A story about CRM with up sale & cross Sale
The story begins like this---- The researchers from Wal-mart started analyzing the daily reports of a certain locality. They found some interesting data on the weekend sales report. And the astonishment of the result pushes them to do a survey on that locality. They found that in the weekend the sales of the beer and nappy are high and quite proportional to each other; and the same customer who is buying beer, is buying nappy too. So the researcher started thinking how could it be possible as the two is very much different from each other, one is for the adult and another is for the infant. So they started doing a survey of the locality and what they found was very interesting. They found that on the weekend most of the buyers are gents. Now that was another surprise for them. So they started digging in deep and they found that those gentlemen are married with children and their wives go for kitty party on the weekend. So it’s the husband’s responsibility to look after the child. So the husband buys beers for himself and as they are not assured of the nappy for the child (if there is any nappy at home or where it kept as men are very forgetful of these stuffs in nature) they buy a packet of nappy also.
With all these information, the researchers were thinking about selling more of those stuffs to get more revenue. Now how to do that!! That was the main questions. So the researchers started learning the human psychology (rather we can say the men psychology). They had come with the great idea. They learn that men are very lazy about shopping and they want to finish the shopping as soon as possible; if they found the needed things at the 1st row itself then they won’t bother to go to search the whole store. So the researchers told the store to keep the beer rack close to the entrance and the large pack of nappies next to the beer rack. This idea works; the husbands just take the beer can from the entrance and as they get the nappy besides that so they don’t go inside to search for a smaller one. So the sale of the nappy is also increased and with that they started selling the bigger pack more. So this helps to increase the revenue of that store too.
So what we get from this story----try to dig deep in the human psychology and you could find a good solution to increase your revenue. I am putting a full-stop today. I’ll write more next time.
|