Relationship Banking: Cross-Selling the Bank's Products & Services to Meet Your Customer's Every Financial Need

TLDR: In this article, Ritter offers workable solutions which can be put to immediate use inside relationship banking and find the components of a successful program, including: financial products and services: by identifying how product line relates to customer needs, its appeal can skyrocket This comprehensive analysis includes everything from savings accounts to mutual funds Lead Product Selling: By identifying those products which customers automatically expect and linking them to related products, you create natural opportunities for effective and productive cross-selling Lead Product Sales helps bankers meet the needs and raise the awareness of their customersImproving communications: Good communications are essential to

Abstract: Banking's greatest opportunities are often overlooked and underdeveloped In fact, a veritable gold mine is already in your bank - the customer! Have you made the most of your customers' potential? You have a full line of quality financial products and services to offer, but chances are even your best customers do business with the competition This isn't necessarily because of pricing or product or trustworthiness It's often due to a simple lack of effort We all know that it is easier and more cost-effective to retain and cultivate an existing customer than it is to attract new ones Yet, many customers are never exposed to the full range of products and services available to them In most cases, all you have to do is ask! Relationship Banking is the key to realizing the potential of your bank's existing resources: your staff, your customers and your product line By cross-selling products to your customers, you gain an advantage in market share, retention rates, fee income and, ultimately, profitability Author Dwight Ritter offers workable solutions which can be put to immediate use Inside Relationship Banking, you will find the components of a successful program, including: Financial products and services: By identifying how your product line relates to customer needs, its appeal can skyrocket This comprehensive analysis includes everything from savings accounts to mutual funds Lead Product Selling: By identifying those products which customers automatically expect and linking them to related products, you create natural opportunities for effective and productive cross-selling Lead Product Selling helps bankers meet the needs and raise the awareness of their customersImproving communications: Good communications are essential to build, nurture and expand any customer relationship By asking the right questions, opportunities quickly become apparent By learning how to listen, needs can be fulfilled and relationships can be cemented Measu