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What does the price of gas, the presidential race, and cross-selling have in common? Constant change. The price of gas today is consistently changing – upward, unfortunately. Like every election, our current presidential candidates preach change ‘til they're blue in the face. And cross-selling efforts create change at your credit union, providing members with new products and services opportunities to enhance the management of their finances.
With so many changes taking place in our country right now, the one stable financial constant we currently have is the credit union. And based on various industry reports, credit unions seem to be holding their own during our nation's so-called “economic slowdown.”
With this positive news spurring on credit unions to continue moving forward helping current members maintain their finances and assisting new members with their financial uncertainties, now is the time to make another push to solidify this industry as members' primary financial institutions (PFIs). To achieve this goal, credit unions need to continue offering their memberships the products and services they can leverage to easily manage their accounts 24/7. The key here is to educate and cross-sell services whenever possible, creating positive change at your credit union and making it a bonafide PFI.
But sometimes these very cross-selling efforts that can enhance your credit union's stature as a PFI for your members pose a challenge. To enhance the ease of these efforts, check out the following cross-selling tips to benefit you and your membership…
Ever want to have just a quick profile of which products your member is using? A good cross-selling tool can provide a quick, visual snapshot that can help:
Tools to develop sales campaigns give you the ability to identify and flag cross-sell discussions you want to have with a member. They can help:
If you're looking to proactively reach out to members to let them know how you can help, an effective outbound calling tool can help organize outbound calling or selling efforts. It can help:
Giving your team the ability to monitor and track performance against goals provides everyone within your credit union with the ability to see how they are doing at all times. It can help:
Together, these tools can form a powerful cross-sell platform, which can help boost your cross-sell capabilities by as much as 35 percent.
In this era of instability, rising gas prices, and a changing of the guard at our presidential helm, boosting your cross-selling capabilities may be just the ticket that can secure your credit union's stability, retaining and gaining members to make it a bonafide PFI.
For more information on enhancing your cross-selling efforts to ensure your credit union becomes a PFI for your members, feel free to give us a call at 317.612.3350 or visit us online at www.fivision.com.
June 9, 2008
7/26/2012 03:58 PM
one of the primary prerequisites for a win/win/win outcome is missing and substituted for in this article! just because a member does not have a product or service does NOT mean they should be encouraged to buy. rather, the need and ability to buy should first be established. if these steps are not followed, one sells and loses the benefit of the relationship. asking questions to firmly establish NEED must be focused upon so that the call is PERCEIVED as a call by a valued relationship designed to assist the member!
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