Upselling and Cross-Selling

If you want to win at retail, you need to win with women. They are quickly gaining control of the markets… NielsenIQ found that women own nearly $32 trillion of worldwide spending, and in five years, they’ll be responsible for 75% of discretionary spending. In grocery stores specially, women are dropping on average about ten dollars more than men - something I’ve witnessed first hand 😂 So if you’re a CPG brand, what do you do? #1 Start with low hanging fruit. Consider what categories do well, and think about how you can add products to the mix. See what women are buying, and run promotions or marketing campaigns to capitalize on their interest. #2 Consider convenience. Women juggle a lot of roles and tasks. Offer online shopping with flexible delivery options, subscription services, or in-store pickup for online orders. Streamlining the shopping experience can save women time and effort, making them more likely to choose your brand over competitors. #3 Tailor to their needs. 91% of women believe brands don’t understand them. Figure out what they want, do some research, and cater to those interests. Women have been found to value equality, sustainability, and authenticity - find unique, creative ways to tell those stories of your brand. Show them you’re listening.

Most people fail in Bancassurance because they think it’s just about selling policies. It’s not. Bancassurance is about trust, partnerships, and protection. When done right, you’re not just selling insurance—you’re strengthening the bank’s value to its clients. Here’s the playbook top performers use: 1. Win the bank staff first – if they trust you, they’ll open doors. 2. ⁠Know both sides – show how insurance complements banking. 3. ⁠Profile smartly – the bank’s data is gold, use it wisely. 4. ⁠Be visible – presence in the branch builds credibility. 5. ⁠Educate, don’t sell – clients buy solutions, not pressure. 6. ⁠Cross-sell with purpose – position insurance as protection, not an extra cost. 7. ⁠Stay compliant & sharp – credibility is everything. Bancassurance isn’t a transaction—it’s a partnership. Success comes when you stop “selling insurance” and start protecting financial futures. If you’re in bancassurance, this is your success roadmap. #Bancassurance #BancassuranceKenya #InsuranceSales #FinancialAdvisors #Banking #Insurance #SalesExcellence #FreddyExplains

The shift from Customer Success to Account Management isn’t just a title change. It’s a complete mindset shift. Top organizations are walking a tightrope - realigning incentives, enabling their teams, and making tough calls on who truly fits this new hybrid role. Incentives? It’s not enough to say, “go sell more.” Comp plans need to strike the right balance between rewarding customer retention and driving revenue growth. Here’s what works: 1. Base + Variable: Maintain a stable base salary but introduce a variable component tied directly to upsell and expansion targets - typically 10-20% of total OTE. 2. Retention Bonus: Reward CSMs for renewals with a lower commission rate (2-3%) to maintain focus on customer success. 3. Expansion Accelerator: Upsells and cross-sells should have a higher commission rate (5-10%) to encourage revenue-generating behaviors. 4. Team Targets: Consider overlaying team-based bonuses to promote collaboration between CSMs and AEs on complex deals. The key? Make sure incentives don't push CSMs to prioritize revenue at the expense of customer trust. It’s a fine line. Enablement? It’s not just about product knowledge anymore. CSMs need: - Sales Training: Discovery skills, objection handling, and negotiation techniques. - Commercial Awareness: Understanding pricing structures, contract terms, and how to position upsell opportunities naturally during success calls. - Playbooks: Clear frameworks that outline when and how to introduce commercial discussions without derailing the customer relationship. And the hardest part? Tough calls. Not every CSM will thrive in this hybrid role. Some are natural relationship builders who shy away from sales. Others will embrace the challenge and flourish. The best orgs are upfront about this and are offering distinct career paths: - Customer Advocate Path: For CSMs who want to deepen relationships and focus solely on retention. - Commercial Growth Path: For those eager to take on upsell/expansion responsibilities and earn variable compensation tied to revenue. Balancing customer happiness with revenue growth isn’t easy. But when done right? It’s a force multiplier.

