Answer:
An average of 4 additional products/services tied to a checking account is a stretch, but not unreasonable. Convenience is everything. When you offer online banking, direct deposit, a debit card, and mobile banking to most consumers interested in convenience, they see the value and will be highly satisfied. It is an excellent way to teach and coach the frontline to explore the needs of the depositor and offer products that meet those needs. Wells Fargo liked to brag that “eight is great “when explaining their case for their cross-selling rationale and claimed that they averaged 6 products per account household.
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Learn more about Honey Shelton’s webinar Incentives and Targets – After Wells
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