There’s been considerable coverage over recent days about the disgruntled Goldman Sachs employee who has caused a media storm regarding how he allegedly believes the firm treats its clients. There are some lessons to be learned here for all of us in the client relationship business that go way beyond Goldman Sachs and the investment banking business.
Clients are internal as well as external. Client Relationship Managers need to work hard at building outstanding relationships internally as well as with the end client if an organisation is to thrive.
Like any partnership, even longstanding business relationships can turn sour over time. It’s important to be aware of signs that things might be coming to an end. Here are ten tips for clients and suppliers to look out for.
Ask most clients why they appoint professional or marketing services firms and you can almost guarantee a key factor will be the fact that they are felt to understand the clients business. However, it can be difficult to get closer to the client to gain this understanding, especially when access is restricted.
Face-to-face networking is becoming more important since, in an age of electronic media, it encourages trust. It can be very daunting going to conferences and events to find yourself confronted with a room full of strangers. Here are some tips that can help you break the ice.
Every year we make lists of the same old tired New Year business resolutions. This year resolve to keep it simple. Determine the few, most effective ways you can your improve client relationship management and make a measurable difference to the business.
Client development plans are a good way for service providers to get the most from relationships with clients in the coming year. They help develop strategy, allocate resources, understand the big issues and determine milestones.
Service providers used to entertain their client lavishly at this time of year. Now many service providers have decided to rein in the entertaining because of a lethal combination of the financial crisis, time pressures and the uncertainty created by bribery legislation.
The recession has put huge downward pressure on pricing. While the temptation might be to lower prices for clients, it’s also dangerous. Getting it right is all about how you organise and position yourself. If you get this wrong you can undermine your firm’s hard-earned reputation.
Sky News interview with Simon-Rhind Tutt in Melbourne, Australia. Simon discusses the systems and processes that organisations can use to measure, manage and maximise the potential of business relationships. He explains how looking, finding and benchmarking the commercial ‘X’ Factor can really make a substantial difference.