In the Fall of 2009, RFG asked consumers that recollected that they received a cross sales attempt when they opened their most recent new checking account to indicate the type of product or service that was described or suggested to them. 

Three quarters (77%) of all respondents report that a debit/check card was the product or service that was described or suggested to them.  In contrast, only 11% of this group reported that they received an insurance service recommendation at the new accounts desk.

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About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

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