Business Development Simplified: How to Leverage Cross-Selling for Revenue Growth
Cross-selling is one of the most effective tactics available to firms today. Those who integrate it into their business practices are much more profitable than traditional firms and produce higher client lifetime-value than siloed firms. Unfortunately, many firms regard cross-selling as an afterthought; an exercise they only get to IF they can find the time.
Firms farther along in their business development mindset expect, support, and reward cross-selling across service lines
They prioritize the following three fundamentals that enable cross-selling among partners.
- Conduct a gap analysis to identify cross-selling opportunities among clients.
- Create social and collaborative forums between department leaders so they can build personal and professional trust.
- Financially incentivize cross-selling between partners, and disincentivize non-collaborative behavior.
Of course, cross-selling is much easier said than done. If your firm is ready to take cross-selling to the next level, PipelinePlus can help.
Schedule your complimentary BD Strategy Assessment today to discover the steps you can take to improve the cross-selling culture at your firm.