cross-selling


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cross-selling

persuading an existing customer to buy another product from the same business.
References in periodicals archive ?
Larger players, who benefit from scale advantages, better claims management, stronger provider networks and superior cross-selling capacity, will likely be more keen to participate'.
The Department of Financial Services, ministry of Finance, has urged heads of banks that commission on cross-selling business should be paid to banks, not employees.
"I am sure that after a while, insurance companies will realize how important it is to seriously develop cross-selling by offering voluntary types of insurance to customers who already have compulsory types of insurance."
As Insular Life is already part owner of Union Bank with a 16.2-percent interest, this solves the cross-ownership requirement for the cross-selling of insurance products using the Union Bank branch network.
It was not until much later, when public pressure mounted after the House Banking Committee grilled Stumpf that the bank suspended its cross-selling sales incentive program.
Cross-selling has garnered immense media attention since the incident, but for all the wrong reasons.
In light of recent issues related to cross-selling, FINRA is focused on the nature and scope of broker-dealers' cross-selling activities and whether they are adequately supervising these activities by their registered employees to protect investors."
Securities and Exchange Commission raised questions about Wells Fargo & Co's (WFC.N) aggressive cross-selling in late 2014, according to regulatory paperwork, almost two years before officials settled with the bank for opening phony accounts.
But transactional selling is no longer sufficient when the broker's focus is having to shift from just getting the BOR on the medical to cross-selling other products and services to help replace lost medical commissions.
In the "good old days," cross-selling meant asking your clients for additional business.
Cross-selling, as it is commonly called, is simply selling new or complementary services to a firm's existing clients.
To improve your sales culture, you need to change your staff's attitude about cross-selling. And that starts with education and training.