the benefits are high, but only if the right people are involved.
by domenick j. esposito
8 steps to great
the client situation review (“csr”) is an effective tool for delivering client value.
more by domenick j. esposito
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the csr process is one of the most powerful and effective techniques for strengthening a client relationship and improving the quality and level of your service. in the spirit of building a mid-market sustainable brand, you can use the csr to demonstrate your ability to add value by providing creative ideas, asking the right questions, identifying challenges and providing solutions.
the csr presents a game plan for proper planning, preparation, execution and followup. it is a labor-intensive tool that i encourage you to use with your quartile 4 clients (i.e., your marquee clients and brand builders) on a select basis, as it represents a serious time commitment. the client benefits from the csr approach in the following ways:
- the csr provides the client with an opportunity to learn about best practices within their industry.
- it offers updates on trends and issues of interest to clients, from subject matter experts.
- it affords clients the opportunity to evaluate your partners in a business planning setting.
- it provides an opportunity to stop the world and evaluate their business with their advisors.
- the client receives a viable byproduct of the annual audit with ideas and recommendations that will benefit the company.
inviting the client to participate
when a client is first approached about the csr, it is not unusual for objections such as these to be raised:
benefits
this is a brainstorming opportunity. you will get some new ideas.
- in this exercise you will have an opportunity to see how your company stacks up in comparison to comparable companies in your industry.
- you will receive a detailed report summarizing all the issues, ideas and recommendations resulting from the meeting.
items for your consideration
- it is critical that you clarify the client’s expectations about the csr. if their understanding is different than yours, the csr will not meet the client’s expectations.
- many clients suspect the csr process is nothing more than a clever way to sell services. remember, needs sell services, not persuasion.
- sometimes, clients invite too many members of their team to these meetings, often forget crucial people or aren’t as candid when certain people are in the room. you should coach the client on involving the right participants and the importance of everyone participating.
- accept the fact that charging for this process will destroy the impact and potential of the csr. don’t be pennywise and pound foolish.
- try to avoid scheduling the meeting at the client’s facilities or your office so as to minimize distractions.
the csr needs to be viewed as a component of a larger, fully integrated and perpetual process that contemplates the business development and client service delivery processes as depicted in the diagram below.
business development and client service delivery processes:
fully integrated for long-term business growth
effective csr must include senior members of client team
a csr is most effective when the client team is composed of knowledgeable participants representing the key disciplines of the client’s senior management team.
ideally the following participants would attend:
it may be appropriate to invite other trusted advisors of the client, especially if the client relies on their counsel. examples include attorneys, bankers and personal financial planners.
the csr meeting
the csr meeting is designed as a high-level, interactive opportunity. through this process you will be able to solidify a win-win relationship for both your firm and the client.
the format for the csr is client-centered and relationship-driven. generally, the process is as important as the product. a new client is often interested in “testing” you as professional business advisors. the meeting process allows the client to identify the key issues they are dealing with, and allows you to respond with value-added ideas that meet their needs.
meeting flowchart
the client situation review
