Research On Cross-selling In The Financial Sector

Because of severe competition and market saturation, it is more and more difficult for companies to acquire new customers. So the companies begin to attach more emphasis to existing customers. As a new marketing method, cross-selling respond to this change perfectly, And the development of IT makes it easier to implement. As far as the financial sector in China is concerned, cross-selling will be more fruitful and less difficult. This dissertation discusses the theory and practice of cross-sellingThe research of cross-selling in China is still in the preliminary stage, and somebody is not familiar with this field, so the author dwells on the concept of cross-selling, its theoretical foundation and technical basis firstly. Then, he focuses on financial sector, and demonstrates the necessity and benefits of cross-selling. Subsequently, the author proposes that the cross-selling process of financial organization is composed of four steps: acquiring and integrating the customer information, identify the opportunity of cross-selling, implementing cross-selling and evaluating the effect. Finally, taking the data of personal loan as a sample, which comes from a commercial bank in Wuhan, the author studies the possibility of identifying the opportunity of cross-selling in existing customers, and discusses the result.