Build trust and drive sales of analyst research with seamless up and cross-selling

The ability to up and cross-sell to subscribers without intervention from account managers is essential for revenue growth. Subscribers expect seamless sales journeys and immediate purchases. Without advanced up-selling features, analyst firms often rely on manual processes, which create friction and reduce the likelihood of making a sale.

Using features built into publishing technology like Content Catalyst, analyst firms can facilitate immediate up and cross-selling. Furthermore, they can use these features and other tools to provide added value to subscribers, deepening the relationship and increasing retention.

In our 20 years of experience working with analyst firms, here are five ways up-selling and cross-selling tools can directly impact subscription renewals and upgrades.

1. Use search to surface relevant content outside of licence

Two types of search tools are available to Content Catalyst customers – conventional search and AI-powered (MyCatalyst).

While conventional search delivers multiple links based on tags and categories, MyCatalyst provides one complete natural language answer plus the resources used to compile its answer.

In both instances, features like ‘also viewed’, ‘related items,’ and ‘popular searches’ can be deployed to assist users with their search. The key to making sales via conventional search and MyCatalyst is configuring them to display links to content that falls within and outside of a subscriber’s licence.

This encourages subscribers to look beyond what they’ve paid for, make ad-hoc purchases, or even upgrade their licences, as required. Include a ‘buy now’ button or link to a landing page to facilitate the sale.

2. Make subscribers aware of new products before they know they need them

Subscribers don’t typically visit a publisher’s website just to see what’s new.

Personalised push notifications inform subscribers of new reports or products when they become available. Users are prompted to select their preferred topics and frequency of updates when they initially sign up.

TGaS Advisors, a strategic advisory company in life sciences, say searches and alerts are a “big deal” for customer relationships. “Customers only seek information when it’s necessary, so alerts are a useful way for them to stay on top of relevant information and dive into content quickly when answers are needed,” explains Associate Director Tarra Maeshima.

Email updates are a great way of promoting offers and encouraging subscribers to use your service more often. Leading subscribers back to your website keeps your service front of mind, provides more value and therefore drives retention and additional revenue.

3. Tip-off your sales team when a new lead is generated

Account managers cannot follow up on leads if they don’t know when a lead has been created. Publishing technology can solve this challenge with sales lead notifications.

A user landing on a marketing page for a product outside their licence triggers an email alert notifying sales of the new lead. The team then follows up on the lead in the appropriate manner, which could include using Content Catalyst to create a special offer such as a time-limited free trial, discount, or tailored package.

The Account Manager may prefer to reach out personally with an offer or encourage the subscriber to engage with an analyst. While automated sales satisfy an in-the-moment need, the personal touch from a salesperson or analyst can increase retention or lead to higher value opportunities.

4. Leverage the ‘Ask the analyst’ feature to start a conversation with subscribers

Subscribers want to make immediate purchases because they need timely answers to questions or access to information. Sometimes, they may not have everything they need or have additional questions for the author.

The ‘Ask the analyst’ button seamlessly connects subscribers with analysts. The subscriber gets the answer they need quickly, and a potential sales opportunity is created for the analyst firm.
This initial conversation could become a sale, such as billable analyst time or a larger consulting project. Billable analyst time not only increases revenue but also enhances analysts’ authority and, consequently, the company in the eyes of subscribers.

5. Offer flexible licensing for effective up and cross-selling

Underpinning all features discussed is access to flexible licensing technology. The modern analyst firm needs the capability to adapt services to meet the differing needs of accounts and individual subscribers.

A one-size-fits-all approach to licensing no longer fits customer demand and expectations. For instance, some customers may only want to buy single reports, while others want to subscribe to content packages. Some may need to expand their licence to other individuals or departments temporarily.

With Content Catalyst, licences can be granted for content as granular as a single report section, on a time-sensitive basis, or for certain content formats, such as the underlying data behind charts and graphs.

Publishing technology should enable the effective management of subscriptions with features that allow automated sales. If your current platform doesn’t offer these capabilities, you are leaving up-sell and cross-sell opportunities on the table.