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PM Forum - Toronto
Relationship-based Sales and Marketing: Building winning relationships
If ever your firm doubted the importance of relationship based service and business development, the panel at Toronto Chapter's event on September 30, 2008 should have convinced you - there is no other way.
Jason Bullen, Partner at Cassels Brock & Blackwell laid the principles out clearly. "All we sell is trust and credibility" he said, and added "established relationships bring value to our firm".
"Now we are more consultative" added Doug Coll, Vice-President, Client Relationship Management, Pricewaterhouse Coopers. He offered that the changes in the regulatory environment and growing client sophistication have created the need for relationship based services and sales. To do that effectively the right client teams have to be in place for clients with the greatest potential to increase revenue. From the opposite perspective, the absence of the right client teams exposes the firm to the risk of client departures.
Bullen and Coll echoed the views of Tara Berze, Manager, Marketing Deloitte. The proof of the pudding is in the eating. "Successful relationship management requires time and committed professionals which will deliver more business, strong referrals and open communication" she said. Coll added "Getting more RFPs is a sign of a strong relationship; the absence of RFPs and new assignments are danger signs."
All three participants reinforced the theme of multiple client contacts, horizontally and vertically. Berze pointed out the need for a legacy plan as many of the C's today are approaching retirement. She also reinforced how the role of professional advisors has changed - "It is critical to become an interested advisor and become part of the client's business" she said.
Marketing professionals have an important role to play in relationship service and sales. Berze offered several suggestions including: understand internal and external client needs; develop targeted industry events; limit the number of guests to ensure relationships can develop; personalize the experience; use sponsorships with discretion and develop tailored collateral materials.
Bullen suggested that although doing good work was necessary, the real glue is the emotional connection. "Bring new ideas to the table; offer a fresh attitude and suggestions" he said; "if you want to develop solid relationships".
Given the reactive nature of professionals in general, building client teams and using relationships to create a better service and sales environment is not natural. In response to an audience question Bullen was direct. "A firm cannot possibly transform itself into a relationship focused culture without coaching. Coaching of professionals at all levels brings a regimen and discipline and provides structure, goals and measureable objectives which are an essential part of a relationship culture."
Brian Cope
Director of Marketing and Strategic Services
Promarc Consulting Group Inc.
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