As cloud technology, commoditisation of compliance and social change takes hold there will be an issue of client retention on the horizon. Most Accounting firms have very high client retention. I would argue that this is because of ‘financial intimacy’. You know things about your clients that very few do. Focusing on client retention is not just about retaining existing clients – it’s about getting new ones as well. Thrilled clients tend to refer more than those that are there ‘because the Accountant knows a few things about my past’ clients.

There are just 3 things to focus on when it comes to awesome client retention.

  1. Making a difference. Is your service(s) / product making a difference to the clients condition? So peace of mind, wealth, profit, cashflow, fuzzy feelings etc.
  2. Adding value. Are you and your team really adding value to the process? So explaining things, amazing service, doing something unique and inspiring etc.
  3. Usage of products / services. Is you client more than just 1 or 2 services from you? Making sure that EVERY client is buying every service they need that helps them achieve their goals. 

The diagram below puts into context. If you get 1 or 2 right you won’t get into the sweet spot of uber retention in the middle. You need to focus on all 3 all the time.