The Power of Balance: Distributing High-Value Customers Across Your Team

Imagine two of your relationship managers (RMs): Jane and Kevin. Jane is a proactive, diligent worker, but her assigned customers are relatively low-value, yielding few cross-selling opportunities. Meanwhile, Kevin is struggling to keep up with the numerous high-value customers under his watch, missing opportunities due to the sheer volume of accounts. Your bank's potential revenue lies untapped due to this imbalance. Is there a solution?

Absolutely. It starts with a broader perspective on how we manage customer accounts.

Consider the accounts that become 'orphaned' when their assigned RM changes roles or leaves your team. If your bank operates like most, you redistribute key accounts based on traditional customer metrics — active borrowing, high deposit balances, usage of multiple products, etc. But often, many accounts remain orphaned. These accounts are unattended, presenting untapped potential for engagement and cross-selling.

A prevailing myth is that these orphaned or unassigned accounts are low-value, hence their lack of assignment. However, they often hold significant value to other financial institutions. This potential goes unnoticed due to their 'orphan' status, obscuring their true worth.

But how do you uncover this hidden potential, assign orphaned accounts to the right RMs, and better balance customer distribution across your team?

Enter Neocova's Dynamic X-Ray feature. With a simple, drag-and-drop query, you can view all cross-selling account opportunities, grouped by the assigned RM on each account. This visibility enables you to redistribute accounts strategically, aligning high-value customers with the appropriate RM. It's a treasure trove for RMs seeking new customers and cross-selling opportunities.

Imagine now if Jane had an equal number of high-value accounts as Kevin. The increased engagement and personalized attention from Jane would likely lead to higher customer satisfaction and additional revenue for your bank.

It's time to balance the distribution of your customers across your RMs. Let Neocova guide you in identifying neglected and high-value customers, providing your RMs with the resources they need to tap into untapped potential. Ready to transform customer account management in your bank? Neocova is ready to help.