How do you use incentives, discounts, or bundles to encourage cross-selling?

One thing I have found helpful in identifying great cross selling opportunities is-having a non sales conversation with the client. At the end of the day the client has to trusty to make the purchase. Make sure to listen to the client. There are so many reasons why a client will choose one product or service over the other. Sometimes the reason will not be based on logic. If you pay attention to the customer you will identify their goals. For instance you might meet a customer who in in the succession planing phase of their business. They are not looking for growth or additional expansion capital. If you miss this as a sales person you will be thinking loans/credit when you should be thinking of introducing your wealth partners.

Yes cross selling can be both beneficial for the customer and the Financial Institution, must be cautious when referring a product / or service. Please keep in mind that most Financial Institutions have some sort of Sales goals for their employees which could result in some customer being cross selled some product or service that really is not a good fit for the customer. I truly believe a customer comes first and what is good for them. I have seen first hand employees that have been left go simply because they did not meet their sales goals

Some ways to get started is to think about selling value. you will use real life examples and success stories to draw the potential clients attention to benefits they might not have previously considered. What that might sound like is- " this is a great choice you are making and you have the potential to achieve the success you need. A similar client added this service to the purchase and saved them the additional headache of employing another person to complete this task". The one time expense will save them a recouping expense. That value will trigger some sort of decision making whether immediately or in the future.

Bundle packages are very powerful if they affect the bottom line. Clients can be very weary of packages because they see costs when they hear about packages. So a package should definitely affect the bottom line. A great package is the BOGO package - Buy one get one free. There is always a multiplier effect of these promotions. To make the bundle attractive, a very effective way is to put a time limit or expiration on the package. The 'fear of loss' factor adds additional pressure to the decision making.