In our coaching for sales materials we learn that not all customers present the same opportunities for growth. Some may be ideal candidates for expansion, while others might only be able to provide minimal potential. Deciding where to focus your time and resources is crucial, but guesswork and wishful thinking are not effective strategies for driving success. To strategically identify which customers to prioritise, it’s essential to first understand their individual needs and growth potential. One of the most effective tools to help with this is a cross-sell and upsell matrix. This simple yet powerful approach enables you to analyse and clarify opportunities for expanding your customer relationships.
What Is a cross-sell and upsell matrix?
A cross-sell and upsell matrix is a straightforward tool used to evaluate where potential growth lies within your customer base. While more complex variations exist in our coaching for sales courses, this exercise can be kept simple to start, providing an invaluable structure for identifying sales opportunities. On a spreadsheet, list your customers by name on the vertical axis (the left-hand side). Across the horizontal axis at the top, list all the products.
Upsell: What products or services has the customer already purchased and are there opportunities for them to upgrade or expand their purchases?
Cross-sell: Are there other products or services you offer that could benefit the customer and help them solve additional challenges or improve their operations?
Competitors: Are your customers currently using offerings from competitors that you can provide as an alternative?
By completing this matrix for each customer, you gain visibility into the most promising areas for upselling and cross-selling, allowing you to make data-driven decisions on where to focus your efforts.
Why it works: The power of data-driven decisions
Successful sales teams recognise that not all customers are created equal. By mapping out their existing purchases and identifying potential gaps, the matrix highlights the best opportunities for growth. This strategic approach from our coaching for sales material eliminates guesswork and enables you to use data to guide your customer engagement. Furthermore, it ensures you’re not overlooking any potential sales opportunities. The cross-sell and upsell matrix helps you understand the full scope of what you can offer, providing a roadmap to deepen customer relationships while increasing revenue.
Updating and maintaining the matrix
The key to making the most of your cross-sell and upsell matrix is to keep it updated regularly. After every customer conversation, update the matrix based on new information about their needs and challenges. This ongoing process ensures you remain agile and responsive, able to spot new opportunities as soon as they arise. In our coaching for sales courses, it’s also important to periodically review the matrix as a team. Discuss which customers should be prioritised, identify areas of concern and adjust your sales strategies accordingly. With regular updates, your matrix becomes a living document that adapts to your customers’ evolving needs and preferences.
Overcoming common challenges
For some, the idea of creating and maintaining a cross-sell and upsell matrix might seem overwhelming, particularly when dealing with a large customer base. However, taking the time to structure your data is a critical step toward improved customer engagement and revenue generation. One common mistake is to assume that every customer is a prime candidate for upselling or cross-selling. Not all customers will be ready for additional products or services at the same time, so it’s vital to identify the right opportunities. For example, customers who have just made a large purchase may not be receptive to upselling immediately, whereas others may be looking for complementary products to enhance their experience. By tracking this information over time, you gain a clearer picture of when and how to approach each customer for additional sales, ensuring you are always speaking to their current needs.
If you haven’t yet created a cross-sell and upsell matrix, now is the perfect time to start. Not only will it give you greater insight into each customer’s needs, but it will also help you identify new revenue opportunities you might have missed otherwise. Whether you’re a small business just starting to scale or an established organisation looking for ways to refine your sales strategy, a cross-sell and upsell matrix is a tool that can drive tangible results. It allows you to make informed decisions and better allocate your resources to maximise customer value and growth. By updating it regularly and keeping it as a central part of your sales strategy, you can ensure that your team is always ready to capitalise on new opportunities. Start building your matrix today and take the guesswork out of growing your customer relationships – contact us today.
