earning the right to cross sell webinar slides
TRANSCRIPT
Earning the rightto X-Sell
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Welcome!
Earning the right
to X-SellLead Generation, Qualification, and Action Plans that will increase yourmarket share
Presented by
Martin Gold & Kim Stuart
July 27, 2017
Business development solutions that drive meaningful results
FacultyMartin Gold
Kim Stuart
Why X-Sell?• Revenue
The average law firm loses 15% of its top clients every year; best performers lose only 8%
• Retention
Increasing retention rates by 5% increases profits by 25% or more
• Role
Source: Harvard Business School and BTI Consulting
“The average client has 4 major
practice needs and
5 minor, but measurable needs.”
- BTI Consulting
It’s NOT easy.
I can’t sell tax services.
How? LearningBeing AwareBuilding TrustQualifyingActing
Learn by researching your client base
§ What’s your firm’s market share of their legal spend?
§ What’s their strategic plan?• Public Filings, Monitor
Suite, Google, Open Secrets*!
§ What’s their stock price, how and why is it trending?
§ GAP: What services are they outsourcing elsewhere? * www.OpenSecrets.org
Be Aware§ Listen 70% of the time§ Ask trigger questions *• What are their needs? • What are they looking
for that they are not getting from their other firms?
§ Don’t fear feedback
* 20QuestionsYouShouldAskClients sourceTheWJFInstitute
Be Relevant
Build Trust with Clients & Colleagues
ID/Qualify = X-Sale!
[?]What’s their pain?Do they need us?Relevance?What can we do for them?Is it a “fit”? For the Firm?For You?Can they afford us?Are they “married” or ISO?Do you really know them?Does your relationship trust you? What’s our Value Proposition?Is your contact a DECIDER or a GUIDE?
Qualifying
IdentifyingQualifying
Connecting
Building Trust
Pitching & Closing
Getting to “Yes!”Follow-up!
Act
§ Review and update or create a X-Selling Process
§ Regularly update bios & practice descriptions
§ Create X-Selling skillsdatabase
§ Incentivize sharing & reciprocity
One Client, One Lawyer, One Win!
5 Easy To Dos for You To Do
§ Learn - find Top 10 Clients on www.opensecrets.org
§ Ask your client at least one of the 20 Questions - 20 Questions You Should Ask Clients
§ Review your bio - does it X-Sell you?
§ Qualify a client – can we help them & can they afford us?
§ Conduct a X-Selling Audit
X-Selling Audit
1. Confidentiality Agreement
2. Opportunity Assessment
3. SWOT and GAP analysis on top 10 clients
4. Run clients through X-Selling Profile to identify key cross-selling actions
5. 30-day Progress Management Follow-Up
Kim StuartKimTo learn more, contact Olivia Watson @ [email protected]@AckertInc.com
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