Untapped Revenue Streams
Most firms view growth as winning new clients but overlook the additional needs of existing clients. CPAs have all the financial information needed to identify areas of client pain and opportunities to add significant value.
Creating a formal client mining panel adds value to existing clients and generates additional revenue. Referral partners also have clients with needs. Most referral partners think of your firm as a tax or audit specialist. We need to change that stereotype.
Consistent Client Outreach
Structure a consistent and specific outreach to clients and referral partners to create a continuous stream of revenue for your firm. It keeps you in front of clients and makes you look fresh and innovative. Engaging staff in client mining is a great method to increase their selling skills.
- Clients over 60 years of age. They should be looking at creating an exit strategy.
- Family in the business. A succession can take longer and may involve gifting.
- Debt & cash flow issues. These can be immediate areas to provide highly value added services.
- Rapid growth or significant declines. Change indicates a need for support or re-design.
- Flat performance. Implies a lack of energy and a need for new ideas.
Begin A Conversation
Most firms struggle with effective client cross-selling. Ask us how to do it. Contact our team today.