Cross Sales
What's your single biggest impediment to cross-sales?
“Reluctance on the part of branch personnel to sell” was what 100% of respondents answered in a market survey conducted at the 2006 ABA Bank Marketing Conference.
The good news is, successful lead generation doesn't require aggressive sales tactics. And you don't have to transform your service personnel into salespeople.
A marketing approach based on customer education will generate leads and build stronger relationships - in a way that customers appreciate and employees find easy.
Cross Sell Advantage doesn't try to change the essential nature of service personnel. Instead, it:
- Fits into the everyday process of branch employee operations
- Supports current behavior rather requiring wholesale change
- Makes it easy for employees to generate leads, because they simply respond to customer requests for help
Cross Sell Advantage turns waiting time during account opening or servicing into a marketing opportunity.
It's as easy as one-two-three — and it works equally well in both large and small banks.
Mini Case Study
“I came on board as Sales Manger in August of 05 and that's when we really started to promote Cross Sell Advantage. Here are some of the numbers:
- Q3 2005 to Q4 2005 sales up 27%
- Q4 2005 to Q1 2006 sales up 21%
- Q1 2006 to Q2 2006 sales up 15%
- Q2 2006 to Q3 2006 sales dropped off a little, but that's to be expected because those are our slowest months
- Mid Q4 2006, we have already surpassed our Q3 number and compared to Q4 2005, sales are up 41%
In looking at our Financial Consulting activity, the numbers are pretty interesting. The quality of the referrals is much better. Using Cross Sell Advantage is an easy way for bankers to show the customer value, which leads them to be more receptive when they meet with the Financial Consultant (FC). Also, by knowing what Quick Guides the customer selected, the FC is better prepared for the meeting.”
Program Manager
Bank size: $15B in assets, 125 branches
Bank location: Midwest
Leads generated for: Investment and Wealth Management products
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