An Exercise in Selling

Want fries with that burger? How about a grande cup of Starbucks coffee rather than a tall? If you said yes to either question, I've just been able to cross-sell or up-sell you. Done deal . . . as easy as that.

So, how come when it comes to financial service products, achieving similar successes hasn't been that simple? If you poke around some insurer Web sites, carriers do exhibit a predisposition toward cross-selling. For example, Aetna last month completed the acquisition of the disability business of Broadspire, a supplier of disability and casualty claim management services. "We believe it will provide significant opportunities to cross-sell medical, disability, group life, and other products within both the Aetna and Broadspire disability business' customer base," declared Ronald A. Williams, Aetna CEO and president. Prudential Financial's site for its real estate business says, "PREA [Prudential Real Estate Affiliates] will facilitate the cross-sell of other Prudential products. . . . PREA will be a leader in the use of the Internet and implement e-commerce strategies to improve customer service and tie in cross-sell opportunities." The First American Title Insurance Company has a cross-sell division, and its "strength," per the carrier's site, is bringing the company's "multiple products and services to our customers through a single source of contact."