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Big accounts: Tips on leading and managing key client relationships

Greg Bott considers how client partners can secure ?the commitment of their peers to develop key ?client relationships

22 October 2013

This article reports on the progress of an ongoing study that investigates how London law firms are responding to significant commercial pressures through the effective management of their key client relationships.

The research is evolving, but already a number of practical steps that firms can take to effectively manage their key client relationships are emerging. There are five key learnings to date.

  1. In a number of instances, remuneration and reward structures are encouraging behaviours that are inconsistent with the long-term outlook that key account management requires. On average, it takes four years for an organisation to transition from having no key account programme to one that is effective, drives income growth and strengthens client relationships.

  2. Key account management is not a sales initiative. It requires cross-functional buy-in, organisatio...

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