If you’ve ever walked into a café for a coffee and ended up leaving with a pastry, too, you’ve experienced cross-selling. If you’ve upgraded your phone to a newer model with just a bit more storage, you’ve encountered upselling in action.
These strategies are all about enhancing the customer experience while increasing sales—and they can work wonders in the education industry too.
But let’s start with the basics:
Cross-selling is offering an additional product or service that complements what your customer is already buying.
In the context of your education business, it’s like saying, “Hey, you’re signing up for a language program—how about adding travel insurance to keep you safe during your trip?”
It’s a win-win: your student gets added protection, and your organization earns more revenue.
Upselling, on the other hand, is about encouraging your customers to purchase a higher-end version of what they’re already interested in.
For example, if a student is looking at a basic accommodation package, you could suggest upgrading to a premium option with better amenities or a more convenient location.
The student enjoys a better experience, and you benefit from the higher sales.
Incorporating cross-selling and upselling into your business strategy isn’t just about increasing your sales—it’s about adding value for your students.
When done right, these strategies help your customers feel like they’re getting more from their investment while you increase your revenue per transaction. It’s a simple way to grow your business without needing to attract more customers.
Here’s how you can start using these techniques in your everyday operations:
Cross-Sell Travel Insurance: When a student enrolls in a study program, don’t just stop at the course itself.
📝Suggest any kind of insurance policy as a necessary add-on to protect them during their journey.
Position it as a crucial part of their planning so it feels less like an extra and more like a must-have.
Bundle Products: Consider creating packages that naturally include insurance.
📝For instance, if a student is booking a language course, you could offer a bundle that includes the course, accommodation, the school's insurance plus GuardMe's cancellation product.
This would simplify the decision-making process for your students and make the package more attractive overall.
👉This can easily be done through Edvisor!
Upsell to Premium Services: If a student is interested in a basic insurance package, highlight the benefits of a premium option.
📝For example, you could say, “This insurance provides higher coverage for just a small price increase, including additional benefits like trip cancellation and lost luggage protection.”
By clearly demonstrating the added value, you make it easier for them to choose the upgrade.
Cross-selling and upselling aren’t just about making more money—they’re about enhancing the student experience.
It’s about being proactive and thoughtful in your approach, ensuring that every interaction with a student adds value for both them and your business.
By offering the right products at the right time, you help your students get the most out of their investment while also boosting your revenue.
So, consider how to incorporate these strategies next time you’re working on a quote. It might be as simple as suggesting travel insurance or offering an upgraded service, but the impact on your revenue can be significant.
Edvisor provides a suite of insurance tools designed to help you seamlessly integrate insurance sales into your process.
🤓 If you’re not yet familiar with these tools, we’ve covered you with our comprehensive Insurance Sales Guide.
And if you’d like a personalized walkthrough, don’t hesitate to contact your account manager for an in-depth demo. We’re here to help you maximize your revenue!