With 3.2 million bank customers holding insurance policies, Nubank has quietly built one of the most powerful loyalty engines in modern banking. The world's largest and fastest-growing neobank is proving that insurance isn't just protection. It's a growth product. Their insurance adoption is outpacing user growth Since 2023, Nubank's total customer base grew ~35%, but insurance subscribers nearly doubled. What it means for their business? 💰 Predictable, recurring income Nubank is expected to generate US $33.6 million in insurance commissions this year, and this for them is a predictable recurring income grow YoY. 📈 Higher engagement and retention Per their own disclosure — "The continued growth in ARPAC is primarily driven by higher product adoption, particularly credit cards, investments, and insurance." "Customers with multiple products tend to transact more frequently and remain longer within our ecosystem." Insurance users are stickier. They use more products, generate higher ARPAC, and are less likely to churn. Why it works? Here is what they had to say - 1. Seamless digital integration: "Growth in insurance customers was driven by simple digital journeys integrated within the Nu app." 2. Smart cross-sell: "The increase in insurance adoption reflects our ability to cross-sell protection products to existing credit and savings customers." 3. Affordable, inclusive design: "Adoption has been fueled by affordable pricing and product designs tailored for underserved and low-income segments." What Credit Unions, Regional banks and other Fintechs can take away from this: 1. Insurance deepens member relationships It’s not just about selling cover, it’s about amplifying the value of everything else you offer. Insurance strengthens trust, drives more frequent interactions, and increases engagement across other products. 2. Keep it embedded and effortless Members shouldn't have to leave your ecosystem to protect what matters. Insurance should live where they already bank. 3. Get marketing and operational lift, not extra workload Nubank's growth didn't come from outbound selling - it came from smart, data-driven cross-sell inside trusted channels. 4. Choose insurance products that reflect your purpose Nubank picked life and credit protection first because they aligned with with what the brand stood for: financial empowerment and resilience. Eleos Life is your B2B2C insurance partner - offering white-labelled, embedded life and income (disability) insurance powered by AI guidance and free wellbeing perks. No hassle. No cost. If Nubank can turn millions of customers into loyal policyholders, Eleos makes it effortless for you to do the same. More about us in the comments.

We don't ask for referrals. Ever. Here's what we do instead that drives more business. While other brokers chase referrals, we've built our growth on something more effective: Cross-selling. Most advisors will tell you that referrals are what keep the business going. But I've found that constantly asking clients for referrals can come across as desperate and damage the relationship. Instead, we focus on a three-step approach that creates natural opportunities: 1️⃣ I answer their immediate question and provide excellent service. This builds trust. 2️⃣ I let them know about our admin team, who can handle day-to-day issues. This shows we have infrastructure. 3️⃣ I briefly mention other services we offer that they might not know about. This third step is where the cross-sell happens. Often, I'll uncover gaps in their current coverage that they weren't even aware of. By identifying a genuine need and offering a solution, I'm providing value, not asking for a favor. The result? We cross-sell additional policies while making clients feel like we're looking out for them. Of course, when referrals come naturally, we welcome them with open arms. But we never put clients in that uncomfortable position of asking their network on our behalf. This approach allows us to build deeper relationships with existing clients Instead of constantly chasing new ones through their connections.

