Cross-selling is not about being pushing. It is about building on the existing relationship you have with the customer. When you perform your job in a friendly, knowledgeable, efficient way, customers will be inclined to think of your institution first when a need for additional products or services surfaces.
Are you aware that it costs five times more to acquire a new customer than it does to sell an additional product or service to an existing customer? So it makes perfect sense to maximize and expand the relationship you with have with your existing customer. The road to that success is paved with cross-selling. The branch is one of the best stops on that road!
The customer’s attitude toward their financial institution is highly influenced by two key factors—location and customer service. That points directly to the branch and those that work there!
All branch personnel are encouraged to acquire the skills and “attitude” necessary to detect, and on occasion, create prime opportunities to cross-sell and refer customers to product specialists.
Who all benefits from cross-selling success at the branch? The answer is three-fold:
Customer: Your customer wants all the convenience and satisfaction your company has to offer! Never assume the customer magically knows what you have to offer that will enhance satisfaction and elevate convenience! As a dedicated quality service provider the teller must complete the job of taking good care of the customer by first seeking out what the customer may need and then matching that need with services available.
Company: Your employer expects a fair return on the dollars spent on state-of-the-art technology to offer competitive products and services. No matter the size of your financial institution, investments have been made to create Internet visibility, stay as competitive as possible in product offerings, attract new customers and keep the ones they have. The ultimate intention of cross-selling is to bolster both customer satisfaction and profitability. Plus, the frontline is in a primary position to engage the customer and create a positive experience that reinforces the likelihood the financial institution will retain the customer.
Frontline: Your reputation for excellence in your position rides on many things including product knowledge and customer focus. Success at cross-selling and referrals will be dependent on your skills and attitude about taking exceptional care of the customer.
Cross-selling and referral-making are legitimate expectations of all frontline personnel. It takes the efforts of all financial institution personnel to grow the profitability of the institution, as well as working to maintain and grow the depositor relationship.
Still learning,
Honey
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