ABSTRACT
The business development function and culture are still relatively new to professional services firms but is growing in importance. The person responsible for business development then helps fee earners to retain and grow business with the Client. The level of commercialisation and business development varies as the more traditional firms take on a professional sales and marketing approach. A focused programme requires some form of strategic Client planning and a managed pipeline that shows the flow of opportunities from initial enquiry to conversion to business. Many professional services firms would admit that maintaining a Client relationship can be time-consuming, especially during periods of buying inactivity. Many potential Clients rely on internet searches about a firm's capabilities prior to making direct contact. The majority of Clients are assigned a fee-earning manager responsible for development. The practice of Strategic Client Management, when effective, can be a major source of business growth and also of competitive differentiation.
