Growing key clients through KAM (Key Account Management) is the low hanging fruit of business development

By Kevin Wheeler

When picking fruit from a tree, the low hanging fruits are the easiest to pick. The same is true of business development: some work is easier to win than others. And the easiest work to win is from your existing key clients. And why is this so?

Well, with your key clients, you know them and they know you; strong relationships are already developed. Secondly, the client trusts you and without trust you won’t sell advisory services. And thirdly, your knowledge of their business and plans puts you in pole position to proactively identify their advisory needs.

So, when trust is built and relationships are strong, growing existing clients is the easiest work to win. But you still need a structured programme for managing and growing these key client relationships, and this is where you need KAM. So, what is the evidence that developing key clients is crucial?