Key Account Management - An Essential Tool For Ambitious Professional Service Firms

Key Account Management (KAM) is becoming increasingly common among Professional Service Firms firms. (Lawyers, Accountants, Business Advisors/Consultants etc) But does KAM really add value, or is it just more marketing buzz words?

Key Account Management is an effective means to managing and developing relationships with your clients. The consistency of approach that it brings, works towards the desired state of placing your Firm in a preferential position for repeat work instructions and becoming that much coveted “Trusted Advisor”.

Key Account Management matters, because in many cases it’s what separates your firm from the competition. In a digital age, information and choice has never been greater. Clients expectations are higher than ever. More and more clients seek in all their supplier relationships to build arrangements that support them in their key strategic goals. This simplifies the supply chain and makes their business more resilient. Why give work to someone who knows nothing of your business when your regular supplier can hit the ground running?
If your competitors have stronger relationships with your clients, they will likely win out. You need to be front of mind at all times and a structured approach to KAM will give you this.

So how do you begin to implement a KAM strategy? Get yourself a decent CRM system or at worst set up a spreadsheet with all your clients on it and integrate a calendar to display your engagement. If you are part of a larger firm, work as a team, pulling in the colleagues you need and focus on the client not on your practice! Understand the client and their market. What are their strengths and weaknesses and what are they seeking to achieve? Identify opportunities where you can help the client. Talk to your client – ask them about their business and not just about the next job, but where they expect to be in the short/mid/long term. Ask them about their exit strategy!!

Who should be undertaking Key Account Management? Anyone who has clients really, but in particular those who are serial work providers. If your clients are largely retail and/or no single client is very large, then you need to understand their markets and the challenges clients face – Ask yourself whether you really understand the challenges your clients face and how you can help them, or whether you are simply seeking to tell them how good a Lawyer/Accountant/Advisor you are.

Cameron Carnegie have now added a one day Professional Services Key Account Management course to our portfolio of training courses. This compliments our courses in Sales & Account Management, Strategic Business Development and Social Media in Oil and Gas. For more details contact This email address is being protected from spambots. You need JavaScript enabled to view it.

Key Account Management - An Essential Tool For Ambitious Professional Service Firms

Testimonials

Mervyn continues to be great support to both myself and the business in achieving our growth ambitions. We have benefited hugely from his forward thinking, guidance and energy and look forward to continuing this in the future. I would have no hesitation in recommending Mervyn and Cameron Carnegie if you have plans to scale your business.

Ian Joy , Managing Director ERG Scotland Ltd

Once we decided to source training for our Business Development and Account Management teams, we turned to Cameron Carnegie for assistance. I was initially a little apprehensive about the training taking place digitally, but Merv delivered an excellent, engaging training course really ensuring that he took time to involve each member of our team, providing them with simple tools to use going forward. I was genuinely blown-away by the improvement across all of the team and I wouldn’t hesitate to recommend Cameron Carnegie if you are looking to improve the performance of your Sales Team.

Matt Nicoll , UK Commercial Manager Swire Energy Services

"We engaged Cameron Carnegie to undertake some bespoke training to upskill the team in the areas of Sales & Account Management. The solution was tailor-made to suit our business and we are all delighted with the results which have been easy to quantify and measure. We would definitely engage Cameron Carnegie on similar assignments and would have no hesitation on recommending them."

Scott McIlwraith , General Manager - Renewable Energy Kuiper

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