CRM Banking Features - Global Vision Technology Blog

1. High margin focus

Always try to sell products that have high margins for your bank. Usually, customers prefer CRM Banking products that are lighter on their pockets.

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You will have higher degree of conversion when you pitch such products to them. Some good examples include insurance and guaranties.

2. Focus on customer needs

It is very important to solely focus on customer needs while approaching cross selling strategy. Latest cloud CRM Solutions presents latest customer need information through a holistic 360° view.

This view gives you real time alerts about the current customer needs and requirements. The information is captured with a combination of social CRM, customer purchase history and CRM Banking.

3. Pitch at the right time

It is not necessary to pitch right at the moment of purchase. You can schedule regular follow-up mails and reminders as well. With the information provided by the 360° customer view, spend some time analyzing and deriving the statistics. Accordingly you can plan cross selling offers.

Always remember to follow the age old adage of ‘strike while the iron is hot’. This means that there should not be too much time lag between a customer’s purchase and your offer pitch.

4. Use correct segmentation

A high risk-averse customer will not be interested in products which promise high returns at a very high premium. Vice-verse, a risk taking investor will scoff at a banking product which offers low returns.

A good CRM Solutions will help you devise the right marketing segmentation strategy. With the right package, you can position yourself in such a way, the customer actually feels honored to purchase the products which you offer.

5. Train front-line

Cross selling has been one of the most talked about points lately, but companies have not been able cash in on the technique. Age old myths and sales apprehensions hold even the best sales people at the brim.

The best way to tackle them is train banking sales representatives and front line executives with the right approach to cross-selling. Encourage them and remove any fears they might have about this proven sales technique.

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