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The New Rules of Cross Selling

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•14 year old Financial Marketing Company

•Principals have spent a majority of their careers in the financial services and marketing industries

•Work with financial institutions of all sizes in helping them generate more sales through more channels

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Agenda

• Marketers’ Focus Today

• Why So Important?

• The Emotional Engagement

• How to Make Content Sell

• The Financial Focus

• Build or Buy Considerations

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Marketers’ Focus Today• Q1 2014 Financial Brand survey of senior

marketing executives (233 FI sample by Aite’ Group)

• Top 3 marketing priorities• Improve share of wallet – 70%• Grow loan volume 53%• Acquire new customers/members 35%

• Face a continuing puzzle – frequent contact through multiple channels yet share of wallet remains only 2 out of 10

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Today’s Challenge• The downside of digital growth

• Technology = lower transaction costs• Technology = higher customer remoteness

• Rapidly changing customer dynamics• 34% Haven’t been in a branch in 6 months

(bankrate.com)• Millennials see branch as irrelevant with 92% preferring to do their banking online (TD Bank Study)

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What Needs to Happen?• Engaging customers in a more meaningful way

that is more than a longer list of product offerings

• Building a brand image beyond a place to go for transactions

• Being seen right away as a place to go for more financial needs

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Engagement is Key• Gallup research “customers that are fully

engaged represent an average 23% premium in terms of share of wallet, profitability, revenue, and relationship growth.”

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Additional Engagement Needed

•Fact 1: People are looking for easy to understand answers to their financial questions.

•Fact 2: People will buy from the one who provides it.

Source:Next Century Media

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Additional Engagement Needed

•Fact 3: This is especially true around life events when, according to Forrester Research, they are 43% more likely to buy a financial product.

•Fact 4: You want to engage in a meaningful way that makes you that resource for answers,

not the competition.

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Engagement With Content Marketing

• A Teach not Sell approach - “People want to be taught not sold” Joe Pulizzi, Content Marketing Institute

• Creating and distributing relevant and valuable content to attract, acquire, and engage customers.

• Not a sales messages that interrupts but something that draws people into a dialogue.

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Make it EmotionalFeelings are Facts - “Only 30% of human decisions and behaviors are actually driven by rational considerations” – Nobel prize winners

Gallup – “Emotionally connected customers tend to deliver significantly enhanced business results when compared to their rational counterparts.”

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Emotional Connection

• Save money (Satisfaction)• Avoid mistakes (Fear)

• Protect those who count on you (Confidence , Lack of Guilt)

Promote the emotional benefits of what you can do for your customers

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Three Critical Elements to Make Content Sell

• The Content

• Delivery Platform

• Channel Engagement

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What Type of Content is Needed?

• Your customer needs…

BroadBrandedEasy to navigateEasy to read and understand. No jargon!

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What Type of Content is Needed?• Your institution needs…

Professionally created and maintained to satisfy legal, tax and regulatory changes.

Compliance reviewed including FINRA review letters for investment related content

Reviewed and approved by B/D compliance department

Expanded as needed to reflect changing rules and regulations

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Takes More than Content

• Content that sits idle is not helping your customers and not helping your financial institution

• Its more than just passively offering financial literacy or general education

• Most people react to events as they occur

• They want just the answers they need at just the time they need them

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• Relevant content is great- but it’s level of effectiveness depends on DELIVERY.

• Delivered around life events when people are looking for answers and more likely to buy.

• Delivered in a way that engages people and allows them to uncover hidden needs.

• Delivered in a way that connects them with the person who can help with those needs.

Delivery Platform is Key

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Examples of Delivery Platform

Financial Answer Center

Business Answer Center

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Engagement Through Channels

CompellingMessage

Delivered through traditional and digital

channels

To initiate dialogues with the person that

can help with

Leverage existing branch and online channels to build awareness promote usage of a new value added service.

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Engagement in the Branch

Onboarding

Account Servicing

Frontline employees introduce the content as a value added service and offer guides relevant to their life events as a part of their everyday service-focused routine. The request for a guide is an automatic lead.

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Selling Confidence

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Automated Fulfillment

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Engagement Through Website

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Engagement Through Email

Feature your content in emails to your members!

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Twitter Solution Facebook SolutionEdu PostsEdu Tweets

Engagement Through Social Media

Promoted for relevance and value to get followers (eg. Tuesday’s Tips)

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Engagement Through Mobile

EZ Viewer

All content and features of the Financial Answer Center are formatted for easy access through mobile devices

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Worksite EngagementFinancial education is one of the most rapidly growing employee benefits. Your business customers can provide it to their employees with a simple link.

Link to Financial Answer Center as an employee benefit draws employees of business customers to you for financial education and people that can help

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Bringing it all Together: Content Calendar

• Three step plan for getting your content out there:

• Message

• Timing

• Delivery channel

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The Financial Focus• If 1 in 3 appointments buy with an average net

present value per sale of $2000 (deposit, loan, mortgage, investment, insurance, etc.) the value of 1 sales appointment is $660

• If a single branch has 4 more sales appointments week, that is $126,000 per branch per year

Make your own assumptions using a Revenue Opportunity

Calculator at www.Truebridge.com

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Build or Buy Considerations

• Strategy is simple enough, but in order you build, you must:• Create• Maintain• Host

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Build or Buy Considerations:• Affordable monthly subscription includes:

• Full turnkey Content Marketing System

• Customized to match your look and feel

• Integrated employee pictures and contact information

• Professionally maintained by a top national accounting firm

• Individual customer service to ensure active usage and shared “best practices”

• Hosted through top-ranked secure facility

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In Closing…•People are looking for help.•They make decisions emotionally.•Content marketing can establish that

emotional bridge beyond the transaction.•Putting you in place for the product

solution ahead of the competition.

“We are living in a content-driven economy. You cannot survive in the banking space today without a content marketing strategy.”

Jeff Pilcher, The Financial Brand

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So, What’s the Next Step?

•Schedule a 1 on 1 demo- learn more at www.truebridge.com