Overcoming Resistance to Cross-Selling
Source: Capstone Connection
The following includes excerpts, reproduced with permission, from an article by Jean Caragher.
Cross-selling, offering the services your firm currently provides to current clients not receiving those services, is the easiest, least risky way to grow your practice. Yet, many CPAs resist cross-selling due to feelings of unprofessionalism, being protective of their client relationships, and lack of trust of those providing the additional services. In today's economy let's add client fee pressures to the list. How can you overcome this resistance and successfully execute a cross-selling initiative?
The motivation for successful cross-selling is creating value for the client, not dollars for your bottom line. To successfully execute a cross-selling initiative:
- Understand the needs and challenges your clients face.
- Demonstrate how your firm can help clients meet their needs and overcome their challenges.
- Know the expertise of other firm or team members.
- Use case studies and testimonials to describe how these professionals have provided value to other clients.
- Train your staff to cross-sell.
- Meet as engagement teams to identify cross-selling opportunities before and after an engagement.
- Create a cross-selling matrix, including your clients listed in the left column and the services you currently provide across the top.
- Measure your cross-selling activities.
- Share success stories and efforts throughout your firm.
For the complete article, read “Cross Selling: Dirty Words?”
From Capstone Connection, Marketing Ideas and Strategies for CPA Firms, Capstone Marketing, www.capstonemarketing.com, November 10, 2010.