One of the most exciting plays in football is the “strip away.” A quarterback throws a perfect pass into the arms of his wide receiver, just to have the ball taken away – stripped away – by the free safety. The team that wins is usually the one that takes the ball away.
Stripping clients away from competitors is a game that only the best and most aggressive sellers can play.
The strip away is not for the faint of heart. But, so long as you play within the rules, there are no ethical constraints.
Other Firms’ Clients Aren’t that Loyal
A Novak Marketing study showed that only 25% of CPA firm clients are intensely loyal to their firm.
The other 75% were ambivalent or actively looking for another service provider. I think the same loyalty factor is also true of law firms. If you are interested in playing the “strip away” once in a while, here are some tips:
1. Don’t accept the “I’m happy with ABC Firm” answer. The status quo is never as permanent as it might seem.
If you are a better fit, keep asking questions and discussing your firm’s capabilities.
2. Assume the prospect will switch if you can help him find a good reason. Without this mindset, other tactics are not helpful.
3. Find a small low-cost, low-risk service that is not being provided by the present firm.
For instance, you might review a person’s will or her tax return with a fresh set of eyes or for a second opinion.
4. Be alert for communicating new benefits. If your firm develops a special expertise, or makes any change for the better, communicate “in person.”
Every time you promote a person to partner, find time to visit all your best prospects and introduce her. Find reasons to stay in touch.
5. Look for changes. If the controller leaves, if your competitor retires, you may have an opening to build a relationship on an equal footing with your competitor. Can any of your services help a client with changes they are experiencing?
6. Keep track of company policy. Some clients have a policy of formal rotation or of reviewing all supplier arrangements periodically. Know when that opportunity is to come up; ask for a chance then.
Summing up
As with any relationship, the trick is to anticipate needs. Make sure that every prospect knows what you can do for them.
Even, if they are truly being well served, when a problem arises, the prospect should know you could help solve it.
Lastly, keep trying. If a prospect is a good one, you should find ways to stay in touch. Invite the prospect to your office.
Ask a friend to put in a good word for you. See if you have relationships with their other professionals. Place them on your newsletter list. Use your marketing system to keep your message in front of this prospect.
Author Harvey Mackay said that few firms use the strategy of being the number two choice of clients that their competitors have locked up. If you are next in line, good clients will regularly fall into your lap.
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