Efficiency of financial institutions depends on the quantity and quality of services sold.For example, in the banking sector - it sold loans, installment, loans and other services to the insurance companies - is an insurance policy for cars, real estate, life insurance.Implementation of the client with the necessary goods and services, even what some called the additional cross-selling.In other words - a Cross-sales of services or products.
main objective of such methods - increasing the revenue part of the organization.Often, products which are sold through such methods, high-yielding, but less popular, and therefore offer them in the "burden" to other popular products.
Types of cross-selling
Conventionally, they can be divided into sales in services and in goods.In services, this kind of selling is often represented in the banking and insurance activities.
difference between this method of sales in different areas of business
Cross-selling of banking products - a combination of services, different in its purpose.For example, if a person has a loan, you can sell more passing and payment card.Thus, the burden on the client will be much higher yield of the institution - more.Another example: the company asked the bank for a credit line.Bank decided to lending, but with the opening of the current account and the transfer of salary project.In this case, we see voluntary-forced version of such an implementation of the current account and salary contract.
Cross-selling insurance also gained popularity.Almost every insurance company is committed to a comprehensive customer service.That is, if you asked the insurance company to insure the property, you will be sure to offer other types of insurance (life, car, etc.).Sale of other insurance products, together with the main - this is the cross-selling of insurance.
Trade and sales techniques
Cross-selling to trade a little different from such actions in the financial sector.They are presented here rather to complement the primary selling than a separate product.For example, when buying a smartphone or computer offers a fee for additional services or software.Thus, popularizing the products that sold poorly.
What benefits provide such methods?
- Promotion of services sold poorly.
- often cross-selling brings high returns, so the use of this technique significantly increases the company's financial performance.Increased return on equity, liquidity of the organization, which significantly improves the statistics.
- organizations desire to go to the European quality of cooperation, where a significant portion of the profits (30 percent) enterprises receive from the additional services, which are sold with the help of cross-selling.
- Using this technique enables the organization to make "universal soldiers" of their managers, as put into practice this method is only possible with excellent knowledge of the staff of all the company's products.
