June 12, 2024

Cross-Selling to Clients You Already Serve

Most firms know they should offer more to current clients and few do it on purpose. The gap is usually process, not willingness.

Start from what you know

You already hold the best context: what the client asked for, what they struggled with and who they work with. Yet that knowledge sits in individual heads, so the second service is offered only when the right partner happens to remember. The relationship is already built and the trust is already there, which is why the cost of raising a second service is lower than the cost of a first meeting.

A shared account view, even a simple one, changes that. List each client, the services you deliver and the services you do not. The blanks are your starting map. Include the client's own goals from the engagement letter, since these carry more weight than a general pitch.

Look for a reason, not a quota

Cross-selling fails when it feels like a target. It works when tied to something real: a client change, a finding from current work, a regulatory deadline. Ask, for each blank on the map, whether a genuine reason exists. Partners often overestimate how much of the firm the client already knows, so a short reminder of what else you do is rarely unwelcome.

If there is none, leave it. A well-timed conversation about one service does more than a broad campaign about five. Rank the blanks by how well they fit the client, and start with the top two.

Let the delivery team spot needs

The people doing the work see problems before the partners do. Give them an easy way to flag a client need, a two-line note routed to the relationship partner, without asking them to sell. A rough planning assumption is that a client who has never heard about a service will not ask for it, so someone has to mention it.

Recognize the flags. Teams that see their observations turn into engagements keep sending them, and the flow improves. Keep the list current, since a service you stopped offering should not appear on it.

Handle independence and conflicts first

Some combinations of services are restricted, particularly where an attest relationship exists. Before raising any new service with a client, check with your risk or compliance group whether it is permitted. Treat independence as a normal step and not as an obstacle, and it will cause far fewer delays.

Build that check into the routine so it happens before the conversation, not after a client has already shown interest. Share the map with the delivery team, so they know what is being considered.

Approach through the relationship partner

Clients should not receive offers from three different people in one quarter. Agree that the relationship partner coordinates every approach, and that BD support prepares material for them. Keep the number of people talking to each client small, and make sure each knows what the others have said.

A short, specific proposal or one-page outline usually works better than a general brochure. Reference the client's own situation in the first paragraph. Do not approach a client in the middle of a difficult delivery issue, and check first.

Track it like any other pipeline

Cross-sell opportunities belong in the same pipeline as new business, with the same stages and the same review. Otherwise they disappear from view and no one knows the real number. A short monthly review of the cross-sell list is usually enough to keep it alive.

Compare the time to close and the fee level against new-client work. Do not assume the results will be better; measure them for your own firm. Ask for referrals inside the client's organization only after the current work is going well.

Make the conversation easy to start

Many partners hesitate because they do not want to seem pushy. Give them a simple opening: a question about the client's plans for the coming year, or an observation from current work, followed by an offer to share a short outline.

Let the client set the pace. If they show interest, follow with a specific proposal. If not, note it, and revisit at the next natural moment, such as a year-end or a change in their team.

VIPMarketing Editorial