Following the model adopted by global conglomerate like GE, Anil Dhirubhai Ambani Group is using the database of its customers, shareholders and employees of ADAG companies to cross sell its financial products through Reliance Capital Services.
RCS would be a 100% subsidiary of Reliance Capital and would sell insurance and consumer finance products to 17.5 crore customers which includes 5 crore RCom subscribers, 3 crore Reliance Energy customers and 70 lakh customers under entertainment banner ‘Big’.
With this, ADAG would become the first business group in India to leverage the strength of its existing stakeholders to expand business.
The move may help Rel Capital to reduce its costs as distribution and customer acquisition costs are quite high in financial service industry, plus it would immediately get access to potential customers with minimal marketing efforts.
Find this article at: http://www.labnol.org/india/corporate/reliance-capital-to-use-cross-selling-for-increasing-finserv-biz/3646/
web: http://www.labnol.org/ email: amit@labnol.org
Reader Comments
I always belive Anil Ambani’s Company will one day give Investors handsome returns. Though markets have fallen to 2008 lows. Investors can buy ADAG’s compnies for handsome return in future.