AAM Minute Monthly Poll

The majority of firms have a variety of services they offer, but they may get comfortable and routine in promoting their top key service offerings. To fully provide quality to clients, it is vital to communicate all of the firm’s services and have a structured strategy. From our poll in June, 36% of firms have an official cross-selling strategy, while 27% do not have one, and 36% do not have a consistent plan. The next step is developing the target audience to cross-sell to. Do you use your existing clients, or do you develop a new list of potential leads? According to the poll, 45% stated they use their current list for cross-selling opportunities, 23% said they do not, while 32% said again that they do not have a consistent plan. Once you have your cross-selling strategy developed and your target audience selected, the final step is deciding what outlet of communication you want to utilize to promote the services. A shocking 85% of respondents said their strategy consists of the traditional face-to-face approach of meeting directly with their clients and communicating other service offerings.