Click Tactics Debuts Cross-Sell Tool for Banks
The announcement came at the Bank Administration Institute's Retail Delivery Conference and EXPO in Orlando, FL.
The automated solution aims to improve a retail bank's effectiveness in cross-selling products and services during the crucial first six months of a new customer relationship, creating a higher degree of customer "stickiness" and achieving better retention rates.
According to research from the Bank Administration Institute, more than 80 percent of all cross-selling happens during a new checking account's first six months.
On-Boarding STREAM 6 improves cross-selling efforts through choreographed communication streams that are highly personalized and more timely than traditional approaches, Click Tactics said.
The solution uses customer behavior and predefined timing variables to trigger the delivery of the right product or service offer at the right time through the right channel. These marketing vehicles include: direct mail, e-mail, branch communication or call center communications.
Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters