Make Cross-Selling a Daily Habit With These Tips & Tools for Accounting Firms & Professionals

Accountants are trusted for their precision, consistency, and compliance with rules and regulations. Sometimes, these traits can get in the way of exploring and embracing new business development strategies, like cross-selling services to clients with support from AI-powered platforms.

There's a reason for this behavior. Deviating from traditional norms and predictable processes can sometimes feel like opening Pandora's box. Accounting professionals don’t have the luxury of taking risks and making pricey mistakes, so they stick to time-honored processes and antiquated tools they know and trust. 

But what happens when industry-wide shifts and emerging technologies take root and leave them behind? They become less efficient, less competitive, and less appealing to their clients.

There’s good news: Most people are capable of adopting new habits, learning new skills, and embracing change. The first step is to start practicing the same behavior or activity and turning it into an everyday task like brushing your teeth. 

Before we explore how to make cross-selling a daily habit at your professional services firm, let’s take a closer look at why accountants resist change in the first place.

Why Accounting Professionals Resist Change

Here are some of the most common reasons accountants struggle with embracing change:

Comfort with Familiar Processes

Over time, accountants develop profound expertise in specific tasks that translate into proven and reliable processes. Tried-and-true technologies and workflows provide a strong sense of control and confidence. That’s why they might perceive the slightest change as an unwelcome threat to their stability. 

Imagine an accountant who has used the same software for years to manage client records and prepare financial statements. The accountant is familiar with this software and it functions smoothly within their day-to-day workflow. 

Now, the accounting firm wants to introduce a new cloud-based platform that integrates financial planning and advisory services into the accountant's toolkit. This shift not only requires them to learn a new system, but also to think beyond their core tasks. How will they find the extra time to learn this new system and successfully deliver on new responsibilities? 

Fear of Disruption

In the accounting profession, minor mistakes can have grave consequences, pushing accounting professionals to maintain accuracy and stability at all costs. Introducing changes such as new cross-selling goals involves tasks outside their usual responsibilities, potentially distracting them from their core tasks.

Moreover, cross-selling requires a more proactive business development mindset that accounting professionals may not be accustomed to, making them feel uncomfortable at first. Incorporating new habits and practices can seem intimidating, overwhelming, and sometimes even unnecessary.

Lack of Awareness

While offering multiple services benefits a professional services firm and its clients, not all accountants are aware of this concept. An accountant working on a client's tax returns may not realize their client could benefit greatly from risk advisory and business valuation services, for example.

Yet, without understanding the client's broader needs or the potential value of additional services, cross-selling may feel like a waste of time. Accountants might also lack the tools and technologies to support the firm’s cross-selling efforts.

The Key to Change: Making Cross-Selling a Daily Practice

Here's a crash course for accounting professionals and firms that want to make cross-selling a daily practice:

Create a Habit Loop

According to James Clear, the writer behind Atomic Habits, it takes 66 days before a new behavior becomes automatic. Depending on the person's commitment, it can take anywhere between 18 and 245 days to form a new habit.

Creating a habit loop can increase an accounting professional’s success rate. A habit loop starts with a consistent pattern of behavior where a cue triggers a routine. Upon completion of the routine, the process ends with a reward. 

In the accounting profession, cues from regular tasks, such as reviewing a client's financials, can activate the routine of offering extra services. Rewards for successfully cross-selling services may include words of affirmation, a promotion, or a bonus.

These small, daily efforts compound in due time, and soon enough, cross-selling becomes a seamless part of an accountant’s workday.

Tips for Establishing Cross-Selling Routines for Accounting Professionals:

• Daily Opportunities: Accountants should identify moments within their current workflows for offering more than the basics to their clients. For instance, they may uncover inefficiencies or opportunities for financial planning while preparing tax returns.
• Simple, Regular Actions: Turning cross-selling into a habit can start as simply as asking a question during every client interaction: “Are there other areas where you need support?” or “What other challenges is your business facing?” After identifying additional services, accountants can schedule regular check-ins with clients to review their other business needs and set reminders to suggest other services based on their clients’ ongoing challenges.

Mindset Shift 

Whenever a new task is perceived as a hassle or risk, people are less inclined to embrace it. That’s why accountants should reframe cross-selling as an extension of client service instead of a pushy sales tactic. Focusing on solving client issues instead of promoting services makes a world of difference for professionals and clients alike.

Strategies Professional Services Firms Can Implement to Encourage Cross-Selling

McKinsey found that cross-selling can boost sales by 20% and profits by 30%. Here's how to encourage cross-selling across your professional services firm:

1. Leadership and Culture

Firms are responsible for establishing the value and importance of cross-selling in meetings and performance reviews, as well as recognizing professionals who successfully implement it. Leaders can also consider creating a workplace culture that encourages accountants to collaborate across departments.

2. Training and Education

Acquiring new knowledge can empower accountants to see things from a different angle and feel more confident when embracing change. Firms can organize workshops that demonstrate the benefits of cross-selling and how it improves client relationships. Mock interviews and exercises can help accountants practice conversations and feel more comfortable before suggesting additional services to their clients.

3. Technology

To make cross-selling a regular practice, accountants need the right technology. Tools like AI-powered cross-selling platforms can identify clients with unmet needs based on their previous services, while software with built-in analytics can highlight patterns and gaps.

4. Incentives

Recognition and rewards typically go a long way in boosting employee motivation and engagement. Firms can offer performance-based bonuses or commissions for successful cross-selling efforts to inspire accountants to seek out and pursue opportunities. They can also reward top performers publicly through employee-of-the-month programs or firm-wide announcements.

5. Feedback Loops

Managers should provide immediate feedback after each cross-selling attempt to clarify what accountants did well and whether some areas require more work. These feedback loops help professionals see the direct impact of their efforts so they can fine-tune their approach next time.

Leveraging Technology to Streamline the Cross-Selling Process

Technology has become an integral part of the workday for most professionals, including accountants. Propense.ai, a platform built specifically for accountants and accounting firms, streamlines the cross-selling experience with automated workflows, helpful reminders, data-driven insights, and a user-friendly interface. 

How AI Platforms like Propense.ai Promote Cross-Selling Behaviors Among Accounting Professionals:

• Automation and Reminders: Propense.ai analyzes a firm's data to identify highly probable cross-selling opportunities, providing accountants with timely recommendations for services they should consider offering their clients. These features save valuable time and prevent opportunities from slipping through the cracks, enabling professionals to focus on building meaningful client relationships.
• Data-Driven Insights: Propense.ai provides tailored cross-selling suggestions based on each client's unique needs. The platform probes into historical and firm-specific data to help accountants make more informed, timely and impactful cross-selling recommendations.
• User-Friendly Interface: Simple and intuitive, Propense.ai's interface is easy to navigate — even for tech-resistant accountants. Professionals can seamlessly integrate the platform into existing workflows to make cross-selling a regular part of their daily operations.

Next Steps: Incorporating Cross-Selling into Your Accounting Firm’s Daily Workflow

Any activity can become a habit if you practice it daily and understand its value and purpose. The same applies to cross-selling and turning it into a routine by seeing it as an opportunity rather than a burden. Accountants should embrace the practice not only to enhance the value they offer clients, but to establish themselves as strategic advisors as well. Discover how Propense.ai can help you turn cross-selling into a daily habit across your firm.