Developing Client Relationships

This paper discusses the unique challenges that professional services organizations (PSOs) such as law practices, consultancies, and accounting firms face in acquiring and retaining profitable clients. It explains how the customer lifecycle management (CLM) framework developed by "old line" manufacturers is now being adapted by PSOs as client lifecycle management, a model that emphasizes: Identifying and attracting clients who are closely aligned with your strategic goals Paying as much attention to quality of service as quality of work Bringing discipline to client-retention processes Satisfying customers to generate more repeat and referral business Creating systems that provide for greater visibility into performance