Cross-Selling: The Why and How

You want fries with that?

According to Marketing Metrics (featured in Forbes), it's about 50% easier to sell to existing customers than to brand new prospects.

Why Cross-Sell: It's Your Job

When it comes to existing clients, you’ve already earned their trust - now, as part of your normal duties as an advisor you need to make sure your clients are fully protected. “A cross-selling strategy is designed to position your clients under the umbrella of protecting assets throughout the lifecycle” (Denise M. Desautels). 

Bottom line: it's easier to sell to current clients and they are expecting you to look out for them by making sure they're completely covered.

How to Cross-Sell: Use the Available Data

There are multiple ways to go about setting up a cross-sell strategy but a good starting point, no matter what your strategy, is to take advantage of the available data:

  1. Find the average number of policies per client in your book-of-business. This will give you an idea of how many cross-sell opportunities you'll potentially have and will be a good number to use to measure the success of your cross-sell efforts. This should be an easy number to find in your database - learn more here.
  2. Look for specific cross-sell opportunities that you can capitalize on where your clients might not be completely covered, are not covered as well as they should be, or where a possible upsell presents itself. AgencyBloc offers a Cross-Sell Report that quickly uncovers cross-sell opportunities throughout your database.

Cross-selling shouldn't be a one-time campaign at your agency - it should be an on-going and long-term initiative that is a part of your culture. Everyone from agents to support staff need to always be thinking about cross-sell opportunities when speaking with clients. As with any client communications, all cross-selling communications should be tracked in your CRM so that everyone who talks with a client knows what's going on.

Bottom line: you have the data available to properly cross-sell to your clients, it's simply a matter of making sure the initiative is active in your agency and you are tracking your efforts.

  1. TAGS
  2. selling
Mike Ivory

By Mike Ivory on October 6, 2014 in Selling

Mike is the Marketing & Sales Operations Specialist at AgencyBloc. He manages all technology for sales & marketing operations and analyzes results to maximize our success. Favorite quote: "You miss 100% of the shots you don't take - Wayne Gretzky" - Michael Scott More articles


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