Our research indicates a client will leave an Accountant for either ‘Service’ or ‘Services.’ They are either unhappy with the customer service (speed of communication, turnaround time, etc) or with the services they are buying or not buying from you. Under the services banner it includes value for money, pricing, mistakes or something else they think they need but are not getting.
We asked the 428 business owners ‘if you had to choose one thing, what should your Accountant do?’ We gave them 5 possible answers.
- Do more marketing
- Lift your service levels
- Be more transparent with your pricing
- Focus more on the future rather than the past
- Offer more services that help me improve my business.
If we bunch no. 2 & 3 together (service levels and pricing) then we get 31%. I am going to call those the ‘Service’ answers. If we bunch 3 & 4 together (better advice and valuable services) we get 61%. This would be the ‘Services’ answers. A staggering 92% said that they want more from you and they want to improve your customer service.
The business community has spoken loud and clear. Your clients want more help, more communication and better customer service. I know you’re busy (doing compliance) and that can no longer be an excuse. We’re all busy and time allocation is a priority not a resource. You must get a systematic program in place for contacting your clients. You must offer more services that really help your clients’ financial condition.
You have financial intimacy right now with your clients. That’s why they stay with you. You know things about them that very few people do. If you want to keep them then you need to increase the level of financial intimacy. You need to improve the customer service and you need to broaden your service offering. Since I started in this profession in 1994 I have been saying the same thing in many different ways. Be proactive and add value. If you don’t, someone else will.
You can get the full report on what else the 428 business owners said about their Accountants by clicking here.