Create More Mindful Cross-Selling


At our core, Truebridge is a provider of financial education content and a platform by which to distribute content in ways that create cross-selling opportunities. Our company’s mission is to enable financial institutions in engaging their customers in more meaningful conversations, approaching the customer with a needs-based experience in order to facilitate recommendations.

In light of the scandal involving Wells Fargo, the term “cross-selling” has become even more tainted than it was before. However, the necessity of financial institutions to be able to cross-sell – and cross-sell well – is more important than it ever was. Banks depend on this practice in order to effectively serve their customers. Customers need cross-selling to understand what their options are in a given financial situation. But cross-selling must be correctly and more mindfully.

To illustrate just how necessary mindful cross-selling is, a recent survey released from Pega revealed a huge discrepancy between how well banks feel they know their customers and how well customers feel banks know them.

  • 68% of banks claim to know and understand their customers and individual needs.
  • 41% of customers claim their bank knows them and understands their individual needs.
  • 14% of customers felt banks excelled at delivering personalized customer service.
  • 34% of banks felt their main problem area was delivering generic customer service.

With survey results like these and the Office of Comptroller of Currency’s decision to more closely examine industry cross-selling practices, now is the time to update your institution’s cross-selling practices. The core of cross-selling is about trying to find product and service solutions that make your customer’s financial life easier or solve a financial problem while also creating deeper relationships with the bank. In the end, cross-selling should be a win-win scenario, not just pushing product.

This is where we have an opportunity to flip the cross-sell paradigm and focus on the customer. By engaging customers through various channels that lead back to relevant content, your bank will have the ability to more effectively stay in tune with customer needs. In turn, understanding needs creates more mindful cross-selling.

Tell us what you think or talk with us about how we can create more mindful cross-selling for your bank!