Grow Member Relations & Your Bottom Line Utilizing Account Cross-Sell
In a world where everything is just one click away, Credit Unions are seeking to capitalize on competitive advantages to grow member relations while generating more revenue to boost the bottom line. The popular term “cash is king” is increasingly being substituted with “it’s all in the data.”
The Aurora Advantage CU core solution has incorporated Account Cross-Sell to help Credit Unions analyze data to easily identify new opportunities of interest to their members. You may be wondering, “What is Account Cross-Sell?” To cross-sell is to sell related or complementary products to a customer or member. Account Cross-Sell allows the Credit Union to create marketing campaigns based on defined benchmarks. For instance, with the holidays quickly approaching, it’s an ideal time to create a marketing campaign for Holiday Loans. Credit Union employees can eliminate wasted time by defining pre-qualifying criteria to help auto-decision or preapprove members:
- Credit Score Rating Above X
- Share Draft or Savings Account Balance Above X
- No Delinquent Loan Payments in the Past X months
When a member meets the defined criteria, they are preapproved for the loan. This allows your teller line to be prompted, complete with a custom marketing script, to offer a low-risk Holiday Loan while completing a transaction. CU’s can also target this predefined group with email marketing or call campaigns.
Account Cross-Sell takes member services to a new level, maximizing performance using accessible, accurate and timely decision-support and business intelligence information to help convert member interactions into sales opportunities.
