To cross-sell effectively, you’ll need to define the “competitive advantage” that shows the client why buying from you will benefit them. Take these four steps to cross-sell your clients by showing them that you can meet their needs more effectively than their incumbent agent.

We all know the value that cross-selling brings to agencies. According to industry statistics, profit margins on the second sale are two to three times higher than the first and retention is 60% higher. Yet the average independent agency’s number of policies per customer hasn’t changed in 20 years. How can such a vital, well-publicized goal remain so elusive for so long? It’s as if we all know how to become millionaires but ignore the facts. The truth is that cross-selling is a complex process that can fail for a number of reasons.