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Managing Relationships with Financial Institutions

Outline Summary

  1. Developing a Client Profilemore
  2. Dimensioning the Walletmore
  3. Defining your Client Service Team (CST)more
  4. Setting Critical Account Objectives (CAO's) for the overall Client Service Team
  5. Translating C.A.O. into marketing activity
  6. Using client management technologies to develop superior insight and ideas
  7. Focusing the Client Service Team on the Major Wallet/Retention of Business and Repeat Transactions
  8. Relationship economics
  9. Preparing for the annual relationship reviews - and the Relationship Cycle
  10. Building Institutionalised Relationships
  11. Personal Accountability

1. Developing a Client Profile

  • How a client's strategy shapes opportunity for the firm.
  • Focusing on the "wallet of the future" vs the 'wallet of the past'.
  • Understanding the key performance needs of the client.
  • How the client defines and allocates roles for its core providers.
  • Understanding how the client manages its core providers vis a vis its second tier providers.
  • Relationship economics (Coverage intensity vs. Current + Potential Wallets).
  • Understanding where you are in the Relationship Zone.

2. Dimensioning the Wallet

Drivers of the wallet
  • multiple buying windows
  • multiple business units
  • multiple geographies
Sizing the separate components of the client's wallet
  • stable or operating expenditure
  • market driven client spend
  • event driven spend
Defining the available wallet
  • product depth
  • quality
Optimising share of wallet (profitability vs. risk)

3. Defining the Client Service Team (CST)

  • Aligning the core CST with the role of the firm and the wallet opportunities.
  • Defining other sales teams – composition, roles, responsibilities, integration and co-ordination with the client service team.
  • sector coverage team.
  • product coverage teams.
  • regional coverage teams.
  • business division (e.g. core bank, securities firms, insurance company, asset management and private banks).
  • Aligning the coverage profile and sales activity of products sales teams and regional sales teams with the overall client relationship.