cross selling synergies

Such tactics are powerful motivators, celebrate the new behavior, and signal a clear priority. Post-merger, we often see duplicative/overlapping sales teams which create inefficiencies at best, and at worst, customer confusion and defection. Are you leveraging them? A merger may be the first time an organization embarks on a formal cross-selling program. The buyer should bring a functional team with experience in capital-intensive sales cycles and supplementary financial abilities. These synergies usually involve multiple functional groups; they’re difficult to estimate up front; and their ultimate financial impact is tough to measure. “Compensation drives behavior” is the mantra of executives everywhere.

Leading companies also ensure that nonmonetary incentives apply equally to sales leadership, so their objectives align with their reps’ objectives. When companies look for synergy potential in deals, they tend to focus on costs. Do you know where your hidden opportunities are?

Some companies require achieving a cross-sale quota to qualify for a recognition like admission to the president’s club, while others may have the CEO present special awards to high-performing cross-sellers.

The dashboards also provide the visibility needed to publicly celebrate the cross-selling wins that are critical to sustaining momentum.

Starting as early as due diligence, sales leaders need to assess the strength of existing relationships and product relevance at an account or segment level, using both art and science. But after the deal closed, management realized that the mobile relationship was the stickier of the two. First, the company should make a senior, respected leader accountable for cross-selling and empower that person to make decisions with the full support of the business units involved. Fewer than 20 percent of the organizations we polled in the M&A space achieved their cross-selling goals. Clients appreciate Kelsey’s ability to synthesize content and create effective communications across a wide range of mediums, from training materials and communication campaigns to comprehensive value proposition manuals.

Please click "Accept" to help us improve its usefulness with additional cookies. Travelers justified part of its $50 billion Citicorp acquisition with the expectations of cross-selling. Consider the example of a consumer products manufacturer that enjoyed cross-selling success across multiple acquisitions. “It must not be optional,” one sales leader said. We strive to provide individuals with disabilities equal access to our website. Furthermore, products that are notionally complementary require executional planning. Subscribed to {PRACTICE_NAME} email alerts. Studies submit that cross-selling products and services traditionally traded to one faction of clients to another set of customers—is a potent means to accomplish revenue synergies.

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