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Effective Client Management in Professional Services - Berkovi Jack

Year 2014


About the AuthorPrefaceAcknowledgementsThe ChallengeIntroductionWhat this Book is AboutWho Should Find this Book UsefulChapter 1. Orientation: Developing a Culture of Client OrientationSynopsisImpact on Clients of a Firm's StructureOrganising around sectorsKey challengesExamples of Client Service ModelsAn Orchestrated PerformanceCharacteristics of a Culture of Client OrientationSector focusClient-facing processesClient satisfactionClient relationship managementClient-related objectivesThe Client/Partner/Manager Needs DilemmaClient ExpectationsThe Firm's Culture: Do Partners, Profits or Clients Come First?Employee Engagement and its Impact on ClientsMaking a Difference to ClientsRecognising Service ExcellenceThe Importance of Regular Contact with ClientsThe Increasingly Mobile ClientSetting KPIs to Improve the Firm's ResultsEvent Planning KPIsThe Evolution of Strategic Marketing and its Impact on ClientsClient Representation at Board LevelKnowing the Firm's Top ClientsKnowing the Firm's Most Loyal ClientsPublish Your Client SuccessesClient Orientation is EssentialDeveloping a Culture of Client Orientation Chapter 2. Buyers: How Clients Buy Professional ServicesSynopsisInitial ThoughtsHow Clients Think and FeelGetting to Know the Buyers and their OrganisationBuyer Motivations in More Detail Achievement factorsInfluence factorsAffiliation factorsSecurity factorsDecision Maker AnalysisAnalysing and Mapping the Client DMUClient MappingGetting to Know Your Peers in the Client's OrganisationTalent Management and DevelopmentRecruiting the Best TalentThe Importance of ReferralsHow International Clients Buy Professional ServicesKnowledge of Buying Processes and Structures is Vital to Win New BusinessHow Clients Buy Professional Services Chapter 3. Portfolio: Managing the Client PortfolioSynopsisThe Evolving Commercial ModelThe Evolution of Marketing in Professional Services FirmsSector FocusClassifying ClientsMetricsClient analysisWays of classifying Clients for focusFee income levelStrategicOpportunisticKey Client Selection and ManagementStrategicIncomeMarket positionPrioritising ClientsOrganising to Serve International ClientsThe Challenges of Managing International ClientsThe Role of the International HQThe Use of Data Analytics to Segment ClientsPortfolio Management is a Strategic PriorityManaging the Client PortfolioChapter 4. Satisfaction: Client Satisfaction and LoyaltySynopsisClient Satisfaction Yields InsightsThe Service Matrix - Capability vs DeliveryIdentifying Performance 'Gaps'The Performance 'Gap'Using Maslow's Hierarchy of Needs to Explain Client SatisfactionThe Root Causes of Failure in Client ServiceLack of common goalsPoor, or unclear, communicationLevel of client effortTargets and Metrics for Client SatisfactionDeveloping Client TrustClient Care Survey ResultsBenchmarking Surveys for Competitor ComparisonQualitative Aspects of Client Satisfaction InterviewsPositive commentsNegative commentsAnalysing Client Satisfaction Survey ResponsesEstablishing a Client Satisfaction ProgrammeLead, plan, researchDiscuss client feedback to establish service goalsSecure top-level support and regular communicationsAllow time for new behaviours to happenAppraise and reward excellenceAttention to DetailDeveloping KPIsUsing the Net Promoter Score to Rate Client SatisfactionAnother Example of Calculating the NPSProbing NPSsCharacteristics of Loyal ClientsCalculating the Value of the 'Promoter' ClientsFurther Research with 'Promoters'Establishing an International Client Satisfaction ProgrammeRewarding Excellence in Client SatisfactionClient Satisfaction Breeds LoyaltyClient Satisfaction and Loyalty Chapter 5. Care: The Role of Client CareSynopsisClient CareEstablishing a Client Care ProgrammeWho Manages Client Care?Client Touch PointsMoments of TruthMoving Activities into ProgressionsThe Client ExperienceExcellence in Client Care Leads to Achieving Preferred Supplier StatusEstablishing a Client CharterContact with ClientsClient ManagementPricing PoliciesTaking on New ClientsClient Care in Action Helps Client RetentionClient CareChapter 6. Brand: Brand, Differentiation and Positioning and their Impact on ClientsSynopsisDescribing the FirmBrandThe brand promiseMessagingLiving the brandBrand Creation and DevelopmentWhat's in a (Brand) Name?BrandingBrand identityBranding and messaging auditsDifferentiationDeveloping a Value PropositionThe challenges of diversityAn example of avalue proposition from an accountancy firmA Hierarchy of Value Propositions May Be NeededPositioning the Firm with ClientsThe Brand Challenges AheadBrand, Differentiation and Positioning Chapter 7. Reputation: Gaining Reputation with ClientsSynopsisSources of ReputationMedia Relations and its Impact on ClientsThought Leadership and its Impact on ClientsThought