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Unit 5: Closed Loop Marketing

5.3.1 The Six Essential Strategies to Increase Cross-selling and Notes
Up-selling Revenues

The six essential strategies presented here are intended to facilitate the larger paradigm shifts
necessary to bring your entire organization into alignment with dynamic cross-selling and
up-selling. Embracing these strategies will help to stop customer frustration, improve business
efficiencies, and increase your revenues.

Strategy 1: Deliver your Best Service to your Highest-value Customers

Delivering excellent service to the customer that represents your highest potential revenue goes
well beyond putting your agents on their best behaviour. It involves planning for and applying
the steps outlined here:
1. Identify your best customers.
2. Handle their calls differently.

3. Be ready to act when opportunity knocks.

Example: A customer enters their account or some other identifying number when they
first interact with the call queue. The contact centre system immediately recognizes that this
customer is of high-value. (This can be based on the customer’s income, account history, the type
of product or service they currently have—whatever meets the unique criteria of your business.)
This system takes the customer out of the “first come, first-served” queue they started in and
places them into a specific high-value queue. Concurrently, the system searches for an available
agent that also has the right skill set to take advantage of this particular selling opportunity.
With a minimum of waiting, the customer is connected with the live agent best prepared to turn
a routine service call into revenue.

The keys to making this kind of dynamic selling possible are two powerful capabilities: data-
driven routing and intelligent business routing. Data-driven routing uses customer information
to intelligently direct calls within the system, and then attaches that data for delivery to the
agent’s desktop. This will prepare the agent with the customer’s identity and the reason they are
calling. Intelligent business routing then matches the caller’s specific needs and profile with the
right agent, ensuring an optimal customer experience and maximizing the value realized from
every interaction.

Be ready
Successful financial services contact centres make it a priority to centralize access to data and
apply the analytics required to profile customers based on behaviour, profit potential, product
or service type, or any other relevant criteria. The result is a series of statistical models that can
then be consulted in real-time to intelligently route high-value calls. Having the backend analysis
of value complete before the customer calls gives you the ability to serve the specific needs of
high-value customers the moment they enter your call queue.

Strategy 2: Link Inbound Channels with Business Analytics and Customer Databases

Once your customer analysis is complete and your statistical models are in place, you must
apply the technologies required to link these models and your customer database to your
inbound channels. While obviously including phone calls, with the growing Internet banking
trend your system must also be prepared to link inbound communications via e-mail and web

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