“The difference between cross-selling and cross-marketing”

Here’s the situation: you are a wealth manager and have just set up a client with an investment portfolio that is just right for them. They are satisfied, you are satisfied. During the course of your consultation with them, you identify needs for life insurance, and possibly also disability insurance and long-term care insurance.

They trust you as their professional advisor, and are open to doing additional business with you. This is a classic cross marketing opportunity. The question is: who should do the selling of the additional products?

Maybe you. You are familiar with these products, since you are in the financial services industry. You do have access to some good ones. But here’s the thing: you have generated enormous good will, and established solid credibility, as an expert in your field. If you can’t deliver the same level of service in these cross marketing opportunities, you run the strong risk of not a only losing those sales, but having your client take his core business with you elsewhere.

So what should you do? In this case, I think you should bring in an expert who is as capable in the supplemental products as you are in your core product. Let that person take care of the cross-selling for you and keep your client equally satisfied. You’ve done the cross marketing, he does the cross-selling; you both split the case, and everybody wins.

Of course, your cross-selling strategic partner should have certain qualifications. They should be a specialist in that product line, or at least a consultant who has product specialists on his team. They should be completely independent and have no bias towards any carrier. And, they should have access to all the products in the marketplace, to make sure that your clients end up with the most appropriate and competitive products for them.


This week’s seminar will take place on Thursday, January 4th, 11 a.m. to 11:30 a.m. EST.

“How to cross-sell without spreading yourself too thin!”

A sales seminar with Brian Bircher of Crump Insurance Services.

Brian is our insurance consultant with Direct Sales Assist. He will provide tips on how to best utilize his team for referred business. They will close sales for life insurance, disability insurance, long-term care insurance, and fixed annuities, and split the case with you simply for the referral.

Find out how you can generate significant commission income by taking advantage of cross-selling opportunities while staying true to your core product or service.


Come join our LinkedIn group!

“How to make your strategic insurance partnership hum with activity!”

This group is for brokers and advisers who have formed a strategic partnership with the Office of Steven H Kobrin, LUTCF/The Hardersen Group/Crump. It is also for financial professionals who want to learn more and potentially join us.

Strategic partnerships among sales people, general agents, and wholesalers are the wave of the future in our industry. Together we can bring the best products and services to more insurance consumers than ever before. This group will provide you with ideas and insights on how to do that. 

Simply click this link to join the group!   https://www.linkedin.com/groups/8635490
If you are a Linkedin member, just click the link and login.  If you are not a Linkedin member, you can join after clicking the link.