Maximising Cross-Selling Opportunities
Selling new products to existing customers has
long been on most banks' agendas, however few have the requisite information
that delivers insight into their customers’ true financial position.
When establishing cross-selling strategies the ultimate goal for
banks is improving the bottom line. Progressive banks understand
the power of cross selling and recognise it as an essential element
for promoting both customer retention and revenue growth.
Cross-selling is a proactive, ongoing sales process designed to
provide the banks existing customers with a full range of the products
and services on offer. The key to effective cross-selling is understanding
the customer's needs.
Luminous provides a number of cross selling opportunities for banks
to leverage the customer data to which they have access to. Our
bank reporting solution, InLighten, can deliver informative reports
to banks highlighting key information regarding the customer, for
example, the insurance spend or number of business entities owned
by the customer.
This powerful information enables a banking consultant to contact
the customer equipped with the relevant knowledge to propose appropriate
products and services that would benefit the customer.
InLighten enables the banks to employ a more customer centric approach
analysing the profile of the banks customers and assisting the banks
to develop potential cross selling opportunities across a wide range
of industries.
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