Credit Union CRM Solutions
Your credit union members may have the same or a similar product but be very dissimilar in profitability: Some have more in their checking accounts than others. Some pay more fees for overdrafts or late charges on loan payments. And some use the credit cards you issue while others don’t.
At SEDONA, we understand what drives credit union profitability. Cross-selling, upselling, and offering your members the next best products or services based on sound data is what you need to keep your credit unions’s profits percolating.
SEDONA MRM™ helps you do that. It uses analytical modeling to determine the next best profitable credit union products to sell to a particular member. Then, through the use of product affinity groups, it’s able to determine the likelihood of a next credit union purchase. This information is combined with your credit union’s unique product profitability data and product / service-line combinations to ensure ...
- that the recommended next best banking product or service is more likely to be purchased, and
- that the addition of a cross-sell or upsell product will be a profitable addition to the member’s existing portfolio.
You can also use the cross-selling / upselling data SEDONA MRM provides to determine which credit union products or services need highlighting in one-to-one marketing efforts or larger, aggregate campaigns.
Cross-selling and upselling is an art as well as a science. Contact SEDONA. We’ll give you a free demonstration of how SEDONA MRM can make you a cross-selling / upselling master.
