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<b>Practice Building Skills:</b> Cross Selling: Finding Hidden Opportunities to Grow Your Practice
When working with law firms, the first question that we always get asked is: 'How do we increase our business?' In our experience in working with firms, we have found that they are willing to pay thousands and thousands of dollars in marketing, spend countless hours trying to identify new opportunities, and are always looking for an edge or new strategy to develop more business. We have found that most firms overlook the fact that the most cost-effective and easiest way to develop more business is to utilize the assets they already possess ' by cross-marketing and cross-selling within their own firm.
We find that the term 'cross-selling' is mentioned often, but very few people know what cross-selling means and how to implement it. In our definition, cross-selling means that you are selling additional services to current clients. For example, if an attorney is working with a large company who has IP issues, and then later the company complains about employment issues, the IP attorney will then introduce one of the employment attorneys from his or her firm to the client. When the IP attorney has successfully introduced the employment attorney to the company, cross-selling has occurred.
Cross-selling is a natural way for law firms to increase business, but our experience tells us that there are several impediments to cross-selling within firms. The first issue that we notice is that attorneys tend to be very focused on their own expertise. They are extremely busy, and they believe that they do not have time to talk with attorneys outside of their practice group. We find that in many firms, attorneys don't know what the other practices areas do, and they are not sure what would constitute a good referral introduction for other practice areas in the firm.
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