How relationship intelligence improves client retention

Your clients are all on another firm's prospects list. So, when a partner or key employee moves there too, you need to be sure that your firm is stepping up to manage the client relationships that could be affected. But, with the challenge of remote working and lack of time, how can you gain the necessary management information to protect revenue in a timely and effective manner?

Handing over key accounts

When a partner is set to leave your firm, that’s the time to review key accounts and set-in motion a comprehensive handover process. So, understanding who is talking to whom from your firm will give you an advantage as to who will be the most suitable successor to manage the account.

Using real-time data analytics with a software tool such as Client Sense means the handover of a retiring or leaving partner’s key accounts is made very simple. Close analysis will allow you to see which other key employees already have a relationship with the client.

Keeping track of the transition phase is made easier with the visibility that Client Sense provides. Once key dates for this period are input, a visual chart maps the frequency of conversations taking place during this time (not the content of the conversations). This is made possible because Client Sense connects seamlessly to your Microsoft Exchange of Microsoft 365 communication platform.

A traffic light alert system offers a simple view to alert employees when communication is on target or overdue. It’s a great reminder to keep up the momentum to ensure a successful handover and therefore improving client retention.

Unresponsive clients

Whilst this solves the issue of succession planning. What if you have an unresponsive client?

Initial fear is that you have lost a key client contact and that potentially you will have to start to build a relationship with a firm from scratch. However, what if we were to say that with relationship intelligence software, you can spot if the person at your client’s firm has moved and to where? Client Sense connects to LinkedIn profiles giving you this capability. This potentially creates another opportunity for your firm.

This type of management information is invaluable to your business development team. This insight is already available within your firm’s communication channels – you just need the software tool to tap into the wealth of information that allows you to manage existing clients, protect and grow your revenue.

Spotting cross-sell opportunities

Cross referencing inbound enquiries and marketing responses makes it easy to see if your firm has spoken to a prospect before and whom had the relationship previously. You then have the information to hand to establish who is the best contact internally to make an introduction.

The good news is that Client Sense can give you these results automatically just with a quick and remote installation. Absolutely no data input is required from partners.

Understand quality and strength of relationships for growth

Relationship intelligence unearths the quality and strength of relationships held by your firm. Delve into the data from Client Sense to explore your existing client contacts and referrers for cross selling and improved client retention.

With Client Sense you and your team, even when working remotely, know who is in contact with who enabling you to improve client retention, unlock opportunities and protect revenue.

For professional services firms, including legal and accounting firms, if you are interested in discussing how you can enhance your business development capabilities, please contact the team at Symphony for a Client Sense demo.

At Symphony - APS we specialise in offering products and services for professional services firms that drive growth. Read about other solutions in our comprehensive product library including: accountancy Practice Management, CRM for accountants and Marketing Automation.


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