Giving Money Away

In a sales training session recently we were talking about cross selling on the teller line. We used the example of a customer possibly being in the wrong account and paying too much in service charges and how that may be a good opportunity to see you can help by moving them into a different account that has lower fees. Someone asked, "Wouldn't we be going backwards financially from the company's perspective?" The question they were asking really is why would we do that? : someone is in an account was obviously that  fromt eh comapnyies perspective, if the customer switches account we used to be getting a lot more from them than we would be in the future. The same argument could be made for moving money from an low interest account to a high interest account

What?!?

First off let me say that I think we need to do more than just move the money – this is a prime opportunity to cross sell to the customer. BUT even if that's all we do is move the money I still believe it's right for the customer even if we do take a step back financially. Consider how you feel as a consumer when:
- you find out after you just spent 500. on a new ------ and learn 2 days later that they are having a clearance sale and the same thing is now ½ the price.
- You order the 2 medium pizza's over the phone and find out when you pick them up that you could have ordered 2 larges for only .50 more
- Your mechanic doesn't tell you that your brakes are going to need replacing because he knows if you don't know about it you'll likely wear them down to a point that you will do excessive damage and he'll make more money when he gets to fix them

We could go on and on – you get the point. If you're like most people you'll respond to these scenarios saying "but if they look out for me I'll be more loyal and when I find out they were just out for themselves I'll take my business elsewhere.

Even if that's all we do is move the money I'd still say it was the right thing to do because it's the RIGHT thing to do. You reap what you sow, get back what you give out, what goes around comes around … people will remember.

Sales:

How do we take this and turn it into a cross selling opportunity? I'm glad you asked.

Objective: slow them down, make appointment, you momentum to talk and explore additional needs
- profile them in advance
- be prepared
- x sell your heart out and turn a 1 product sale that potentially is going backwards into a 2+ product sale
- Coif we want to increase our confidence selling, why not just ask the customer if they have the problem that we think they have and if they want it solved? And wouldn't that give us the same level of confidence we have when the customer initiates the process? Notice I did not say ask the customer if they want the product we are thinking they might need. Unfortunately, as soon as you mention a product the customer knows you are selling and you run the risk of being perceived as pushy. Pushy because you are assuming they have the need you think they do, but you don't know for sure. So why not just ask them!

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