Upselling strategies maximize the value of customers who are already considered high potential. For example, offering an upgrade to a premium card, with exclusive benefits such as cashback in specific categories or miles, can be an effective action for high-income customers.
By recognizing your more sophisticated needs, the institution czech republic mobile mobile database additional value and strengthens the relationship. In addition, upselling can also be explored in other products, such as insurance with extended coverage or personalized investment plans.
The secret is to identify the right moment to make the offer and ensure that it is perceived as a clear advantage, increasing adherence and portfolio profitability.
Downsell: Adjustment for customers who have expensive products and low adherence
Downselling is a strategy that benefits both the customer and the institution by offering more affordable solutions to profiles whose current products are incompatible with their lifestyle. Suggesting a migration to more affordable insurance, for example, keeps the customer active, but with costs that are more in line with their financial reality.
This approach also demonstrates a genuine concern for the customer’s financial well-being, which can build trust in the brand. In addition to reducing the chance of churn, it opens up future monetization opportunities as the customer progresses in their financial situation.