- Universal Use Case
EFFECTIVE B2B CROSS-SELL & UP-SELL
How Profisee can help organizations effectively cross-sell and up-sell services to complex customers spanning different business lines, brands, product offerings and geographies.
Data-driven targeted cross-sell & up-sell
Organizations that have multiple divisions or that have grown through acquisition all realize the potential of cross-selling and up-selling products and services to existing customers. This not only increases per-customer revenue but can also reduce customer churn. However, effective cross-selling and up-selling is often more difficult than it seems due to complexity of systems, B2B customers themselves and disparate data silos.
Data Domains
Customer, Business Partner, Product
Business Problem
Unraveling complex customer relationships
Teams Impacted
Sales, Revenue
MDM Impact
Increased revenue and reduced customer churn
Business Problem
Data Strategy
Outcomes Business Problem
Complex Relationships & Siloed Data
- Missed opportunities to expand customer revenue: Although most organizations pursue cross-sell opportunities, it is often done haphazardly and without accurate, timely insights. Some organizations will identify opportunities and capitalize on them, but many will also miss them.
- Customer-facing teams impeded by lack of insight: Uncoordinated customer interactions across product and service lines lead to missed revenue expansion opportunities and create a negative customer experience.
- Emerging customer needs fulfilled by competitors: Without full visibility into customer relationships, customers unaware that your organization has offerings to meet their emerging needs may be forging agreements with your competitors.
- Customer churn: Customers may completely churn if they are experiencing uncoordinated engagement or fulfilling needs elsewhere.
Data Strategy
How MDM Can Drive Effective Cross-Sell
- Leverage intelligent fuzzy-matching to resolve commercial identities: When it comes to missing or inaccurate data, identifying like entities requires more than a simple tax ID match. Profisee’s multi-layer fuzzy matching engine can resolve entities — even with partial or incorrect data.
- Enrich customer data with third-party legal entity information: Profisee can use corporate hierarchy data and changes from third-party providers to create a centralized view of complex business entities. This allows you to identify cross-sell opportunities across corporate siblings, parents or children.
- Automate and streamline data steward review and adjudication: Define business rules and workflows to empower teams to quickly and efficiently resolve data and matching issues that can’t be fully automated.
Outcomes
Business & Financial KPIs Positively Impacted
- Increase customer lifetime value: Effective cross selling increases customer lifetime value, impacting loyalty and profitability and reducing servicing costs.
- Increase customer profitability: In addition to reducing the costs of new customer acquisition, customers with multiple products and offerings present opportunities to streamline servicing costs and increase overall profitability.
- Reduce customer churn: Risk of total customer churn has an inverse relationship to the number of products and services consumed. Customers with numerous products and services are far less likely to churn or fully adopt emerging competitors.
- Gain competitive advantage: Increasing customers’ products and services increases market share, builds customer loyalty and mitigates risk.
