I recently reviewed the book “Effective client management in professional services – how to build successful client relationships” by Jack Berkovi (see http://kimtasso.com/book-review-effective-client-management-professional-services-build-effective-client-relationships-jack-berkovi/ ) and have summarised below the key points of some of the Accountancy marketing case studies for ease of reference:
BDO
- Allan Evans is on the global board to ensure consistency in relationship management processes, structures and disciplines across the network
- “The same experience must occur wherever BDO does business. This is critical for mid-sized firms. For example, the Net Promoter Score system is becoming mandatory for all member firms”
- There is a managed client programme for those clients needing a tailored service related to size, work complexity or international scope
- Client feedback is sought annually within a structured national programme and also on a project by project basis at several points in the year. Social media is also monitored
- “Be prepared to publish targets and results and measure down to individual level and share satisfaction scores with clients”
- Benchmarks against other firms and rewards are influenced by satisfaction results
Grant Thornton
Strategy
- Scott Barnes was elected CEO in 2008 following the merger with Robson Rhodes in 2007
- He set an ambitious target of doubling profit per partner and restructured the firm in the first six months
- The firm adopted a balanced scorecard process (see http://kimtasso.com/using-kaplan-and-nortons-balanced-scorecard-as-a-business-planning-tool/)
- An example client priority was: “increase the level of measured client satisfaction in the highest scoring zone from 60% to 75%”
- An example people priority was: “all employees to have a formal, agreed personal development plan within three months” which included client facing objectives
- There was an internal communications campaign and regular review meetings to ensure everyone knew how the firm performed in the four key areas
- Values developed with acronym CLEARR – Collaboration, Leadership, Excellence, Agility, Respect and Responsibility
- It has achieved continuous growth since 2008 and now has an ambition to be a £500m revenue organisation by 2015
- It has won numerous awards for both client service excellence and management
Brand
- Bradley Neill became International Brand Manager of Grant Thornton International in 2013
- He works with five regional marketing managers to ensure consistent application around the world
- He is raising the quality of all printed and digital materials across the global network by implementing regional design hubs and a list of accredited local suppliers to increase brand compliance
- The current strapline “An instinct for growth” has met with wide acclaim from employees and clients
- There are global training and development initiatives to establish appropriate behaviours
- Regular audits of the brand are undertaken and he manages the legal aspects of brand protection across multiple jurisdictions
Global Key Accounts
- Darren Cox was appointed Global Key Account Management
- “Strategic approach essential….focused business strategy that concentrates on those clients that are of the highest corporate value in terms of income, profitability and growth”
- Requirements of a KAM programme:
- Board level sponsor
- Alignment with firm’s strategic plan
- Appropriate behaviours in place through coaching and mentoring
- Selection of the right clients
- Appropriate value proposition for each client
- Needs assessment so action plans are realistic
- Defined team member responsibilities and KPIs
- Mechanism to reward non-billable time invested
- Budgetary flexibility to support KAM (30-40% of a high earning partner’s time)
- Measurement and reporting (ideally by a third party) against annual objectives
- Measure and monitor profitability of business with the client
- Full time resource spending at least one day a week with the client
- Appropriate supporting structure to underpin the relationship and monitor satisfaction
- Sensitive to cultural and international differences to ways of working
- A feedback process involving the client at least annually
- Celebration of success
- Acceptance that we learn from success and failure
- Facilitated workshops are used with two client teams so that they challenge each other’s plans – followed by regular reviews through video and teleconferencing
- “In my experience, KAM works better in some cultures than others and are often driven by the West”
- A dedicated internal portal allows communication between team members and across the firm
- Balanced score card used by managing partners to ensure KAM KPIs are delivered
- Client selection criteria include:
- Fit with firm’s global industry groups
- Whether a formal master service agreement or preferred supplier agreement is in place
- Revenues in excess of $1 million per year for past three years with growth potential
- Multiple service line opportunities identified
- Geographic fit
- Established relationships with senior head office buyers and influencers
- Availability of lead partner for non-billable time
- Local business development resources
RSM International
- Jean Stephens has been CEO of RSM International since 2006 – it has 700 offices and over 32,000 people (7th in global fee income)
- Strict selection criteria for new member firms
- Stage one – Conduct desk research, hold exploratory meetings where vision and strategy are considered
- Stage two – Review of firm’s quality infrastructure and how leadership (“the tone from the top”) is established. Existing client base reviewed with a focus on sectors, international reach and size. Synergy of the firms is important.
- Stage three – Technical due diligence where processes and procedures are reviewed and compared
- There are many policies to ensure consistency – high quality of client service is in all communication
- Monthly managing partner bulletin and internal news bulletin for staff
- Global leader for quality and risk recently appointed and there is a global audit methodology along with standards for tax and risk assurance. And an annual inspection programme for monitoring member firms’ plans, training and accountability – firms critique each other
- There is an RSM Academy – now in its eighth year – a leadership and specialist training programme to increase their international client skills and capabilities
- It has created global engagement leaders for management of multi-country clients
- Annual conferences in all regions as well as a three day annual global conference and there are regional operating groups and centres of excellence
- Transition programme for firms leaving the network to minimise impact on clients
- “Connected for growth” is an international business development project providing member firms with the skills and tools needed to engage in cross-border BD strategies. It has pricing and scoping tools to enhance value to clients and project management tools to aid client satisfaction. There is also a skills development programme providing high value training to create Global Engagement Leaders.
The book also contains a case study of developing the ICAEW brand.
