Research shows that about 60% of brand new customers leave their initial interaction with a bank with exactly what they came in and asked for…a single product or service. This despite the fact that the average customer needs at least 4–8 products just to manage their daily financial lives. The result — customers are underserved and millions in potential revenues are missed at new account openings with brand new customers.
Therefore, Cohen Brown developed Increasing Cross-Sales at New Account Openings (NAOs) with Brand New Customers (“The NAO Process”), a revolutionary solution that enables financial institutions to take advantage of their golden opportunity to serve brand new customers.
The NAO Cross-Selling Process is proven to increase products and services sold/needs met at NAOs by an average of 2.0 — regardless of a bank’s existing performance or on-boarding approach. It’s a consultative and needs-based solution that also increases customer satisfaction…and there is absolutely no product pushing.
Learn more about the NAO Cross-Selling Process and how to increase your revenue NOW — attend the complimentary American Banker Webinar on October 1st.
Julie Freeman is Regional Director for Cohen Brown Management Group.