One of the most effective tools of business development, and consequent business expansion, is a diligent exercise in existing account mining. Understanding the geographic location spread of existing clients and exploring additional opportunities across these geographies can prove to be a potent source of business expansion. Strong and deep relationships with existing clients are a boon while mining for additional business opportunities.
In 2016, a global FM services provider wanted to undertake a similar exercise to assess the latent opportunities with existing clients in the private sector. Taking the list of its existing clients in energy sector as the starting point, a detailed analysis was conducted to cull out the potential opportunities. The assessment revolved around understanding the total number of facilities and floor area for each client across geographies and then looking at each one of them from a FM services standpoint. Each location was then analysed to see whether the company had outsourced its FM services to a third party and, if yes, the range of services outsourced. The broad level objective of this approach was to gauge the propensity and openness to outsource FM services amongst the clients. A detailed analysis of FM contracts outsourced by these clients was prepared, capturing the range of services outsourced, the duration of the contract, the service provider, contract values as well as the client-provider relationship. This matrix helped in understanding the specific clients that had the highest propensity to outsource FM services and the ones where efforts should be focused to create a point of entry into such additional services.