Cross-selling life, health, and supplemental insurance products effectively requires a client-focused, data-driven, and trust-based approach. Here are the best strategies: 1. Leverage Existing Relationships and Trust • Personalized Reviews: Schedule annual policy reviews to evaluate needs and introduce relevant add-ons (e.g., critical illness with life insurance). • Educate, Don’t Just Sell: Use these reviews to explain why additional coverage matters—health risks, income protection, rising healthcare costs, etc. 2. Segment and Target Strategically • Profile by Life Stage & Risk Exposure: • Young families: Life + health + accidental death. • Empty nesters: Life + critical illness + LTC or cancer policies. • Seniors: Medicare Supplement + final expense. • Use Data and CRM Tools: Identify clients with only one product and predict next-best offers. 3. Bundle for Value • Create Packages: Offer bundled pricing or incentives (discounts, simplified underwriting). • Simplify Messaging: Position bundles around peace of mind, not just price (e.g., “Complete Family Protection Plan”). 4. Train Your Team in Needs-Based Selling • Not product-pushing: Cross-selling should solve problems, not push policies. • Use fact-finding tools or risk assessments to reveal gaps. • Train reps to ask open-ended questions like: • “If something happened to you tomorrow, how would your family manage financially?” • “Have you thought about how you’d pay your bills if you couldn’t work for 3+ months?” 5. Use Trigger-Based Campaigns • Set up automated emails or call reminders triggered by: • Policy anniversaries • Claims made • Milestones (turning 26, 50, retirement) • New product launches 6. Educate Through Multiple Channels • Email newsletters, webinars, or short videos that break down: • Why life and supplemental policies matter • Real-life scenarios (client stories or testimonials) • Offer free resources like “Insurance Checklists” or “Protection Gap Calculators.” 7. Make Enrollment Simple • Pre-fill application forms when possible • Offer e-signatures and virtual meetings • Use simplified issue products where underwriting is minimal 8. Track & Measure • Monitor which cross-sell campaigns work best • Track metrics like: • Policy-per-client ratio • Retention rates • Uptake on specific bundles

It’s tempting to default to discounting — it’s quick, easy, and everyone loves a good deal. But, here's the catch... Relying too heavily on discounts can erode your brand’s value over time. It’s like running on a hamster wheel. You can never stop running (discounting) or you’ll get yourself flung off into the stratosphere. Good news, though. There’s a better way to drive growth without signing up for a lifetime of margin drain. It’s called cross-selling. And once you nail it, you’ll never want to run another discount again. Here are three reasons why cross-selling is a healthier alternative to discounting... REASON 1: IT BOOSTS AOV WITHOUT DEVALUING PRODUCTS Discounting often leads to more sales and higher order values, but it also leads customers to expect lower prices, making it almost impossible to sell at full price later. Cross-selling, however, focuses on offering complementary products instead of cutting prices, which increases the value of the customer’s purchase, all without lowering prices or hurting your brand’s reputation. REASON 2: IT MAINTAINS BRAND INTEGRITY While discounts can bring short-term gains, they also tarnish your brand’s image, suggesting that your products aren’t worth their original price. Cross-selling, on the other hand, enhances the customer experience by showing you understand their needs and are providing valuable solutions. Discounting is a race to the bottom. Cross-selling is a strategy for building trust and loyalty over the long-term. REASON 3: IT STRENGTHENS CUSTOMER RELATIONSHIPS Cross-selling isn’t just about increasing sales; it’s about providing a better customer experience. By recommending relevant products, you’re showing customers that you understand them, which leads to stronger relationships and higher customer satisfaction. It also helps customers get better outcomes from their purchase, which will increase your repeat purchase rate and generate more word of mouth referrals. Discounting is like the “Easy Button” of ecommerce growth. It feels rewarding, because you can always run another promotion to juice sales right away. But, like so many other areas of life, there is no magic pill for creating sustainable growth overnight. Eventually, all of those “shortcuts” catch up to you. Over a long enough time horizon, cross-selling beats discounting every time. It boosts AOV, maintains brand integrity, and fosters stronger customer relationships. So next time you’re tempted to slash prices, choose the “hard right” over the “easy wrong.” Your future self will thank you for it.