FollowershipThe Importance of Having Media-trained EmployeesSponsorshipIssue-Based Marketing CampaignsMemberships of Industry Groups and NetworksThe Challenges of Reputation ManagementGaining ReputationChapter 8. Relationships: Client Relationship DevelopmentSynopsisThe Aim of Client Relationship DevelopmentRegular CommunicationClient PanelsSpeaking EngagementsThe Client Relationship Development ProcessCourtshipPrepare for the relationshipSelect each otherEngagementAgree the desired level for the relationshipDocument the relationshipDevelopthe relationshipReview progress ofthe relationshipTypes of Client RelationshipRelationship Evaluation ProcessRelationship TrackingClient SegmentationTypical business drivers researched in market segmentationInfluencing factorsSupplier selection and evaluation factorsAN EXAMPLE OF SEGMENTATIONClient Data Mining and Data AnalyticsClients that DefectClient Relationship Management and CRM systemsCRM SystemBenefits of CRMLaunching a CRM ProgrammeCRM System FunctionalityGetting the Best from a CRM SystemThe Challenges of Developing Strong Client RelationshipsClient Relationship Development Chapter 9. Development: Establishing an Effective Client Business Development ProgrammeSynopsisThe Growing Importance of Business DevelopmentProspectingTargetingContactingThe importance of listening and questioningMeetings and conversionsStructuring the BD OperationStrategic Client ManagementThe Developing Role of the Client Manager in Professional ServicesRole Description for a Strategic Client Manager in a Professional Services FirmOverall role: a relationship builderTypical competencesSkills of the strategic client managerStrategic Client Planning Process for Major Purchases1. SELECT OPPORTUNITIES2. PRE-CONTACT ANALYSIS3. GAIN COMMITMENT OFTHE DECISION MAKER4. IDENTIFY AND GAIN AGREEMENT ON NEEDS5. DEVELOP A SOLUTION6. COST-JUSTIFY THE SOLUTION7. OBTAIN AGREEMENT8. PREPARE PROPOSAL9. PRESENT AND CLOSE10. BUILD A CONTINUING BUSINESS RELATIONSHIPThe Importance of Leveraging Alumni RelationshipsSales Pipeline ManagementAdding Referrals to the Sales PipelineAdding Testimonials to the FunnelThe Importance of Client Service PlansBusiness Development Needs Focus and Metrics to be SuccessfulBusiness DevelopmentChapter 10. Attraction: Attracting New ClientsSynopsisGrowing the Client Base Strategically and ProfitablyThe power of referrals in attracting new clientsTracking prospective and past clientsProspective client preferencesRaising awareness in non-clients about your firmThe Power of Client Testimonials in Attracting New BusinessProducing Client Case StudiesWebsites that Attract InterestAdvertising and Digital Media ChannelsArticles and MagazinesConferences and Other EventsDirect Marketing and PodcastsPower and Influence of ClientsThe Challenge of Attracting New ClientsAttracting New ClientsChapter 11. Proposals: Developing Winning Client Proposals and BidsSynopsisWinning Proposals and BidsProposal and Bid ContentResponding to Proposals and Bids: A Step-by-Step Process1. Bid or no bid?2. Background research on the client3. Sources of your credentials4. Value to your firm5. Selecting your bidteam6. Meeting the client to understand their requirements7. The client's requirements and processes -10 key questions to be answered8. Bid evaluation9. The proposal document10. Presenting your proposal11. Declining to respond to a RFP12. Monitoring and celebrating the success rate of proposals and bidsFeatures, Advantages, Benefits and EvidenceWell-managed Bids and Proposals Help to Grow the BusinessProposals and BidsChapter 12. Innovation: Innovations that Impact ClientsSynopsisProject ManagementInnovative MergersClients and Corporate Social ResponsibilityCSR ProgrammesInnovative Service DevelopmentOther Innovations Used by Professional Services Firms Attracting prospective clients at eventsCreating client interest through thought leadershipCreating interest through sponsorshipCreating unusual social eventsInnovative ProposalsInnovative Contact StrategiesInnovative Firms Attract ClientsInnovations that Impact ClientsChapter 13. The Impact on Clients of Mergers among FirmsSynopsisMarket ConsolidationBenefits to ClientsWell-managed Mergers Can Improve a Firm's Market PositionThe Impact of MergersChapter 14. The Way Ahead for Clients of Professional Services FirmsSynopsisThe Enlightened FirmSector ConsolidationMarket Development Impact on Clients in Emerging MarketsClients Working with Their Advisors to Develop New ServicesCompetitor Regulation Impact on ClientsThe Use of Technology to Target ClientsUsing Social Media Channels to Build Client RelationshipsSocial CRM in Professional ServicesThe Increasingly Mobile ClientSocial Media Channel UsageThe Growth of Digitised Content MarketingAn Innovative Merger of Law FirmsCreation of Tailored Networks for ClientsChallenges AheadThe Way Ahead
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