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Two birds, one stone

Your next client could be anyone, so effective targeting is a tricky business, says Douglas McPherson

13 September 2013

Professional services have woken up to the true value of client relationship management (CRM) in recent years. More importantly they've realised that CRM is about relationships and old-fashioned human interaction rather than software.

However, in a world where clients could well be one-off purchasers, is a well-timed email update or birthday card ever going to create more than a trickle of referrals to family and friends? My question is: with all this focus on the client, who's taking care of your referrers?

Private client work is still heavily driven by warm introductions and recommendations from other professionals making referrers your single most productive source of new business. Yet the majority of fee earners still rely on what's in their heads to manage referrers and nothing more scientific than instinct to measure the return from each relationship.

This is why I strong...

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