Five ideas to boost cross-sales

Cross-sales. While rarely anybody’s favorite thing to talk about (with the exception of maybe sales trainers) cross-sales are an increasingly vital part of the revenue mix for banks and credit unions. Deepening relationships and getting more from current members and customers is important.

Most financial institutions are on the lookout for new and/or revamped ways to help employees approach cross sales. Below please find five quick and easy ideas to apply at your shop.

  • Go for your stickiest products. This means aggressively cross-selling items like home banking, bill pay, personal lines of credit and checking accounts. Once consumers are using these products, it’s significantly more difficult for them to pull themselves away and take their business elsewhere.
  • Do everything you can to stay to connected with your consumers. We live in a hyper-competitive age of consumer choice. The biggest reason members and customers stop doing business with you is because they forget who you are. Combat this by staying connected whenever possible. Examples include regular channels like newsletters and website banners. Also remember to mix in plenty of digital channels such as embedded home banking messages, social media and mobile technology.
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