Blog
10 benefits of having a Key Client Program
In a recent post, we discussed implementing a Key Client Program (KCP). In this post we want to expand upon that and discuss what the benefits are of having a KCP – and trust us, there are plenty more than the 10 listed in this article.
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Why your firm needs a Key Client Program
When I first started working with professional services firms over 25 years ago, a partner pulled me aside and told me that all of his clients were equal. It didn’t take me long to realise this was a very bad client strategy to have. Not only are clients not equal, but not all clients are good clients that you want to keep .
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6 steps to handling client complaints
Heaven forbid it should actually happen to you, but do you know what you would or should do if a client makes a complaint about you or your firm?
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Knowing when to fire a client and understanding how to do it
In this blog, we explore when it might be a good time to fire a client and talk through some proactive steps you can take to ensure the process is as smooth as possible.
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The power of client charters in building client trust
Trust, and for that matter accountability, is the cornerstone of any professional relationship. Without their trust in your ability to deliver on what you say you can deliver, your clients will, eventually, walk away. One of the most effective tools you can use to establish and maintain a level of trust between you and your client is a client charter.
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Using retainer fee agreements to create client loyalty
Competition for work has never been greater. Every year I feel like the demand side shrinks, the supply side expands, and the cries of ‘more for less’ grow louder. One of the more innovative ways for professionals to create and cultivate client stickiness is to commit to a retainer fee arrangement.
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Implementing a ‘land and expand’ pricing strategy for business growth
In a highly competitive business environment, such as we often find with professional services, it is arguable that an aggressive pricing strategy helps win work and new clients. A ‘land and expand’ pricing strategy could be an option for you to consider to drive business growth and success.
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‘Sink or Swim?’: Tips on how to successfully onboard a new lateral hire
You’ve done an internal audit of your existing skill set and identified a deficiency. It might be that you never had that particular skill set in the first place. Or it could be you’ve recently lost the skill to a retirement or departure. Either way, you don’t have it, and you need it.
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Understanding the difference between a recurring and reoccurring revenue model
“Recurring revenue” = revenue that is expected to continue on a regular basis with a high-degree of predictability. “Reoccurring revenue” = revenue that is repeatable, but not necessarily on a regular or predictable basis.
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Capped fees – the good, the bad and the ugly
When a client first asks you for a capped fee, you’ll likely not think too much about it. After all what can go wrong? All you need to do is to scope the work, workout the leverage, think about how long it will take you to do the task and then add in a little buffer. But, is this the best way?
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5 tips to make your next client business development meeting a success!
For most professionals, the very thought of a meeting with a new prospect or an existing customer to talk through how you can help them with their problem(s) can be daunting.
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5 after-sales services you should be providing to your clients
Strong client relationships are critical to maintaining and growing business. With most service-based professional businesses – such as legal, accounting, and engineering – relationships with customers tend to be transactional. So, how do you balance a transactional practice with a need to foster long-term client relationships?
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