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Wednesday, 22 August 2012 09:37

10 Questions to Help You Check the Vital Signs of Your Client Relationships

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Most doctors firmly believe that certain types of regular screening tests and checkups are essential and help save lives. And most of us, no matter how much we despise devoting an hour or more to getting poked and prodded, dutifully go for an annual checkup each year. After all, our health is vital to our overall well-being and happiness. Annual checkups can play a vital role in your professional health as well—especially with regard to client and customer relationships, which are the lifeblood of every business.

Here are ten questions you should ask yourself when you are considering the health of your client relationships:

1. Do you have access? If there were such a figure as a “client relationship doctor,” Lloyds Banking Group Chairman Sir Winfried Bischoff would be the archetype. The former Schroders CEO and Citigroup chairman is a renowned trusted advisor who has calmly and wisely guided hundreds of CEOs through bet-the-company transactions and deals. Last year Sobel asked Sir Win, “How do you know when a relationship is not going well?” His first response was, “If it’s taking a very long time to set up a meeting, that’s usually a bad sign!”

2. Do you and your client trust each other to do things without extensive documentation, checks, and controls? Trust is the essential foundation of every long-term relationship. It’s the feeling that the other person will come through for you. It’s the belief that they will meet your expectations. It’s the confidence that they will demonstrate integrity, deliver competently, and focus on your agenda, not theirs.

3. Does your client openly share information with you? In a healthy, trusting relationship, there is transparency. Does your client give you access to their plans and proposals? Do they freely share information with you, within the constraints of confidentiality?

4. Does your client confide in you and bounce ideas and decisions off you? Does your client ever call you up to run a new idea or potential proposal by you and get your opinion? Or do they make important decisions and then call you afterwards? It’s not reasonable to expect them to discuss everything with you. However, if they have an issue in your domain, and the relationship is a strong one, they will most likely draw you in before reaching their final conclusions.

5. Are you the first person the client calls when they need something in your area of expertise? If the client views you as interchangeable with other suppliers, then you’re a vendor, and you’ll be subjected to constant price pressure as the client continually shops around.

6. Are you treated with respect—like an important advisor? This is hard to quantify, but you usually will know in your gut if this is the case.

7. Is working with this client a satisfying, rewarding experience for you and your team? Some clients just drain you. They are overly demanding, they check up on your every move, and they basically drive you crazy. Sometimes, you’re also stuck with a client who is too low in the organization to really appreciate the impact you have. This is not a healthy relationship! Life is too short—if you can’t fix a situation like this quickly, you should get out and double-down on more promising clients.

8. Is the relationship economically rewarding for you? You could have a great personal relationship with a client, but for a variety of reasons be losing money on the work! Sometimes, weak profitability is your fault—you have underestimated the scope of the work or underpriced it. But sometimes it’s a sign of a client who knows the cost of everything and the value of nothing.

9. Are you having an impact and helping to improve your client’s business? In the best relationships, you have a clear and positive impact on the client’s organization. You help the client improve their business.

10. Is your client referring you to friends, colleagues, and other organizations that could use your expertise? Active word-of-mouth referrals, arguably, are the ultimate sign of a good relationship. A testimonial is one thing—it’s passive—but an active referral is a sign of a very different level of satisfaction and delight with your services.

Just as you shouldn’t make assumptions about or neglect your own health, you shouldn’t do so when it comes to the health of your client relationships. Each year, go through this checklist and rate each of your relationships. Are you weak, average, or strong on each of these ten points? Better yet, rate yourself and then ask these same questions to your client. Then, compare the answers. Through quality communication and thoughtful Power Questions, you can strengthen your client relationships and add value to them at the same time.

Source: Andrew Sobel is the most widely published author in the world on client loyalty and the capabilities required to build trusted business relationships.

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