As the accounting profession continues to evolve, so do client expectations. It’s no longer just about delivering a quality service. Clients expect to work with their accounting professionals in a modern way—they expect an experience that is rich, convenient, and digitally driven. Heightened competition and the modernization of client needs is challenge accounting professionals to find new and innovative ways to stand out from their competitors while meeting the demands of today’s instant-access seeking clients.
According to Gartner Research, 89% of businesses today expect to compete mostly on client experience, versus only 36% four years ago. This is a dramatic shift. Understanding this, it becomes clear that to effectively compete on a playing field that continues to level out, mastering client experience is key.
“Customer experience is the last source of sustainable differentiation and the new competitive battleground.”
–Tiffani Bova, VP at Gartner
Before we proceed, however, it’s important to understand what customer experience means. There are plenty of definitions floating around, but the following is the truest representation:
Client Experience: How you meet clients’ needs at every point over the lifespan of the client-firm relationship.
“Every point” is not an exaggeration. This does indeed mean every interaction you have with a client over the lifetime of the relationship. This begins with initial contact (the point the client became aware of your firm) to the final communication. The fact is that today’s clients expect to develop and desire to have a relationship with the organizations they conduct business with. And if that relationship is to grow and prosper, it comes down to how all interactions make the client feel. If their experience is superior, you have a client for life. If it’s bad, you will most certainly lose out to a firm that has mastered the art of client experience.
So, what are clients looking for?
Personalization, convenience and a relationship. Gene Alvarez, Managing VP at Gartner stated, “Customers will not tolerate companies that have amnesia when it comes to remembering them and their preferences for recognition. This makes it imperative for companies to recognize their customers and to serve them pertinent content that demonstrates the proper recognition and treatment.”
Here’s what we know: Client experience is king and people are changing their buying habits based on it. So, how are you going to react? As you think through client experience in your firm, here are a few things to keep in mind:
Make every interaction with your clients personal.
Use client data to bolster their experience. Send a birthday or anniversary card; have their beverage of choice ready before they arrive for the next onsite meeting; learn their communication preferences and preferred name when you contact them. Going beyond expectations is key
Make clients aware of firm features that will make their lives easier, such as:
- On-demand appointment scheduling.
- The ability to contact the right person via the right method (this is not the same for every client, and some may want to connect in different ways given the situation).
- Automatic notifications when action is required (while also understanding the clients’ preferences on receiving alerts).
- Convenient, highly secure document and data sharing.
- The ability to pay for services online at any time and from any device.
Create a client experience that is convenient and predictable.
For some clients, this may mean eliminating travel time and meeting via video conference. For others, this may be as simple as being on time and prepared for onsite meetings. In delivering items, this could mean anything from offering the convenience of digital signature to curbside service.
To sum it all up neatly, get to know your clients and be aware of how interactions with your firm make them feel. Use this shift in buyer behavior to make your firm… not break your firm!
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