Personalized Cross-Sell

Every credit union needs to grow new accounts — it’s their lifeblood. But it’s expensive to acquire new customers organically. The best short-term revenue growth potential is often found in your existing customer base.

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Use first-party data to customize offers

Many FIs reach out to customers with broad-based marketing, but a data-driven strategy with a narrow focus is typically more effective. Leverage your first-party data and access hundreds of our rules to create target user segments for personalized offers.

Create a frictionless digital experience

The digital consumer expects simplicity, an intuitive design and speed of completion. Providing your team with the same experience to configure product or refinance offers enables FIs to respond to market changes quickly.

The chances of converting an existing customer to an additional offering are substantially greater than going after cold leads.

Since users often open new fintech accounts without closing accounts at their traditional institutions, finding new ways to increase wallet share can create a stickier relationship.

Faster ROI on existing customers

Banks can generate a 70% return on initiatives targeting existing customers versus 10% when targeting new customers, according to PwC. Read the study here.

First-party data as a differentiator

Most FIs have valuable insight into their customers, including payments behavior, borrowing data, channel preferences and other first-party data. By leveraging this data, FIs can learn to anticipate customers’ needs and offer more personalized value rather than random products.

Reduce expense on unwanted offers

Throwing the kitchen sink at customers, so to speak, can diminish credibility and trust. Taking a needs-based approach to cross-selling increases conversions and reduces the risk of bothering customers with unwanted offers.

Wallet-share: automation for the win

The average number of financial products U.S. consumers carry is 8.5. An FI that has a user's checking and savings accounts and an auto loan can attain half the person’s banking wallet with one more account. The most cost-effective way to increase the share of the wallet is through testing various personalized approaches with automation.