Thursday, April 25, 2013

Tune Up Sign 6: Low Client Expansion

Successful client expansion initiatives (proactive efforts to increase the number of practice areas a client uses) have occurred in less than 10% of the firm’s clients.

What does this indicate?

If true, this indicates a lack of a formal cross marketing program and training. It may also indicate low trust levels among attorneys, a high incidence of one-off matters, a poor understanding of the practice synergies between practice groups and/or poor communication between practice groups.

Cross marketing and entrenching client relationships is the low hanging fruit for firm growth. Often there are inherent obstacles to successful cross selling built into the cultures of many firms which must be removed before the culture fully adopts the transparency and teamwork required in cross marketing among attorneys and practice areas. If your firm struggles with effective cross marketing, it is worth examining these obstacles and training the attorneys in effective cross marketing initiatives.

This is the sixth in a ten part series explaining signs that indicate that your firm or personal marketing program could use a tune up.

Tomorrow: What does not knowing your next rainmakers indicate?
As always, if I can help you fix the ‘kinks’ in your business development, give Eric a call at 502-693-4731. You’ll find that I am an eager resource and that it costs nothing to talk.

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