Banking / Finance

Moving beyond traditional bank Cross-Selling

13th Nov `15, 11:40 AM in Banking / Finance

Cross selling should be a part of a bank’s culture. A successful cross-sell program has to be part…

BDMS
Guest Contributor
 

Cross selling should be a part of a bank’s culture.

A successful cross-sell program has to be part of the corporate culture with aggressive share of wallet and relationship growth goals that are communicated, tracked and accountable across the organization.  Cross-sell absolutely has to be a holistic approach across all channels – including online – as well as part of the front line CRM platform to truly reach peak effectiveness. It is always advisable to combine response models (who is most likely to respond) with targeted creative messaging and offers developed for specific customer segments (what they are most likely to respond to).

There also needs to be more refined strategies and targeted execution of cross-selling programs. Banks and credit unions must develop and execute holistic strategies to ensure communications are consistent across multiple channels using targeted, but still direct, methodologies such as variable-data printing, IP-driven online advertising that pairs with print, and coordinated email outreach.

 

Read More
MORE FROM BIG DATA MADE SIMPLE