Key or Not Key? How to Maximize Client Value by focusing on KEY clients

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Many companies meticulously track their assets down to staplers and office supplies, yet they often overlook client tracking and analysis. Knowing your clients and identifying the 20% that bring you 80% of your revenue (think Pareto principle) is essential. At Task Force, an LSP ranked among the top 5 fastest-growing in the world in 2024 by CSA Research, we believe stable growth is achieved by focusing efforts on:

•    Identifying
•    Retaining
•    Developing

key clients specifically.

In Ukraine, we stopped serving individual and small corporate clients to concentrate exclusively on high-potential B2B clients with significant "wallet capacity" (an estimate of the value of services they could procure across all language vendors). We found that our managers spend roughly the same amount of time processing orders for different clients, yet key clients bring higher average order values and, most importantly, have larger wallet capacities.

Six years ago, we have defined our key clients as:

•    Companies capable of bringing a certain level of revenue (wallet capacity considering our share, which we aim to grow by enhancing their loyalty).
•    Companies with strong, well-known brands that boost our marketing efforts, even if their financial contribution is modest.
•    Companies that advance us in strategic competencies (target market, target product, process efficiency, automation), as their demands drive us to build expertise in key areas, offering relevant solutions to other clients of interest.

We believe every LSP aiming for growth should segment its clients, identify key ones (based on criteria tailored to them), and build on those relationships.

For example, at Task Force, we’ve classified our key clients into several tiers based on revenue and wallet capacity, identified target customer segments (industries where we have expertise and those we aim to specialize in), and developed a loyalty matrix for key clients.

Each key client enjoys added benefits in working with us, like extended working hours from managers, holiday greetings, discounts, or exclusive events – there are many possibilities!

Additionally, we assign each key client a dedicated key account manager. These managers are tasked with thoroughly understanding their clients. Try creating a client profile with information on various decision-makers, needs of other departments, and company history – you’ll uncover valuable insights. At the end of each profile, we define goals (integration level; wallet share) and action plans for the next few months. This proactive engagement means your managers stay top-of-mind with clients, learning about their projects and ideas first and securing repeated business.

Proactivity of the managers is indeed crucial. Often, the company that wins an order isn’t the largest, cheapest, or even the best, but the one that’s timely in reaching out, with their email at the top of the client’s inbox. Stay informed about the client’s news and use it as an opportunity to connect. “Do you need translations this quarter?” is less compelling than a targeted approach: “We noticed your upcoming deal in South America – could we support you there as your linguists?”

It’s also worth considering how you acquire key clients. Do they approach you with large orders immediately? It would be great, but rarely happens in the real world. It might be beneficial to create an “incubator” for clients and potential clients you’d like to develop / target, making a list and drafting action plans to increase your chances. There’s no need to wait for the “perfect client”; you can cultivate them by learning about their needs, building relationships, and growing your service share in their purchases.

At Task Force, we believe this sales approach—focused on key clients and prospects—delivers the best results, helping build your expertise and generate intentional demand for your products or services. Welcome to a new sales reality, where you are the expert working with your dream clients!

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