Cross Selling Tips for Bank Tellers
Many banks offer incentives to tellers if they cross-sell new accounts or services to customers. The incentives can significantly increase a teller’s income with monthly or quarterly bonuses. A teller should be able to suggest a product without being rude or pushy, while encouraging customers to sign up for additional services or products.
Tellers must understand the differences in each product the bank offers, as well as how the customer benefits from the product. For example, a teller should be able to list two or three advantages to the customer by switching to a higher-level checking account, such as free money orders or traveler’s checks and a higher interest rate. Tellers also should be able to explain the requirements to avoid a service fee or be able to justify a new service fee and the cost-to-benefit ratio to the customer. When you truly understand how a product works it is easier to sell. You should have a pamphlet ready to give to the customer explaining the new service or account.
When completing a customer's transaction, make eye contact and refer to the customer by name, every single time. This makes it easier to strike up a conversation about the type of account he has and other benefits that the bank can offer him. If you recognize a repeat customer and form a professional relationship, he's likely to listen to your recommendation than if the recommendation were coming from a teller with whom he's never transacted business.
Many banks require you to have a minimum number of referrals per month or quarter. You can break that down to give yourself the number you need to complete each day or each week. If you dread doing referrals, try to get the majority done at the beginning of the week, instead of forcing yourself to do them all on Friday. To break up the monotony, set goals based on the types of referrals. For example, challenge yourself to refer five customers to apply for check protection and another five to sign up for the new CD rates the bank is offering.
Banks track referrals in different ways. Some banks pay for each referral given out, and others pay only if the customer actually signs up for the product. Keep a copy of all the products you have referred each month so you can double check your records against the bank's records. If the bank is on a paper referral system, have the basic information filled out and ready for when you do make a referral. You can fill out the information needed during down time throughout the day, so you can quickly jot in the customer’s information and file the referral when it occurs.