1. CROSS SELLING
agenda :
1. Cross Selling in Innovation
Cross Selling & Ten Types of Innovation
2. Cross Selling is an important TACTIC
a) Why?
b) Case Study : Ipod
3. Cross Selling implementation on E-Project
2.
3. Background Thinking of TToI
• Innovation mostly fails. It doesn’t need to. U shouldn’t let it.
• Innovation almost never fails due to a lack of creativity. It’s
almost always because of a lack of discipline.
• The most certain way to fail is to focus only on products.
Successful innovators use many types of innovation.
• Successful innovators analyze the patterns of innovation in
their industry. Then they make conscious, considered choices
to innovate in different ways.
• Innovations can be broken down and analyzed. When you do
so, you will learn why most fail and a few succeed.
• Innovations can be built up systematically. Doing so increases
your odds of success exponentially.
4. Defining Innovation
INNOVATION is… The Creation of Viable New Offering
1. Innovation Is not Invention
• Innovation may involve invention, but it requires many other things as well—including a deep
understanding of whether customers need or desire that invention, how you can work with other partners
to deliver it, and how it will pay for itself over time.
2. Innovations Have to Earn Their Keep
• Simply put: innovations have to return value to you or your enterprise if you want to have the privilege of
making another one some day. We like to define viability with two criteria: the innovation must be able to
sustain itself and return its weighted cost of capital.
3. Very Little Is Truly New in Innovation
• Biologist Francesco Redi established the maxim: “Every living thing comes from a living thing.” Too often,
we fail to appreciate that most innovations are based on previous advances. Innovations don’t have to be
new to the world—only to a market or industry.3
4. Think Beyond Products
• Innovations should be about more than products. They can encompass new ways of doing business and
making money, new systems of products and services, and even new interactions and forms of
engagement between your organization and your customers.
5. Rules on Innovation
1. Knowing Where to Innovate Is as Important as Knowing How to Innovate
Striking oil or mining lithium depends far more on knowing where to dig than on the digging itself. Identify the right
innovation opportunities and be very clear about the nature of the innovation you intend to create before you begin a
project.
2. Tackle the Hardest Problems First
Don’t look for low-hanging fruit. Instead, target big, gnarly problems with no easy answer. This isn’t about what’s easy
for you; it’s about solving deep problems for your customers. When innovating, focus on the hardest parts of a concept
you have to get right. The easy stuff can wait until later.
3. Refuse Incomplete Answers
Having embraced big challenges, be patient and work to create comprehensive solutions. Look for ways to resolve
tensions instead of defaulting to trade-offs. This requires you to be comfortable with ambiguity and to wait for the
answers to emerge.
4- It Doesn’t Count until It’s in the Market
You haven’t finished the process of innovating until you bring the offering to market and you’re getting revenue for it.
Or, for social or government contexts, you have helped your stakeholders in a new and better way that can sustain itself
over time.
5. Turn Complexity into Simplicity
It’s easy to take something simple and make it complex: politicians and lawyers seem to do it for a living. Yet very few
innovations are championed for their intricacy. Most are known for bringing elegance and simplicity to even the
thorniest problems.
6. TToI : The 3 CATEGORIES in Innovation
Operational Product Customer
Excellence Leadership Intimacy
9. 11 Tactics on CHANNEL Types
• Context Specific
– Offer timely access to offerings that are appropriate for a specific location, occasion, orsituation.
• Cross-Selling
– Offer appealing additional products, services, or information that will enhance an experience in situations where customers
are likely to want to buy them.
• Diversification
– Add and expand into new or different channels.
• Experience Center
– Create space that encourages your customers to interact with your offerings—but purchase them through a different (and
often lower cost) channel.
• Flagship Store
– Create a retail outlet to showcase quintessential brand and product attributes.
• Go Direct
– Skip traditional retail channels and connect directly with customers.
• Indirect Distribution
– Use others as resellers who take responsibility for delivering an offering to the final user.
• Multi-Level Marketing
– Sell bulk or packaged goods to an affiliated but independent sales force that turns around and sells it for you.
• Non-Traditional Channels
– Employ novel and relevant avenues to reach and service customers.
• On-Demand
– Deliver goods in real-time whenever or wherever they are desired.
• Pop-Up Presence
– Create a noteworthy but temporary environment to showcase and / or sell offerings.
12. Why does it matter?
Amazon reported that
Cross-selling
is responsible for 35% of its sales
… and that was way back in 2006 – just imagine what that is worth to them today!
How can U implement Cross Selling Tactics in YOUR BIZ ?!
