TABLE OF CONTENTS Knowledge transfer to clients and developing client relationships are deeply entwined, and the success of each depends largely on how client contact is structured and managed. Effective relationship management has always been a central issue for professional service firms, as it is so obviously critical to their success. Some of the approaches currently in use, however, do not adequately address the changing dynamics of the information and knowledge economy.
We discussed the deeply interrelated nature of developing client relationships and knowledge transfer in Chapter 1; we now want to examine the issues in structuring and managing client relationships so as to maximize both knowledge transfer and the depth, breadth, and profitability of those relationships. This will build on what we have learned about adding value to clients with knowledge, and on communication channels with clients.
Our primary objective is to develop sustained and highly profitable relationships with organizational clients. Meeting this goal clearly depends on our ability to add significant value. We have already seen that knowledge transfer is pivotal in adding value to clients, and that knowledge transfer and relationship development are closely linked in a virtuous circle. These building blocks offer us some key reference points to help develop strategies for relationship management.
Some of the specific outcomes we should keep in mind in designing the structure of client contact include:
Maximum value added to clients as perceived by key client executives
Greatest knowledge transfer, resulting in better decisions and enhanced capabilities
