5 ways to make extra cash from existing clients
Spending an additional five minutes explaining why your client would do well to expand the services they receive could make a huge difference. Don’t wait for clients to ask you about services like advisory, or even the cloud, get out there and start telling them.
1. Sell what your clients actually need. You’re selling yourself, really. You don’t need to be promoting the software you use – those businesses have their own marketing and sales team. To your clients, you represent confidence and assurance. Ask your clients where they want to be by this time next year, and work out how you can strategise to get them there. Being an advisor places you as the gateway between a business owner and their data – your job is to help them understand it all and suggest ways to improve further.
2. Upsell and cross-sell. The more efficient ways of earning more revenue without having to spend too much time on doing so. The people that this will work on are already sold on you and your firm, so just suggest you show or explain one or two more services when you see a given client. Suggesting other services, or dropping them into the conversation, can make a client start thinking about how they would like to get more out of you. If your advisors are well versed in your services, this won’t be a challenge at all. Rather, it’s going to come quite naturally.
3. Obtain customer referrals. We tend to trust what we’re told by those closest to us. Give each client three of your business cards and say something along the lines of, ‘if there’s anyone that could benefit from our firm like you have, please feel free to share my card.’ This fairly organic way of spreading your name won’t position you as keen advertisers desperate for clients, but rather a more trustworthy firm that doesn’t need but wants to help clients.
4. Leverage what you know about your clients. Once a client has had some work done for them, you know what they were looking for. This will arm you with the information you need to then predict what they will want and need in future. If a client has bought a service from you in the past, it’s likely they’ll need it again.
5. Repeat selling. Repeat sales are definitely easier for some industries. As the owner of your firm, you’re in luck – your clients aren’t able to provide their own in-depth forecasts with ease. It’s you they need as your knowledge is what they’re paying for. When you provide a service, it’s a good idea to have your team book the client in question in for the next period there and then – it’ll fill diaries and see the cash roll in.