Three Strategies for Double Digit Growth Strategy #1 – Identify your “A” clients and super – please them Strategy #2 – Identify your “B” clients and turn them into “A” clients Strategy #3 – Look into the marketplace and find prospects like your “A” and “B” clients. 5
Two Attitudes Old Paradigm I just bill by the hour. New Paradigm I’m here to help you succeed. Waits for the client to callProactively connects with clients Demonstrates capabilitiesAsks questions Solves problems I seeUncovers solutions
Principles of Cross Selling 1.Cross selling is the most cost effective and proven method… 2.Cross selling can only be accomplished if there is strong teamwork. 3.Cross selling can only be accomplished if there is an understanding of the firm’s menu of services. 4.Cross selling can only be achieved if there is a strong relationship built on trust and mutual goals and objectives. 18
The Law of the Ladder At the Top of the Ladder Price Resistance Decreases There is Little or No Competition At the Bottom of the Ladder Price Resistance is intense Competition is fierce
Cross Selling Process Internal 1.Know your firm’s menu of services 2.Tell others what you do 3.Know what others do 4.Have a client success story 5.Know buzz words and have questions to ask 20 External 1.What services is the client using now? 2.What services could they use? 3.Cycle Selling 1.Clients 2.Referral Sources 3.Centers of Influence
Know your firm’s menu of services Partner / Manager Services
SPEED Model ObjectiveFocus S ituation Current Status (Have) P roblem Uncover problems and needs E xploration Receptivity to new service idea E xpansion Advancing Commitment D ecision Gaining Commitment
Situation Who provided this service? Benefits to the client? Services they could be using?
Problem Problems in the marketplace Anticipate problems the client may face No Problem…No Sale! What other problems?
Exploration Right Solution Receptive Pay more for wants
Expansion # 1 Problem? How serious? Super size the pain! LISTEN and respond to their concern
Decision Advance Commitment Pricing Discussion Terms and Conditions
Centers of Influence List ideas on how to expose your Centers of Influence to your services List 5 Centers of Influence that you will tell about your high value services
Develop Solution, Application and Benefit Statements Solution: What is it? (service) Application: How does it solve the problem? Benefit: What does it do for the Client? Communicates why a client should use this service