As banks struggle to increase revenue per customer, effective cross-sell strategies are critical. In the past, cross-sell strategies have focused on offering multiple types of products within each segment, so it is no surprise that there is a lack of customer centricity and cross-selling across segments.
As banks rethink these strategies and align themselves behind better and more robust cross-sell strategies, it has become clear that knowing each customer at a deeper level is the key to success in the pursuit of higher cross-sell ratios.
- Will you realize the revenue promise of your product cross-selling initiatives?
- Do you develop the most appropriate product promotion and pricing strategies?
- Can you lower the cost and increase the confidence in your reporting and analytics initiatives?
At Collabera, we meet and exceed these challenges through our Customer Insights solutions - aimed at enabling you to realize more value per customer by maintaining a consistent view of their information across channels, products and lines of business.
Our Services Include
- Customer Insights - Strategy and Roadmap Development - Using the overall business drivers to define key strategy components and identifying the tactics that support these action plans. Roadmap development includes prioritizing and phasing of these tactics and aligning their timing with the readiness of the organization.
- Customer and Profitability Analytics - Gaining insights into customer behavior and profitability through analysis of key metrics is critical for all types of banking institutions. Collabera provides services that span the assessment of these needs to define the right solution using data marts, dashboards and reporting tools.
- Data Strategy and Roadmap Development - Designing and deploying a data strategy that includes data governance, data movement, data integration and data storage. Collabera can provide all aspects of planning, design, and deployment of strategies across these areas.
Key Business Benefits
- Enhance the profitability of each customer by determining total wallet share and augmenting cross-selling opportunities across segments
- Improve productivity and cost savings through consistent availability of customer information across channels
- Capitalize on the cross-selling window during on-boarding
- Appreciable reduction in attrition
- Significant increase in product sales and penetration
- Increase in customer lifetime value
- Increased customer satisfaction