InteractCM - Fact Sheet

An organisation's business development strategy is driven by the three business priorities of acquisition, retention and growth. Cross-sell (more products per customer) and up-sell (higher value products) are important components of the mix for protecting and growing the value of the customer franchise.

The focus of cross-sell and up-sell programs should be directed towards the customers with the greatest potential for growth. This implies that the organisation has a unique profile for each high potential value customer, and can tailor its communications to the individual needs of each customer. In particular, alerts/prompts are needed at all customer touch-points to signal a customer's readiness to buy a new product or service, to suggest what that new product or service might be, and to present scripts for communication with the customer.



	Low products/customer ratio compared with industry benchmarks
	Primary business growth through customer acquisition
	Difficulty identifying potential high value customers and their needs
	Customer facing staff not skilled in "selling"
	Customer touch-points not linked to common customer data repository


	Grow the business with high potential value customers by influencing behaviour
	More efficient to grow existing customer business than acquire new customers
	Improved customer satisfaction and loyalty as a result of more personalised, relevant messages
	Increased revenue and profit


An effective cross-sell/up-sell strategy will involve the following key steps:
	Build customer profiles to enable the identification of high potential value customers. This step may involve identifying what information is needed, what information is missing, how it can be collected and then collecting the necessary information. InteractCM's Advanced Customer Profile (ACP) can provide our clients with a "fast start" for customer profiling
	Design and build the models to measure customer profitability, potential, next likely product, etc for the target customer segments
	Develop and implement appropriate cross-sell/up-sell programs, triggered by events and other indicators provided by the customer behaviour models
	Establish effective monitoring and review processes to ensure that the program is achieving the desired outcomes

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