Search
 

For The Manager: If you must take up cross-selling, be sure to do it right

AGENTS and consultants often give me grief about columns in which I state that cross-selling is not a path to easy money and not an effective primary strategy for most agencies. My observation is simple: If cross-selling is so easy and effective, why

By Chris Burand | Updated on June 30, 2005

AGENTS and consultants often give me grief about columns in which I state that cross-selling is not a path to easy money and not an effective primary strategy for most agencies. My observation is simple: If cross-selling is so easy and effective, why haven’t more agencies done it successfully? Why have so many cross-selling strategies failed?

I’m not saying cross-selling never works. It can be quite effective under certain circumstances. But successful cross-selling requires a considerable investment of time, money and discipline. Many of the “facts” used to tout the benefits of cross-selling are oversimplified or inapplicable to insurance agencies. Articles often portray cross-selling as effortless and suggest the results are pure profit. After considering the necessary time, money and discipline, many agencies realize that cross-selling is usually no more profitable than selling to a new client. Before jumping head-first into cross-selling, ask yourself a few questions.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.