Cross-Sell

AAA

DEFINITION of 'Cross-Sell'

The practice of selling or suggesting related or complimentary products to a prospect or customer. Cross selling is one of the easiest and most effective methods of marketing. In the financial services arena, cross selling can mean selling different types of investments to investors, or even insurance to investors, or tax preparation to retirement planning clients.

INVESTOPEDIA EXPLAINS 'Cross-Sell'

If done effectively, cross selling can mean significant profits for stockbrokers, insurance agents and financial planners. Income tax preparers who are licensed can offer insurance and investment products to their tax clients, and this is among the easiest of all sales to make. Effective cross selling is not only a good business practice, but is effective financial planning as well.

RELATED TERMS
  1. Annuity

    A financial product sold by financial institutions that is designed ...
  2. Financial Planner

    A qualified investment professional who helps individuals and ...
  3. Unit Investment Trust - UIT

    An investment company that offers a fixed, unmanaged portfolio, ...
  4. Mutual Fund

    An investment vehicle that is made up of a pool of funds collected ...
  5. Partnership

    A business organization in which two or more individuals manage ...
  6. Case Management

    Planning, processing and monitoring the healthcare services given ...
Related Articles
  1. Do You Need A Financial Advisor?
    Personal Finance

    Do You Need A Financial Advisor?

  2. Financial Planning: It's About More ...
    Retirement

    Financial Planning: It's About More ...

  3. An Introduction To Fiduciary Advisors
    Professionals

    An Introduction To Fiduciary Advisors

  4. I want to start buying stocks. Where ...
    Retirement

    I want to start buying stocks. Where ...

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center