Acquiring key accounts is different than sales. This is more than just getting into executive offices.
As a contender, a critical step in winning a first assignment is understanding that your firm will most likely be funded by a discretionary budget, rather than an annual operating budget.
Members of the executive committee have discretionary budgets for critical [...]
Discussions about how to win major accounts usually sound like this:“I know someone in there”. This I call the “network” myth.
You may have recruited business development talent because of their rolodex.
You know that word of mouth marketing and referrals is the most dependable way for specialized, knowledge services to win new clients.
And yet, when it comes to getting [...]
Business services firms, which are frequently project-based, can stabilize revenues by becoming a preferred vendor to key accounts.
More and more business is conducted virtually rather than by face-to-face meetings, so major accounts can be supported by smaller businesses.
Smaller businesses are vulnerable if they cannot provide coast-to-coast support when the project is running. Being able to [...]
A few key accounts on your client roster can mean you sleep well at night.
What is the best way to track down a major account?
Here’s a story from the concrete jungle:
A second-generation, design-build firm found themselves with shrinking profit margins and a reputation as a me-too supplier in their industry.
My task was to track down larger, [...]
I’ve been told that key account acquisition is best done face-to-face.
I beg to differ.
My client, a private equity placement firm serving sophisticated investors was launching a new investment vehicle.
They had asked me, “Could large transactions be completed entirely over the telephone and still satisfy regulators?”
The answer was yes. In fact ,this investment group now operates as [...]