If the insurance industry is going to earn respect and trust with the business community, how about we start with... Stop training insurance producers to be telemarketers like it's 1995...it's ruining their careers. I have to call this out because it has to stop at some point. I keep seeing the same tired, old-school sales advice from a so-called “insurance sales coaches”, like this one: "You don’t have time to screw around when your pipeline is empty. Just pick up the phone. Do your research after the meeting is booked." What? Are you serious? And that… that right there is exactly why our industry is in this mess. Let me break this down: → We’re training producers to act like commodity-peddling telemarketers… → …instead of Industry Niche Specialists, Risk Architects, Advisors, and Experts who business owners actually respect. We have producer licenses. We study for years. We learn risk management, compliance, contracts, indemnification, mod analysis, TCOR and the intricacies of how entire industries work. So why the hell are we training new producers to “smile and dial” like they’re slinging used cars? If all you’re doing is cold calling without understanding the problems your "Ideal Client" actually faces... → You don’t have a pipeline problem. → You have a strategy problem. → You have a differentiation problem. → You have an industry niche MASTERY problem. Here’s what we BELIEVE, teach and has proven to get RESULTS instead... because this is what actually works in 2025: 1) Pick your niche. Master it. Know the exposures, regs, contracts, risk factors, mod volatility, claims trends — ALL of it. 2) Do your market research FIRST. Know the industry, target decision-makers and their businesses better than your competition (this is about quality, NOT volume). 3) Build your “Dream 100” list of decision-makers and your “Top 25 COI Referral Partners.” Think chess, not checkers. 4) Create daily content solving painful problems in your industry niche. Lead with thought leadership. Let them binge your content. 5) Execute my “Core 3” Outbound System. Blend cold outreach with warm referrals and smart, strategic content that builds trust. 6) Show up like a pro. Stop calling yourself a “Producer.” You’re a Risk Architect. Trusted Advisor. Start acting like it. 🔥 This isn’t about being soft or overthinking things. It’s about doing it right. The insurance producer of the future isn’t a cold calling telemarketer. They’re a trusted advisor. A niche specialist. A revenue-driving business consultant. If you don’t think that matters? Then wait until AI-powered phone bots start doing the same volume dials better than you can. That day is ALREADY here (I had one from a well respected specialty MGA call me and it was brilliant!) You can either become the Risk Architect they can’t replace… Or be the next casualty of the commodity game. Your call. ❓Who do you think makes more money in this industry? Earns respect?

🆘 #gameon: I am shocked, but we have seen it all coming - new #insolvencies are surfacing daily ❌ SportScheck ❌ Signa Holding ❌ all Galeria stores next? It is brutal out there in retail right now 🌩 The #sportsmarket is consolidating. 🏏 I am convinced: You can only influence your own company effort not the market! During my time working for the #Ottogroup, #SportScheck has always been the cooler, more agile place to work we envied with jealousy from the Hamburg headquarters. But it has also been the topic of many board meetings for years, being the struggeling child the parents believed would grow eventually into a profitable adult Marcus Ackermann So, what could be an answer to this situation for the sports and fashion players? 1️⃣ Do your solid #homework! 2️⃣ Show your #effort! 3️⃣ Step up real #leadership! Tatics, short-term actions and defensive mechanisms will not secure growth, a prosperous business. Analyze and understand: 🎱 Which area of excellence hold relevance 🎱 Deliver an competitive advantage hard to copy 🎱 Validity of your business model 🎱 Corporate beliefs and processes creating complexity 🎱 Consumer segments with potential and their drivers Why are women as target audience for sports brands and retailers worth to analyze thouroughly? There is a great chance, #SheMeansBusiness for your sports company - why? 📍 Personal health, feeling fit and happy is the Nr. 1 motivation for women to exercise and will remain in recession times like these 📍 Women shop on impulse: if you can excite them - you can sell them! 📍 Price plays a secondary role when the product matches her needs which makes women less inflation-volatile then men 📍 Women are the largest growing number of participants in sports events (see Berlin Marathon 2023) 📍 Women are more curious to try new sports with Trialrunning, MTB and watersports being at the top of the list Building on my 22+years of experience selling to female consumers, I have executed an in-depth study with 1.400 women in Germany together with fiedler & peter concepts GmbH Monika Fiedler-Proksch about women's personal relation to sports and what influences their shopping behavior of sporting goods. To receive more Female Consumer Insights, check my blog article and register for our Whitepaper “Unlocking Her – Women and Sports 2023” including a market analysis and all insights from the study 🚀 link in comments ⬇