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UP SELLING AND CROSS SELLING IN BANKS


Use Analytics to sell the right product to the right customer at the right time.

Acquiring new customers is probably the topmost priority for most banks. At the same time, identifying new revenue opportunities from existing customers is also critical. Using up selling and cross selling analytics from Aureus can help your bank build a robust customer journey and stronger product positioning.

WHY IS UPSELLING AND CROSS SELLING IN BANKS A CHALLENGE?

A bank sells multiple services like savings account, cards, loans, etc. However each of these product lines are usually managed as separate lines of business and by different teams. These teams seldom have a single view of the same customer, and end up positioning the wrong product to the wrong customer at the wrong time. This interferes with the customers overall experience with the brand. Hence, up selling and cross selling in banks becomes a challenge.

BETTER UPSELLING AND CROSS SELLING IN BANKS

Banks have multiple relationships with a customer, and collect a lot of data across multiple touch points and events. However, all these data points are scattered across the enterprise in different systems and different structures. Data analytics can look at all these data points together and build a strong decision framework. These decision frameworks help banks cross sell better.

SMART CROSS SELLING IN BANKS WITH CRUX

CRUX can integrate with all the disparate systems across your bank, and help build a consolidated picture of every single customer's transactions and interactions. At the same time, it can also identify significant correlation between customer action and reaction. CRUX also makes it possible to see which customers form part of a common household, and this enables banks to correctly position the right product to the right set of customers at the right time.

Resources


Aureus Cross And Upsell Strategies

What is Unsupervised Learning?

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Banking Strategies-Aureus

What can Big Data do for ME?

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