Cross-Sell & Up-Sell Credit Cards & Associated Products
To boost sales revenue and improve customer experience through an efficient sales process.
One of the largest banks uses customer interactions to cross-sell and upsell its banking & insurance products, such as credit cards, savings accounts, balance transfers, credit limit increase etc. However, it used very little of its available customer information to align the right products to the customer’s situation.
Call-Centre agents had no way of taking into account customers’ personal circumstances to prioritize one product over the other. The client wanted to improve its Cross sell and Up sell of credit card and associated products to boost sales revenue and enhance their customer experience.
We created propensity models that predicted the likelihood of each customer taking up a particular product offer. When the customer contacts the call-centre, the system retrieves the customer data and presents some key information to the agent, that helps in accurately addressing customers’ requirements and improve their experience.
Based on the customer propensity score and specific characteristics of the customer, and responses to questions, the solution calculates the Propensity Score and re-orders the products according to the customer’s needs, which is offered to the client.
This helped in improving the Customer Experience through a more relevant sales process leading to an exponential increase in sales revenue. Effective usage of customer information to determine the best suited products for each individual customer resulted in their over-all organizational growth.