Cross-Selling Through Multiple Channels:Soft Selling to the Jittery Customer

Table of Contents

INTRODUCTION

LIVING THE BRAND

I. TECHNOLOGY CHANNELS

• THE HUMBLE ATM
  • MARKETING CHALLENGES FOR ATMS
  • WHAT ARE BANKS OFFERING THOSE ATTENTIVE CONSUMERS?
• THE CALL CENTER
  • OFFER THE UPSELL AND OFFER DDA-CENTRIC PRODUCTS
• LIVE CHAT

II. GOING WHERE THE CUSTOMERS ARE

• SOCIAL NETWORKS
  • USING FACEBOOK TO SELL/CROSS-SELL
  • WIDGET WEAPONS
  • TWITTER
• MOBILE BANKING:
• THE INTERNET
• THE BRANCH
• DIRECT MAIL

III. THE BANKS

• WELLS FARGO
• JPMORGAN CHASE
• BANK OF AMERICA
• CAPITAL ONE

IV. KEY TRANSACTIONS

• OPENING THE NEW ACCOUNT
  • MANAGING THE NEW ACCOUNT
• LAUNCHING CROSS-SALES FROM A SINGLE PRODUCT: THE MORTGAGE
• OR THAT SINGLE PRODUCT COULD BE INSURANCE
• CONCLUSION

List of Exhibits

• Figure 1: Channels Speaking to the Retail Bank's Customer
• Figure 2: Organic Progression of Product Acquisition
• Figure 3: Banks and credit unions are slowly beginning to stake out a presence in new media
• Figure 4: Facebook is heavily used by networking BofA current and former employees
• Figure 5: Bank of America hasn't culled flaming posts and hasn't fully leveraged the communications/marketing power of Facebook
• Figure 6: Wells Fargo's Facebook Page has hundreds fans and no bank added content
• Figure 7: Citibank came onto Facebook strongly in February 2009 and then fell silent
• Figure 8: Mobile Banking Forecast: 2007-2011
• Figure 9: Banks' Direct Mail Volume related to new account acquisitions and customer communications are up in 2008
• Figure 10: Wells Fargo's Debt Pay Down Solution wraps the customer's total outstanding debit into a single Wells product