A strategic relationship - or just a long and costly one ?

By Linda Julian

When professionals talk with me about their "strategic client relationships", I'm sometimes struck that what they describe sounds more like a costly relationship, or merely a long one, or sometimes even an old and expensive one.  Earning strategic relationship status with your client is a privileged and valuable position. 

Use this checklist to see just how strategic is each relationship:

• Are you the "go to" firm ?
• Are you truly a trusted adviser ?
• Is your trusted adviser status well ahead of others ?
• Does your client invest in its relationship with you ?
• Does your client frequently ask you to go the extra mile and place high demands on you ?  
• Do they acknowledge this ?
• Are you always there when your client needs you and consistently deliver ?
• Do you share mutual goals with your client ?
• Is there genuine partnership dynamic to achieve objectives such as improving value from their investment in your services ?
• Is there measurable two-way benefit from relationship ?
• Do you really invest in the relationship ?

A genuinely strategic relationship is a valuable business and professional advantage and likely to be lucrative. 

Next week, how to achieve a strategic client relationship.