Cross-Selling and Customer Service - Perfect Match!

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

Cross-Selling Know How! What to Say!

Spot Opportunities; Start Conversations

Cross-selling opportunities are abundant at the branch. Be on the lookout and the “listen” for cues the customer shares and respond with prompting questions and/or benefit statements. Always express congratulations to good news, compassion or regret to tough news.  Remember to assure your customer that you are willing and able to help.  Cross-selling is about helping the customer get what they need.  Branch personnel devoted to customer service will find cross-selling expertise is just another way to take great care of the customer. Stay alert to the opportunities that come your way every day.

 

Create your own scripts so you are prepared to start conversations and respond to the needs of the customer. It is easy to help customers get their needs met when you know what to say!

·         “I just started a new job.” 

Congratulations on your new job!  If you are going to have the opportunity to roll-over a 401K from your former employer many of my customers have found our investment area very helpful.  May I introduce you to one of our specialist?

·         “My husband got a promotion and we are going to celebrate this evening.”

What good news, that is wonderful!  Promotions usually prompt a pay increase and if that is the case for your husband that is even better news. Something to think about would be to start an automatic debit from your checking account and move any addition dollars into a savings or investment product so that your family benefits long term from a pay increase.  May I show you how that works?

         “We spent last weekend looking at colleges for our son who will graduate this year.”

What excitement that must be for you and your family!  I am hearing that from several of my customers that they have children graduating this spring.  Now is an ideal time to set him up with a student account. That will give him time to practice managing a checking account and, since we don’t charge for using ATMs anywhere, that account will work for him wherever he ends up going to college.  Of course, when he is off to college you can easily add to his account if you needed to; can I introduce you to Julie so she can get that set up?

        “Our A/C went out yesterday and I am worried sick over what the expense to fix it will be.”

We specialize in putting an end to worries.  If you have the time, let me introduce you to George Williams, he could talk with you about a line of credit. If you need money, a credit line is just the ticket for circumstances just like this.  I see he is free and I would like to at least introduce you, would that work?

Get busy spotting opportunities and starting conversations, you'll find you enjoy your job more and your customers are more receptive!

Still learning,

Honey

Teller Training - Cross-Selling Skills Series

Setting the Stage

You must always set the stage for cross-selling with excellent service and a positive image.  Start your day off with cleaning up your window, stocking it with supplies and marketing material.  Include brochures, business cards and if you have a special offer create a tent card for your window by tastefully mounting a screen shot or newspaper ad for display.  Clear picture frames make excellent props for displaying brochures or advertising.  Focal points generate conversation so you will want to support any effort the company has put forth in statement stuffers, signage and advertising.

There is an old adage that goes like this “people don’t care how much you know until they know how much you care.”  How you convey that you care begins with a smile. 

·         Appear friendly and approachable

·         Offer your name, look them in the eye

·         Use their name

·         Whenever it’s appropriate start and end on a handshake

·         Pay them a sincere compliment

·         Get to know them as a person

·         Engage them with questions that express care and interest

Ø  “How’s your week going?”

Ø  “Tell me about your family.”

Ø  “Tell me about your work.”

Ø  “What’s new with you?”

Ø  “Have any big plans for this time of the year?”

·        Sometimes they have someone with them, ask about the other person, this could be an entrée to more conversation

Ø  “Who is this you have with you today?”

·         Always inquire how satisfied the customer is with your company.

Ø  “Before today when was the last time you visited the branch?  How did we do?”

Stay tuned for how to exceed what is expected of you by the company and what you need to do to exceed what the customer expects from their financial institution.  More to come...

Still learning,

Honey