Some of the biggest risks to a key client or customer relationship are easy to miss. The work may be going well. Feedback is positive. There are no obvious problems. Yet beneath the surface, weaknesses may be brewing.

For example, the relationship may depend heavily on one or two people; the client’s priorities may have shifted; small frustrations may be accumulating; or competitors may be forging relationships elsewhere in the organisation.

These vulnerabilities can develop gradually and may not become apparent until they begin to affect the relationship. Taking time to review an important client relationship through a risk lens can help you identify:

1. where it may be exposed and
2. take action before those weaknesses pose a serious threat.

Here are five areas to examine.

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1.How dependent is the relationship on particular people?

A strong relationship with a client contact is valuable, but it can also mask a significant risk.

Consider what would happen if your principal contact left tomorrow. Who else understands your work, trusts your team and recognises your contribution? Equally, what would happen if the person in your business who knows the client best moved on?

It’s often helpful to map out:

• Who makes or approves purchasing decisions
• Who uses or benefits from your products or services
• Who influences decisions about working with your business
• Who understands the value you provide
• Who manages the day-to-day relationship
• Who holds important knowledge about the client within your own team

Having several client contacts doesn’t necessarily mean the relationship is well protected. If too much influence, trust or understanding rests with one or two people on either side, look for ways to broaden those connections and build greater recognition across both organisations.

2.Would the client recognise the full value you provide?

It is easy to assume that the contribution you make is clear to the client. It may not be as visible or widely understood as you think.

Your main contact may appreciate what you do, but could they explain your value to a new Finance Director, a procurement team or a Board member reviewing expenditure?

Think beyond the products or services you supply. Have you saved time, reduced risk, improved decisions, highlighted opportunities or solved difficult problems?

Then consider how widely that contribution is understood. Make it more visible by sharing outcomes, useful management information or insight, and ensuring relevant decision-makers understand your impact.

3.Has something changed that could alter the relationship?

Sometimes a client relationship becomes vulnerable not because you’ve done anything wrong, but because the circumstances around it have changed. Look out for developments such as:

• New senior leadership or ownership
• A change in business strategy
• Restructuring or cost reduction
• Acquisitions, mergers or expansion into new markets
• New procurement requirements
• Changes in regulation or technology
• Different expectations from the client’s own customers

Assess what these developments could mean. Could buying decisions involve different people? Might the client judge value differently, consolidate suppliers or need different expertise or support? The important question is not simply “What has changed?” but “What does this mean for our relationship and how should we adapt?”

4. What problems have you started to accept as normal?

Clients won’t always tell you when something isn’t working as well as it could. Small frustrations can build up over time, particularly when everyone has gradually learned to work around them. For example:

• Perhaps deadlines are regularly missed.
• Different members of your team provide an inconsistent experience.
• The client has to chase for information.
• Responsibilities, expectations or what is required or delivered aren’t always clear.
• Communication or handovers between teams could be better.
• A reporting or administrative process works better for your business than the client’s and creates unnecessary work for them.

Individually, these frustrations may seem minor. Collectively, they can make another provider more attractive. Review the relationship from the client’s perspective and ask colleagues what they’re noticing too. Prioritise the issues that matter most to the client, agree who will address them and check that the changes are making a difference.

5. How exposed are you to competitors?

You don’t need to treat every competitor as an imminent threat. But neither should you assume a long-standing relationship will protect you.

Consider what you know about the client’s other suppliers and where competitors may have a foothold:

• Where are they using competitors for related products or services?
• Does another provider have stronger relationships with key decision-makers?
• Is the client likely to review or retender any part of your business?
• Could a new decision-maker bring preferred suppliers with them?

Then evaluate what will genuinely prompt the client to change. For example, price, expertise, technology, responsiveness, geographic coverage, ease of working, or a better fit with future needs. Identify where you are most exposed and prioritise what you can do to strengthen your position.

Complete a 30-minute key relationship health check

Choose one strategically important client or customer and bring together the colleagues who know the relationship.

Spend 30 minutes reviewing these aspects:

• People: Are we too dependent on particular relationships on either side?
• Value: Is our contribution recognised by the people who influence buying decisions?
• Change: What has changed in the client’s business, market or priorities – and do we need to adapt?
• Friction: What could we make easier or better for the client?
• Competition: Where are we most exposed to other providers?

Identify the two or three vulnerabilities that matter most. Agree on one practical action for each, with a named owner and deadline.

Keep valuable relationships resilient

Reviewing your key client or customer relationships regularly can help you spot potential weaknesses early and decide where action will make the greatest difference to protect them. Build a short relationship health check into your regular business planning, so you revisit the risks and agreed actions as the client, your own business and the wider market evolve.

Extended Thinking helps B2B businesses protect and develop valuable client and customer relationships. We can help you identify where relationships may be vulnerable, prioritise what needs attention and put practical actions in place.

If you’d like help reviewing your key relationships and identifying where to focus, get in touch or call us on 01483 429111.