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Cross Selling

So much is said about the need for intermediaries cross selling of ‘other products’ at mortgage interviews. In reality, selling of these ‘other’ products has probably kept many intermediaries afloat in the past few years.
Now that the market is picking up, I hope that these ‘other products’ continue to get the attention they deserve.
I would like to suggest that by thinking of these products as ancillary to the mortgage interview is perhaps missing an opportunity to offer a more holistic service.
By making a checklist of all the products that the average customer should be interested in and bringing all these products to the attention of the customer upfront in the sales process should ensure customers are aware of what is available from the intermediary.
In this way, customers will really value the ‘holistic’ service the intermediary is providing and also ensure that any regulatory requirement to identify and address relevant needs is fully met, and also build a cross section of income streams not just reliant on mortgages.
In addition it will ensure that customers are not be tempted to go to another organisation for these products and so the intermediary is protecting the customer from being ‘signed up’ by someone else now and into the future.
It will also mean that intermediaries have regular opportunity to re-visit customers across a range of products to spot opportunities and therefore cement the relationship for future sales without the need to advertise and pay for new leads.
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