Strategic account management for agencies

 

 

Here's what separates growing agencies from stagnant ones: they know exactly where their next million is coming from. Not "we'll find more clients" or "we'll target new sectors". They can point to specific accounts and say "Client A will give us £200k more, Client B another £150k, and here's precisely how we'll get it."

Smart agencies understand it's far more cost-effective to grow existing relationships than chase new ones. They already know you deliver. They've got budgets allocated for agency work. They trust your team. Yet most agencies treat client relationships like houseplants - water them occasionally and hope they don't die.

The reality? That client paying you £50k could easily be worth £200k if you knew which departments weren't talking to each other, whose budgets refresh in April, and who's been quietly frustrated with their current digital agency for six months.

Your current client base is your most valuable asset and your biggest growth opportunity. The question is whether you're treating it that way.

What strategic account management actually means

Strategic account management isn't your standard "let's catch up over coffee" approach to client management. It's a systematic roadmap that outlines exactly how your agency will grow specific client relationships.

But more fundamentally, strategic account management isn't about squeezing more from existing clients or working harder with current relationships. It's about working smarter. It's the difference between being grateful for whatever work comes your way and actively uncovering the opportunities that already exist.

Think of strategic account planning as your client GPS: it tells you where you are now, where you want to go, and the exact route to get there. When done properly, this transforms you from a reactive service provider into a proactive growth partner.

There are dozens of planning frameworks out there, but SOSTAC works brilliantly for agency account planning because it stops you from jumping straight to tactics without understanding the full picture.

Here's how to apply it to individual agency-client relationships:

• Situation analysis: Where are we now with client A?
• Objectives: Where do we want to be with client A? (specific, measurable targets)
• Strategies: How do we get there? 
• Tactics: What do we need to do exactly?
• Action: What is our plan? (who does what, when)
• Control: How do we measure success?

 

 

This isn't a one-off exercise. You'll cycle through this process regularly as your clients and agency evolve.

 

The client audit: which accounts to focus on

You can't grow every client relationship. Some aren't worth the effort, others have limited potential, and a precious few are genuine growth goldmines. Here's how to sort them out.

The three-factor analysis

1. Current value: Revenue vs Profit. If a client generates high revenue but low profit, you've likely got an over-servicing problem. That's not necessarily a bad thing; it means there's room for improvement.
2. Service gap analysis: What aren't they buying? This is your easiest route to organic growth. Try this exercise: create a simple matrix with your clients down one side and all your services across the top. Rate each service against each client on a scale of 1-10, based on how much they currently use it. The low scores are your opportunities. If a client rates 2/10 for social media but 9/10 for PR, there's your opening.
3. Future potential: Is there room to grow? Is there more budget available? Are there contacts you're not speaking to? How many divisions exist that you don't work with Example: They have six people in marketing, but you only work with five. What about number six? They have ten divisions, you're in four. How do you crack the other six?

The human factor (often more important than numbers)

Spreadsheets don't tell you everything. Consider these qualitative factors:

• Do they actually value your expertise? Or do they constantly suggest they could do it themselves "if they had time"?
• Do the team enjoy working with them? If your team groans when their name comes up, that relationship is poisoning your culture. 
• Do they pay on time? Chasing late payments destroys cash flow. It's also a red flag for how they value your work.
• Do they pay for scope creep? If you're constantly doing "quick extras" for free, they're training you to devalue your own work.
• Do they champion your work? Great clients refer you to others and happily act as case studies. If they won't even let you mention their name, they're not really fans.

A client might look brilliant on paper, but if working with them makes your life miserable, growing that client might be the worst thing you could do. Sometimes the most profitable thing you can do is walk away.

The three-tier account strategy

Once you've audited your client base, sort each account into one of three categories:

1. Grow: Your investment priorities. These are profitable clients with clear expansion potential. They get the lion's share of your strategic attention and resource investment.
2. Maintain: Your steady earners. Profitable clients with limited growth potential. Keep them happy, deliver excellent work, but don't over-invest in expansion efforts.
3. Improve or Exit: Your problem clients. These either need serious profitability improvements or should be shown the door. More on handling these later.

