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 that pays out a fixed stream of payments ...
  2. Unit Investment Trust - UIT

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

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

    A business organization in which two or more individuals manage ...
  5. Financial Planner

    A qualified investment professional who helps individuals and ...
  6. Comprehensive Glass Policy

    An insurance policy that covers glass that has been broken or ...
RELATED FAQS
  1. I want to start buying stocks. Where do I start?

    In order to buy stocks, you need the assistance of a stockbroker who is licensed to purchase securities on your behalf. However, ... Read Full Answer >>
  2. Are professionals, such as financial planners and brokers, liable for the advice ...

    In the U.S., the Securities and Exchange Commission (SEC) does its best to protect investors from being cheated. To do so, ... Read Full Answer >>
  3. What happens if my insurance claim falls below the deductible level?

    Though the ins and outs of health insurance are often confusing, the concept of the insurance deductible is relatively straightforward. ... Read Full Answer >>
  4. How is the deductible I paid for my insurance claim treated for tax purposes?

    The deductible you pay on your health insurance policy may be tax-deductible if you meet certain conditions. However, whether ... Read Full Answer >>
  5. How does a long tail become profitable?

    A long tail becomes profitable because the costs to produce, market and distribute a product or service in a niche are low, ... Read Full Answer >>
  6. What are the main factors that impact share prices in the insurance sector?

    The main factors that impact share prices in the insurance sector are interest rates, earnings and actuarial risk. In the ... Read Full Answer >>
Related Articles
  1. Personal Finance

    Do You Need A Financial Advisor?

    Not everyone needs a professional. Find out how to make the call.
  2. Retirement

    Financial Planning: It's About More Than Money

    Determine what you need to do now to make a drastic lifestyle change later.
  3. Professionals

    An Introduction To Fiduciary Advisors

    Offering personalized solutions in a world of cookie-cutter advice may be your ticket to career perfection.
  4. Budgeting

    Dispelling 5 Myths About Financial Planners

    Raise your returns or lower your losses; these often misunderstood specialists can help guide you.
  5. Insurance

    Advice For Finding The Best Advisor

    There are several areas you should research when making this important decision.
  6. Economics

    Understanding the Product Life Cycle

    Product life cycle is the period of time during which a product is conceived and developed, brought to market and eventually removed from the market.
  7. Insurance

    How Does Cash-Value Life Insurance Work?

    Cash-value life insurance pays a beneficiary upon the death of the policyholder, and accumulates a cash value during the policyholder’s lifetime.
  8. Budgeting

    How to Defray Long-Term Care Expenses

    Here's a handful of options on what you can do to defray long-term care expenses.
  9. Investing Basics

    Top 3 Ways to Manage Lump-Sum Windfalls

    Have you just had a load of money drop into your lap? If so, several enviable options are available to you. Which one is the best choice?
  10. Professionals

    Advisors: Get Those Referrals! (Here's How)

    If you're not talking to your clients about referring you to friends, you should be.

You May Also Like

Hot Definitions
  1. Hedging Transaction

    A type of transaction that limits investment risk with the use of derivatives, such as options and futures contracts. Hedging ...
  2. Bogey

    A buzzword that refers to a benchmark used to evaluate a fund's performance. The benchmark is an index that reflects the ...
  3. Xetra

    An all-electronic trading system based in Frankfurt, Germany. Launched in 1997 and operated by the Deutsche Börse, the Xetra ...
  4. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
  5. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  6. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!