Case Study: Midwestern Bank refines up-sell and cross-sell strategy with PeopleMetrics VoC insights

Midwestern Bank improves cross-sell timing by following up 60 days later with PeopleMetrics

A midwestern bank wanted to determine if its existing strategy of up-selling and cross-selling products during the loan application process was effective. The bank partnered with PeopleMetrics, which utilized a Voice of the Customer (VoC) feedback program to survey new loan and account customers about their experience.

PeopleMetrics incorporated specific survey questions to measure if customers received and recalled product information. The findings revealed that loan customers were annoyed by brochures during their transaction and were primarily focused on the bank's ability to service their loan. Using this feedback, the bank changed its tactics, focusing on service first and then following up with approved customers 60 days later. PeopleMetrics' data showed customers were far more receptive to product offerings at this later time, allowing the bank to refine its strategy while maintaining a positive customer experience.