WebCross selling is extremely important and effective in the banking industry. However, banks historically have several operational challenges that can make cross selling difficult. Liferay helps create more streamlined processes that are crucial to a successful cross sell. WebJun 18, 2013 · Here are 9 time-tested, common sense techniques that many bank marketers sometimes forget: 1. Ask questions: Consultative selling has been discussed the focus of the banking industry for decades. In a nutshell, the process begins by clearly analyzing a customer’s situation before presenting services or products.
What is Cross-Selling? Plus 3 Tips and 5 Methods To Use
WebAug 16, 2024 · The financial services industry is rife with examples of cross-selling, especially since bigger financial organisations are now offering investments, credit cards, insurance, stocks and bonds. If a customer has come in for a retirement plan, salespeople will offer different types of smaller investments as well, like life insurance or other ... WebNov 29, 2024 · The pilot, which focused on improving life insurance agents’ cross-selling of life, health, and pension and annuities products, saw an uptick in gross written premiums of approximately 50 percent; when those agents cross-sold more property-and-casualty (P&C) products, they saw a jump of approximately 250 percent in normalized premiums ... standard coach capacity
Examples of Cross Selling in Banking - A Marketing Lesson
WebSep 7, 2024 · As we learned, cross-selling, which is selling new products to existing customers, is important in banking because it can engender loyalty. Loyalty among customers, especially in the financial ... WebBenefits of Cross-Selling for Your Clients and Your Firm. Cross-selling your services may streamline your clients’ operations, help them bring in new customers, and save them money during the year and at tax time. In delivering CAS, you enhance the results of your client’s existing services. For instance, if you do the taxes for the two ... WebDec 23, 2024 · Examples of cross-selling. A financial company cross-sells tax planning and preparation services to clients who already have an existing bank account with them. A restaurant cross-sells side items to accompany a customer's main dish. A salesperson suggests to a customer who is buying a laptop that they should consider also purchasing … standard coach seating plan