Great client conversations have never been more vital
Being brilliant at what we do doesn’t always equate to being brilliant at exploring a client’s wider business outside the assignment on which we are currently working. Firms are now realising the key to unlocking the next step is the ability to be able to have great client conversations.
Great client conversations have never been more vital
Being brilliant at what we do doesn’t always equate to being brilliant at exploring a client’s wider business outside the assignment on which we are currently working. Firms are now realising the key to unlocking the next step is the ability to be able to have great client conversations.
Is cross-selling dead? Has collaboration had its day?
Absolutely not. But is it time for the missing piece in the jigsaw? Having ‘great conversations’ with clients beyond the current matter is the final part of the puzzle. In this article we will discuss:
- Why great client conversations (beyond the current assignment) are so important
- Why they are not happening as often as they should
- How to help professionals feel more confident having a conversation beyond an identified issue or current assignment
For many years firms have strived to motivate their professionals to introduce additional services to their existing clients. These initiatives have come under several headings including “Cross Selling” and more recently “Collaboration”.
We have conducted research, written articles and run hundreds of successful programmes over the last 25 years on both subjects with professional services firms across the world. These have often looked at overcoming common internal barriers to cross selling and collaboration, which we know you will recognise:
- Fear of loss of control – the ‘my client’ mentality
- No real incentives – what’s in it for me (a lack of recognition and reward for the activity)
- Poor internal communication – working in silos or different teams and offices
- Lack of services/product knowledge or other’s capabilities - just not knowing what else the firm offers
- Lack of trust in others – not wanting to bring anyone else into the client in case it damages the current relationship
- Little understanding of the client’s business and factors impacting their future beyond current assignments
Many firms have addressed these issues or have plans in place to do so. If they haven’t, they might want to as these are fundamental barriers that lead to the prevention of collaboration and growing the business from existing clients.
Lots of firms are now looking for the next step in the journey or the missing piece of the jigsaw. How many times do we hear firms say: “We’ve invested time and resource internally to break these barriers down, but we are just not seeing the growth we expected?”
Firms are now realising the key to unlocking the next step is the ability for their professionals to be able to have great client conversations.
Why is this so important?
By being able to have great client conversations it allows the professional to gain a deeper insight and understanding of some of the other challenges and opportunities impacting the client’s world. What’s on the client’s mind? What’s important to them now and into the future?
With this knowledge, the professional demonstrates true interest in the client, deepens the relationship and potentially identifies other opportunities for the firm to help the client.
Why aren’t these broader conversations happening as often as they should?
What is currently stopping the professional from having these great client conversations? To be fair, some are, some have been trained and coached and some are just natural at it. Natural at being genuinely interested, natural at asking great questions and natural at really listening and having the confidence to explore the client’s world outside their area of expertise and the current assignment. This isn’t however the case for many. Those who are natural at it will do it their way, which may not be right for others. Bottling and sharing their way can be difficult.
Most professionals are exceptional at what they do and are technical specialists in their area of expertise. They do amazing work for their clients, time after time, and love solving their client’s issues within their specialism. However, this doesn’t always equate to them being brilliant at exploring the client’s wider business outside the current assignment they are working on.
Research shows, that typically, only five to 10% find this natural, easy or comfortable. Many shy away or avoid these wider discussions with clients due to a lack of confidence, a potential misunderstanding of what’s involved or never having been shown how.
We have worked with many firms (most recently through a series of short live online sessions) and previously through face-to-face workshops and coaching to develop the skills and confidence of their client facing professionals to facilitate these great client conversations. Conversations beyond the current assignment and sometimes their area of expertise. Conversations that require them to ask questions for which they may not have the answer.
“Most professionals are exceptional at what they do and are technical specialists in their area of expertise. They do amazing work for their clients, time after time and love solving their client’s issues within their specialism. However, this doesn’t always equate to them being brilliant at exploring the client’s wider business outside the current assignment they are working on”
How can we help professional become more effective, confident and comfortable in this key skill?
The starting point is always to ensure the professionals are comfortable with what’s been asked of them by the firm. This is important as they can still have fears, concerns and misconceptions. Often believing they are being pressured to “sell” other products or services under a different heading or guise! This is not the case.
What this is about is having great client conversations demonstrating a genuine desire to understand a client’s world. What’s important to them? The factors affecting their business, organisation or family? This level of understanding will help identify ways to support clients in achieving their goals, maximising their opportunities and to defend them from potential threats. The key is for the professional to understand they will only ever appropriately present or introduce a new contact, solution or service if it is right for the client.
What they are being asked to undertake is to widen their conversations and be truly interested in their client, something most clients would really value from their trusted advisor.
Dispelling their fears about “crass” selling or any misconceptions is so important. This should then be reinforced by developing their skills and confidence in how to prepare, structure and conduct great client conversations. The whole purpose of these conversations is to:
- Gain a wider, deeper and better understanding of the client
- Demonstrate genuine interest in the client
- Deepen the relationship and level of trust even more
Noting, not once has the term “to sell” been mentioned.
Before looking at the skills involved it’s also important to provide the professional with the reassurance they don’t need to be (and very rarely would ever be) an expert in every solution their firm has to offer.
What they do need is to have an awareness of the services and the firm’s capabilities. They also need to know what questions to ask and how to ask them to be able to identify a potential client requirement and therefore an opportunity to help and bring some of the rest of the firm’s value to the client.
What are the skills involved in great client conversations?
Well, no surprises. It’s the ability to ask great questions and actively listen. This sounds simple. So why do so many bright intelligent people still struggle? Professionals are great at asking questions working on projects but sometimes appear less skilled in asking questions beyond an assignment or their area of specialism.
In our next article on great client conversations, we’ll explore:
- What skills are involved in having great client conversations
- What questions to ask, when and how to ask them
- What are the barriers to exploring and listening and how to overcome them
- How best to develop a professional in these areas without patronising whilst helping them realise they can improve
- How to prepare for a great client conversation, wider than the current assignment
- How to structure this type of meeting which will focus on what we term as “horizon thinking”
All of this is with the intention of building the skills and confidence of professionals to become more comfortable and effective in having great client conversations outside of their area of expertise. Conversations that will identify new opportunities to help clients and provide new fee income streams for your firm.
For a copy of the second article in the series on great client conversations or if you have any other business development or client management questions or requirements, contact Paul or John on the email addresses in their by-line.