RPM Consulting, LLCCombination Of Services Report

The Combination Of Services Report shows which product combinations are prevalent in the household base. This report can be used tactically, to suggest sensible additional products a customer or member should consider along with the base product at New Accounts. It can also be used strategically, to develop bundled or packaged products that make it easier for the institution to sell, and for customers to buy, a number of services at once.

The report below for the sample credit union indicates that Checking (CHK) and Installment Loans (ILN) are the most common cross-sells to a new member -- the top 4 service combinations accounting for 72% of the household base are some combination of these two products plus Share -- but MSRs have mostly been trying to cross-sell Checking and Credit Cards (CCD) to new members instead.

The report also shows that a package for members driven by transaction (Checking) and lending (Installment Loan, Credit Card) needs will fare the best. Notice that the top 8 combinations of services, accounting for 86% of the household base, are combinations based on the Checking-Loan-Card services.

Customer Insight MCIF Combination Of Services Report