BANKING AFFAIRS

Detailed explanation-1: -Benefits of Cross-Selling. The main benefits of cross-selling include increased sales revenue, improve customer satisfaction and in B2B businesses, increased Customer Lifetime Value (CLV) through deeper integration in a customer’s business. When it works, cross-selling is great for both you and for your customers.

Detailed explanation-2: -Cross selling eliminates additional acquisition costs for new sales. Creating brand loyalty. In banking specifically, offering multiple products to their consumers helps position their financial services as a one-stop shop for everything they need. Increased revenues.

Detailed explanation-3: -Cross-selling is the practice of marketing and selling additional products, usually done by a salesperson who has a customer relationship; often practiced in the financial services industry.

Detailed explanation-4: -Cross-selling is the practice of marketing additional products to existing customers, often practiced in the financial services industry. Financial advisors can often earn additional revenue by cross-selling additional products and services to their existing client base.

Detailed explanation-5: -Cross-selling and upselling holds several benefits for B2B companies including: Enhances long term value of association. Broadens choice of product and services. Offers convenience and flexibility.