How to Cross-Sell With Credit Cards

Make sure you know all the features and benefits of the products you are cross-selling.

In order to maximize the efficiency of credit card customer service representatives, credit card companies train them to cross-sell other products and services. Cross-selling helps improve the profitability of the company when additional fees and interest are assessed to other products and services. The products offered can vary from company to company. Some products include credit protection, automobile insurance, balance transfers, mortgages and other loans. Credit card companies will often form alliances with other companies so that they can sell more products to their customers.

Instructions

1. Handle the initial inquiry in a courteous, professional manner. Always deal with customers in an enthusiastic manner. If you resolve the customer's initial problem, you will have a better chance of successfully cross-selling other products. Dissatisfied customers are not likely to do business with a credit card company in the future.

2. Listen intently to what the customer is saying and take notes. You can find opportunities for cross-selling products based on what a customer says. For example, a customer may mention that he or she has a daughter getting ready to start college. This information can lead you to offer a balance transfer at a low promotional rate for tuition expenses.

3. Design a cross-selling phrase that enables you to transition over to the sell. Cross-selling should always take place at the end of the call and after you have handled the customer's inquiry. To cross-sell, you must be able to move from service to selling. A helpful phrase to use might be, "While I have you on the phone, did you know that you qualify for our credit protection program?"

4. Use a presumptive selling approach when cross-selling credit cards. This method assumes the customer is going to make a purchase. An example would be, "By the way: your account is eligible for a low promotional balance transfer rate. I am going to bring a representative on the phone to give you more information."

Tips & Warnings

• Review the customer's profile for helpful selling information.

• Make sure you are knowledgeable about different products and services. Customers like purchasing from experienced and knowledgeable professionals.

References

• The Free Library: Surveys Reveal Credit Cards as Gateway to Cross-Selling
• Credit Card Balance: Cross-Selling for Credit Card Issuers