The financial industry is highly capable of providing a wide range of solutions to customers. This is organic because customers’ financial needs are often diverse.
Increase in Cross
in expanding product
portfolios of Bank Clients
Bank consultants are inclined to assess the needs of new prospect customers rather than existing ones. “We know our customers so why ask questions?” Turns out most customers have only 1 product from the portfolio, and no one ever suggested additional solutions. So no cross selling to existing customers, only to prospects.
Firstly awareness was created about the goldmine the Bank was sitting on. Then we recruited the banks’ existing customers from our shopper base of 55.000. Tracking existing customer journey brought broader needs assessment, more cross-sold solutions and vivid stretch in the number of products used by the average customer.
Prepare for growth.
Defining the most relevant KPI’s, piloting, setting frequency, implementing tracking
Establishing a feedback culture, setting up encouraging environment, preparation and training
Helping find the right type of incentive and levelling it both horizontally and vertically.
Fully revise at least once a year to ensure constant evolution and relevance