What is cross selling in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: cross selling

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Sale of products and services foreign to a company using the company's own organization. &EXAMPLE& In insurance, this would include the sale of bank products by an insurance company or the sale of life insurance, health insurance, building loan agreements and so on by a non-life insurance company.

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• Key Concepts: 
  Cross selling is a sales technique used to encourage customers to purchase additional products or services related to the one they are already buying. In the context of ICM Incentive and Commission Management, cross selling is used to incentivize sales teams to promote additional products or services that are related to the one they are already selling. 
  
  How to use it: 
  In ICM, cross selling can be used to create incentives for sales teams to promote additional products or services that are related to the one they are already selling. This can be done by setting up a commission structure that rewards sales teams for promoting additional products or services. For example, a commission structure could be set up that rewards sales teams for each additional product or service they sell in addition to the one they are already selling. 
  
  Tips & Tricks: 
  When setting up a commission structure for cross selling, it is important to ensure that the incentives are attractive enough for sales teams to be motivated to promote additional products or services. Additionally, it is important to ensure that the commission structure is fair and equitable for all sales teams. 
  
  Related Information: 
  Cross selling is an important part of any successful sales strategy and can be used in conjunction with other techniques such as upselling and bundling. Additionally, cross selling can be used in conjunction with other incentive programs such as loyalty programs and referral programs.