CONQUERING THE CROSS-SELLING IMPERATIVE

JOANNE BAZ SUE BLASAVAGE

Cross Helping Your Way to Increased

Customer Profitability

Presented by:

Sue Blasavage

SVP, Retail Sales Manager

Agenda

• Trends

• Cross Helping Success

• Critical Success Factors

• Best Practices

Union Savings Bank

• Mutual community bank in western CT

• $2.4 billion in assets

• 28 branches plus call center

• Full service – retail, commercial, wealth

management

Household and Cross Sell Summary

• 51,038 Households

• 3.652 Accts per HH

• 2.127 Services per HH

• 70% checking account penetration

• 30 %still single service – great opportunity

to cross help our ss hh’s

Trends

• Branch traffic/transactions continue to

decline rapidly due to electronic delivery

• Customers who visit the branch are

seeking expert advice from trusted

professionals

• Can no longer apply one method of selling

to all customer segments

Cross Helping Success

• Paradigm shift from cross selling to cross helping

− Bank Mission Statement sets the bar high

• Foster a bank culture of exceptional service – it directly relates to cross helping success

• Require that team members engage in more meaningful relationship building discussions starting at teller line

• Electronic delivery channels can enhance customer experience

− Use your team to showcase your electronic channels

Critical Success Factors at USB

1. Systems – customer relationship

accessible to all reps who interact

with clients

2. Defined Sales Process

- SCORE

- High Touch Lobby Engagement

- Relationship Building Scorecard

Critical Success Factors at USB (continued)

3. Clear Job Descriptions/Clear Expectations for sales staff (hire the right people for sales)

4. Training and Coaching

− Soft Skills on how to build relationships by asking the right questions every time

− Practice, Practice, Practice

− Consistent and positive feedback from Manager when back in branch

Critical Success Factors at USB (continued)

5. Reward and Recognition Programs

− Weekly feedback for those who show positive

behavior change

− Quarterly Incentive tied to relationship building

− Mystery shop program tied to relationship

building

− Formal monthly coaching to celebrate success

Best Practices

• High touch lobby engagement

• Designed and implemented relationship building

template that is required in every platform interaction

• Developed and Implemented Sales training to focus on

how to ask the right questions

− When right questions are asked, the customer self

identifies the need and the sale becomes a solution to

help the client meet that need

• Track, measure , and reward incremental changes in

behavior

• Managers required to observe and provide feedback

• Package products/services

Cross Helping Tactics

• Weekly Conference call for Wealth Management (record results in last year)

• SBLI Reps (record results)

• Training, Tools, Coaching, and Employee Engagement

• Outbound sales through call center

• Outbound calls 3 - 5 per branch rep each day

• Maximize email blasts to reach clients

• Pre-approvals with easy to sign up methods

Online banking, e-statement, cash reserve

Sue Blasavage

Union Savings Bank

T: 203.830.4200 ext.8298

sblasavage@unionsavings.com

Awilda Caisse

Union Savings Bank

T: 203.830.4200 ext.4252

acaisse@unionsavings.com

CONQUERING THE CROSS-SELLING IMPERATIVE

JOANNE BAZ SUE BLASAVAGE

JOANNE BAZ . VICE PRESIDENT

REGIONAL BRANCH MANAGER

Talking Points

Background

Mission Statement

In the Beginning

Sales Journey

Successes

Background

Opened in 1915, oldest credit union in State of RI

1.3 Billion assets

13 Branch offices

62,400 members in 42,571 households

3.5 services per household

Service offerings include

Retail Banking & Lending

Commercial Banking and Lending

Financial Services

Mission Statement

To Improve the Financial Lives of Our Members

In the Beginning

Great order takers

We asked ourselves…. Are we really improving the

financial lives of our members?

Found the need to become proactive consultants

Compensation was not goal oriented

Our Sales Journey

3-5 year process

Hired trainers

Developed tracking systems

Empowered front line staff

Allowed for performance accountability

Implemented goal-oriented compensation

Current Successes

Fostering better relationships through education

Growing PFI relationships

Increasing growth organically

Exceeding service standards

Achieving strategic deposit and lending goals

Developing profitable memberships

QUESTIONS?