Fail to plan, plan to fail

Fail to plan, plan to fail

In this the final blog in my series on key account management best practice in the legal sector, I explore how the CRP and his/her client service team pull together a client service plan. This plan becomes the ‘contract’ between the CRP and the firm’s management and is the document against which the team’s efforts will be measured.

In my experience, the key to putting an effective plan together is to keep the whole process simple and to minimise the amount of paper involved. An effective key account plan will hinge on the robustness of the research and intelligence gathering undertaken (covered in a previous blog), an objective analysis of what this means in terms of the opportunities and threats facing the team in taking the client relationship forward, and appropriate action planning and implementation to deliver the desired client service strategy.

Account objectives

The front end of the plan should focus on the main objectives being set for the account. These will vary from account to account but are likely to include some of the following:

  • Fee objective, e.g. increase fee income from the client by 30% over the next 2 years.
  • Share of client spend objective, e.g. increase share of client’s legal spend from 5% to 20% over the next 3 years.
  • Service penetration objective, e.g. introduce and deliver annually at least £100K of property advice to the client.
  • Client satisfaction objective, e.g. increase NPS from 60% to 80% on post-matter reviews over the next 3 years.
  • Strength of contacts objective, e.g. increase exposure to the client’s board and ensure that the CRP is well known to the Chairman, CEO and FD within the year.

Service strategy and actions

In terms of the main body of the plan, I tend to structure it around three

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About the author:

Kevin Wheeler has been advising professional services firms on all aspects of marketing and business development for nearly 30 years. As a consultant he helps firms to manage and grow their key clients as well as to win new ones. As a certified coach with WABC he works with partners and those approaching partnership to improve their BD skills.