 

How to grow your best accounts

Establish regular strategic touchpoints

Here's a sobering statistic: the average time since clients last saw credentials from their incumbent agency is 2.3 years. If that sounds familiar, you're not managing the relationship, you're just fulfilling orders.

Set up scheduled strategic sessions (monthly or quarterly) to:

• Review past performance and results
• Discuss upcoming challenges and opportunities
• Share new capabilities and case studies
• Plan future campaigns and projects

These aren't project meetings, they're relationship investment sessions.

Become genuinely useful

Look for ways to participate in their business beyond your core services:

• Offer to run internal workshops
• Provide training for their team
• Contribute to their strategic planning sessions
• Share your expertise at their industry events

The goal is to become so valuable they can't imagine working without you.

Conduct proactive service audits

Remember that service matrix? Use it to systematically identify gaps where your other services could add value. Don't wait for clients to ask, anticipate their needs.

The key word here is "proactive." Reactive agencies wait for briefs. Strategic agencies create opportunities.

Transform from supplier to strategic partner

Stop being the agency that just fulfils requests. Start being the one who brings solutions to problems your client didn't even know they had.

Offer valuable insights like:

• Industry trend analysis
• Competitor benchmarking
• Consumer behaviour insights
• Market opportunity identification

Provide this intelligence before they ask for it. That's what separates order-takers from strategic partners.

Map the organisational maze

Most agencies only speak to their immediate contacts. Smart agencies map the entire organisational structure to identify:

• Decision makers they're not currently speaking to
• Departments that could use their services
• Budget holders who might have separate budgets
• Influencers who could open doors

Then, systematically work to expand your contact network. Ask your current contacts for introductions. Request to present to other teams. Get invited to their internal meetings.

Create action plans that actually happen

After every strategic conversation, document:

• Specific next steps with clear owners
• Realistic timelines
• Resource requirements
• Success metrics

Then, and this is crucial, actually follow through. Update clients regularly on progress and emphasise both current achievements and future potential.

 

Maintaining profitable accounts

Not every client needs to be a growth story. Some relationships are perfectly profitable as they are, and you don't need to mess with a good thing by over-investing in expansion. 

Be above expectations, but never work for free. This is the golden rule of maintenance accounts. Exceed what's expected within the agreed scope, but protect your boundaries when it comes to additional work. This approach maintains profitability without burning out your team or devaluing your work.

For maintenance accounts, focus on the three pillars of client retention:

The trust equation: (Credibility + Reliability + Intimacy) / Self-Orientation

Credibility comes from great work. When clients see consistently excellent results, they trust your professional judgment and recommendations.

Reliability comes from great service. Being responsive, meeting deadlines, and solving problems quickly shows you're dependable when it matters.

Intimacy comes from great relationships. This means honest, frank communication where clients feel comfortable sharing challenges and opportunities.

Low self-orientation is the multiplier. The less clients feel you're pushing your own agenda (more billings, bigger projects) and the more they believe you genuinely care about their success, the stronger the trust becomes.

Master the art of timing

Study their past spending habits to understand budget cycles, seasonal patterns, and decision-making timelines. Then ask for work when they're most likely to have budget available.

Stay connected (But don't overdo it)

Regular check-ins and reviews keep you informed of changing priorities without overwhelming busy clients. Monthly or quarterly touchpoints work well for most maintenance accounts.

Share performance data from campaigns and projects. Clients love seeing concrete evidence of value, especially when budget renewal time comes around.

Provide feedback both ways. Ask how you're performing and what could improve, but also share insights about their market or competitors.

 

Fixing unprofitable accounts

Some client relationships are haemorrhaging money. Here's how to stop the bleeding.

Implement proper agency project management processes

Develop detailed estimates that factor in all potential costs and hidden time. Look at historical data from similar projects and add realistic buffers for unexpected issues. If you're consistently under-pricing, you're not being generous, you're being irresponsible to your business and team.

Monitor budgets in real-time using project tracking tools.

Practice radical transparency about:

• Clear project scope boundaries
• Project progress and challenges
• Real costs and timelines
• Scope changes and their implications

Review your pricing strategy

Audit your rates regularly against:

• Current market standards
• The genuine value you provide
• Concrete evidence of results achieved

Price increases are much easier to justify when you have proof of success.

Offer tiered service levels that give clients a choice between basic and premium options. This often encourages higher investment while protecting your margins.

