Cross-sell campaign
Also called: cross-selling campaign, existing client campaign, cross-sell outreach
A cross-sell campaign is outreach to an agency's existing clients about a product they don't have yet, such as life insurance for a Medicare client or long-term care for an annuity client.
Existing clients already know and trust the agency, so they are easier to reach than new prospects. The campaign's job is to start the right conversation: a relevant reason to talk, sent by the client's own agent.
The hard part is knowing who to contact. That starts with the agency's book of business: which clients hold one product, and which gaps are most likely to matter to them.
Cross-selling grows revenue from the book the agency already has, and clients with more than one product tend to stay longer.
"This quarter's cross-sell campaign invites Medicare clients without life coverage to a short review with their own agent."
How can an agency cross-sell life insurance to Medicare clients?
Start with the clients who hold a Medicare plan but no life coverage, give them a relevant reason to talk, such as final expense planning, and have their own agent reach out rather than a generic message.
Related terms
On RevEngine: Cross-sell opportunity