Want to Cross-Sell? Then put a bit of planning into your planning services
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Want to Cross-Sell? Then put a bit of planning into your planning services

February 24, 2016

by Tony Vidler  CFP logo   CLU logo  ChFC logo

We all know that cross-selling services and products to clients is critical to maximising the value of the client relationship as well as ensuring you are delivering full value to your clients.

 

So why is it so often neglected?

 

In part because cross-selling is skipped because so many professional advisers today do not want to be seen as “selling” things to clients, however there is also often a lack of “planning” being put into the planning services we deliver.

 

Let’s all agree to begin with that we are not wanting to sell stuff to clients because there is money in it for us. But let us also agree that it is in our clients best interests that we deliver full advice in every facet where we can add genuine value to the clients, and help accelerate their goal achievement.  So while our aspiration is clear, as is the theory that comprehensive professional advice being delivered is a wonderful thing, the reality is that it is virtually a universal law that clients do not follow comprehensive advice and detailed planning all the time.

 

The reality which advisers deal with is that not everything that can or should be done to help clients is done at the outset of an engagement due to limitations imposed by the client, or the client’s circumstances.

 

In order to make sure we do deliver full value and also work towards a comprehensive advice or planning solution we need a simple way of planning how we are going to continue to grow the relationship and plan.  The best way of doing that is to borrow a concept from “sales” known as the cross-selling matrix.  While the origin of the idea was to help figure out what products could be flogged to the public, the principle and structure is simple and sound for helping us figure out what services and advice areas are yet to be worked in for any given client.

 

In this weeks Quick Tips video we talk about the basic approach to figuring out what advice areas you can deliver, but have not yet delivered, to which clients in an easily digestible form that anyone in your organisation can follow at a glance…

 

…watch the video to learn more… 

Related to this post:
You really do have to sell more stuff…Really!

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