A midsize insurance firm, which had been struggling to achieve positive organic growth for several years, installed a new customer contact database. To verify that everything had been successfully migrated and to compare the results, they produced a list of all active clients. The leadership team was surprised to find that they had over 10,000 clients—and many of them had purchased just one policy.
Cross-selling is one of the most talked about and often neglected aspects of financial services selling. Although there are no official statistics that measure cross-selling effectiveness, most industry leaders and firms I speak with, identify cross-selling as an area in which they could be performing a lot better. ...
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