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SMART IDEA #42: Winning clients in a down market (2 of 7)

Weekly inspiration for the staffing industry

ISSUE #42  |  August 3, 2024

New this Week:

• Winning clients in a down market (2 of 7)

• Spread the wealth

• Have you registered for the SMART IDEAS Summit 4?

SMART IDEA #42: Winning clients in a down market (2 of 7)

David Searns | Co-CEO


Ready to unlock a goldmine of revenue?


It's sitting right in front of you...it’s your clients!


Hold on, I know what you're thinking. "But David, we've already maxed out opportunities with our clients!"


Are you sure about that?


Let's dive into two powerful strategies that can dramatically boost your staffing sales: upselling and cross-selling.


These aren't just fancy sales terms. They're game-changers that can transform your revenue stream.


UPSELLING: Win your fair share…AND MORE!


What's upselling all about?


Simple. It's convincing your current clients to use MORE of your staffing services.


Think about it. How many of your clients are using multiple staffing vendors?


Probably most of them, right?


That means there's room to grow. Room to capture a larger share of their staffing spend.


But here's the challenge...


Upselling isn't just about being pushy. It's about demonstrating additional value.


You need to show clients why consolidating more of their staffing needs with you is a smart move.


How? Glad you asked!


  • Highlight efficiency gains (one point of contact, streamlined processes)
  • Offer volume discounts (the more they use, the more they save)
  • Showcase your deep understanding of their business (you're not just a vendor, you're a partner)
  • Accelerate delivery (in this market—and any market—speed wins)
  • Solve new problems (don’t just provide staffing, provide business solutions)
  • Move up the value chain (consider on-sites, MSP services, a mobile platform, or solution selling)


Remember, upselling requires a delicate balance.


Push too hard, and you risk damaging the relationship.


But done right? It deepens your partnership and boosts your bottom line.


CROSS-SELLING: Expanding Your Footprint


Now, let's talk about cross-selling.


This is all about introducing your clients to NEW services you offer and additional skill disciplines you can fill.


Maybe you're providing them with administrative staff, but they don't know about your IT staffing expertise.


Or perhaps they're using your temp services, but haven't considered you for direct hire.


Cross-selling opens up whole new revenue streams.


But cross-selling comes with its own set of hurdles...


  • Clients may be set in their ways (change is hard!)
  • They likely have staffing partners for these other services (you need to win them over!)
  • They might not see the connection (they only see you as a provider of the services you initially sold them)
  • You could face internal resistance ("That's not my department!")


So, how do you overcome these obstacles?


  1. Educate. Make sure your clients (and your team) understand your full range of services.
  2. Start small. Offer a trial or pilot program to showcase your capabilities in a new area.
  3. Demonstrate your value. Use case studies and testimonials to show how other clients have benefited from your diverse services.
  4. Make it easy. Provide seamless integration between services to reduce friction.


THE SECRET SAUCE: What You Need to Succeed


Whether you're upselling or cross-selling, there are a few critical ingredients for success:


1. Deep client knowledge


You can't effectively upsell or cross-sell if you don't truly understand your client's business, challenges, and goals. You also need to understand the value of your services…to the specific staffing buyers you are targeting.


2. Strong internal communication


Your entire team needs to be aligned. Sales should know what your recruiting team can deliver, and your recruiters should know what sales is trying to sell.


3. Value-based selling


Focus on the outcomes and benefits for the client, not just your services. Right now, “no one needs a temp,” but they absolutely need better ways to control costs, increase productivity, manage volatility, and mitigate risk.


4. Timing is everything


Look for trigger events or pain points that make your additional services particularly relevant, such as a new product launch, merger, divestiture, industry-specific business challenge, etc.


Get closer to clients—at more levels in their organization—so you know what’s going on in their organization, where they need help, and how you can provide it.


5. Play the long game


I’ve said it before, and I’ll say it again, selling in a market as competitive as staffing—even to existing clients—requires patience and persistence.


Most companies won’t need additional services when you call. But, they will at some point! Don't give up after the first "no"…or the second…or the third.


Here's the bottom line...


Upselling and cross-selling aren't just sales tactics. They're relationship-builders.


When done right, they demonstrate that you're actively thinking about how to bring more value to your clients.


And in the staffing industry, that kind of proactive partnership is worth its weight in gold.


Need help mining that gold from your client base?


If you want to chat more about implementing upselling and cross-selling strategies in your staffing firm—or any other growth strategies—give us a shout. We've got plenty more ideas to share!


Next week, don’t miss part 3 in this series which will show you new ways to reconnect with old clients.

SPREAD THE SMARTS!

Find our SMART IDEAS valuable? Why not spread the wealth? Your team can also tap into this goldmine of ideas at haleymarketing.com/smartideasweekly.

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SMART IDEAS Summit 4?

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7 hours. 14 speakers. Priceless ideas.
100% staffing and recruiting focused.


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1.888.696.2900

Haley Marketing | PO Box 410 | Williamsville, NY 14231-0410 | 716-631-8981

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