Learn from every project

Hold formal post-project reviews covering: what delivered the best results? Where could processes be improved? What could you do differently next time? Use these insights to refine your approach for future projects.

Know when to say no

Sometimes, protecting your agency's resources and team wellbeing means declining projects that don't meet your criteria for:

• Profitability thresholds
• Strategic fit with your strengths
• Quality standards you're comfortable with

Set clear acceptance criteria and communicate them transparently.

 

The art of firing a difficult client

Sometimes, despite your best efforts, a client relationship becomes toxic. Here's how to end it professionally:

Give them one final opportunity

Be direct about the issues:

• Explain they're not meeting minimum profitability requirements
• Give them a chance to improve the situation
• Check your contractual obligations first

Have the conversation properly

• Meet face-to-face or speak by phone - email is too impersonal
• Be honest but respectful about the reasons
• Focus on the business relationship, not personal failings

Document everything

Send a follow-up email that:

• Summarise what was discussed
• Outlines clear next steps
• Suggest alternative agencies if possible
• Makes the transition as smooth as possible

How you end relationships affects your industry reputation, so handle it with class.

 

Making your account plans actually work

Creating account plans is easy. Executing them is where most agencies fail spectacularly. Here's how to ensure yours actually happen:

Use visual management systems

Implement project management tools like client Kanban boards to:

• Track key objectives and actions
• Assign clear ownership
• Monitor completion status
• Identify bottlenecks quickly

Track against your targets

You've set specific targets, now measure against them:

• Monthly client revenue (or profit) vs targets
• Service adoption rates
• Contact network expansion
• Profitability improvements

Schedule regular strategic reviews

Account directors should regularly review progress with their teams:

• Are we hitting our targets?
• What's working well?
• What needs adjusting?
• Are we on track for our annual goals?

Measure your investment

Track time spent on account development activities. This helps you understand the true cost of growth efforts and optimise your approach.

Create dedicated job codes for account development work so you can see exactly how much investment each account requires.

 

Who owns strategic account management in agencies?

Most agencies muddle the roles here, which kills effective account planning. Here's how it should work:

Account Managers: The Intelligence Gatherers

• Build deep, day-to-day relationships
• Understand client needs and challenges
• Spot opportunities and threats early
• Feed insights up to account directors

Account Directors: The Strategic Architects

• Develop the strategic account plan
• Direct the overall relationship strategy
• Focus on long-term growth opportunities
• Make senior-level connections within client organisations

The account manager is your eyes and ears on the ground. The account director is your strategic brain. Both are essential, but they need clearly defined roles to avoid stepping on each other's toes.

Getting your team aligned on account strategy

Your brilliant account plan is worthless if your team doesn't know about it or buy into it. Share your plans with:

• Senior leadership. Each account plan should align with broader agency objectives. Leadership needs visibility of your plans.
• Account management teams. They're executing the relationship strategy daily. They need to understand the thinking behind their actions and spot opportunities that support the plan.
• The wider team. Everyone should understand account priorities and approaches. This improves morale and ensures people not directly involved are still looking out for opportunities.

Three rules for successful strategic account planning

1. Start with data, not assumptions

You can't plan strategically without understanding your current position. Analyse:

• Which accounts are genuinely profitable using client profitability analysis
• Where you're over-servicing
• Which services are underutilised
• Who you're not speaking to within client organisations

Gut feelings are useful, but data-driven decisions win every time.

2. Share everything with your team

Strategic account planning only works if everyone's aligned:

• Ensure every team member understands their role
• Share progress metrics as they develop
• Celebrate successes together
• Adjust plans based on team insights

Transparency builds buy-in and improves execution.

3. Keep your ambitions realistic

Unrealistic growth targets don't inspire, they demoralise. Base your account growth projections on:

• Genuine analysis of client potential
• Historical performance data
• Available resources and capacity
• Market conditions and client budget realities

Ambitious is good. Fantasy is destructive.

 

The bottom line on strategic account management

The difference between hoping for agency growth and engineering it comes down to one thing: proper strategic account management. It transforms reactive client management into systematic revenue development.

Start with your best clients, focus on genuine opportunities, and execute with discipline. Your account plans will become your most reliable route to sustainable agency growth.