How do you align cross-selling incentives with your bank's strategy and values?

3 Set SMART cross-selling goals and metrics

After you have identified your target segments and products, you need to set SMART cross-selling goals and metrics. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Your cross-selling goals should be aligned with your bank's strategy and values, as well as your tellers' roles and responsibilities. Your cross-selling metrics should be quantifiable, realistic, and meaningful, and reflect both the quantity and quality of your cross-selling performance. For example, you can measure the number of cross-selling referrals, conversions, revenue, customer satisfaction, retention, and referrals.

4 Design fair and motivating cross-selling incentives

Next, you need to design fair and motivating cross-selling incentives that reward your tellers for achieving their cross-selling goals and metrics. Your cross-selling incentives should be based on the value and difficulty of the cross-selling activities, as well as the tellers' performance and contribution. Your cross-selling incentives should also be transparent, flexible, and balanced, and avoid creating conflicts of interest or unethical behaviors. For example, you can use a combination of monetary and non-monetary rewards, such as commissions, bonuses, recognition, feedback, training, and career development.

5 Communicate and train your tellers on cross-selling

Finally, you need to communicate and train your tellers on cross-selling, and provide them with the necessary tools and support. Your tellers need to understand the benefits and expectations of cross-selling, as well as the rules and guidelines of your cross-selling incentive program. Your tellers also need to develop the skills and confidence to identify, approach, and persuade customers to accept cross-selling offers, while maintaining a high level of service and trust. You can use various methods to communicate and train your tellers, such as newsletters, meetings, webinars, manuals, role-plays, coaching, and mentoring.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?