Abstract:

In 1973 at Amro Bank started a program specifically aimed at our own customers informing them that like in a supermarket, we are delivering different (financial) services. They were invited to make use of several more services: a savings account next to a current account, a furniture insurance next to a mortgage, foreign currency next to a planned vacation, etc. It goes without saying that a vital part in the cross- selling was played by the personnel in the branch offices. They knew the client, his circumstances, his actual services, his needs; thus, they were more capable in advising customers of possible additionally desired services suited to their particular needs. However, in order to be successful we had to use other techniques as well. For, time is money, and it would have been too costly & time consuming by giving full liberty to our personnel in order to advise our clients individually. There were more than 3 million interesting private clients; consequently, we decided to use mass media on a individually-directed basis. Next to that there were another 12 million potential private customers in Holland who needed financial advice.