Learn how to win their business and earn their loyalty.

© Copyright 2015 Inavero, Inc. All Rights Reserved. Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.

Your clients

have spoken!

Your Clients Have Spoken!

Table of ContentsYour Clients Are Your Best Sales Strategy

Steps for Generating More Client Referrals

How to Maximize the Impact of Testimonials

Client Service Strategies That Drive Growth

Do You Know How Happy Your Clients Are?

About Inavero

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INAVERO GUIDE FOR ACCOUNTING

Inavero surveyed over 300 accounting �rm clients to learn about their experiences and expectations of what makes a good accounting �rm partner. The results from the study revealed the primary reasons your clients buy from you and how they �nd their perfect accounting �rm.

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Your Clients Are YourBest Sales Strategy

YOUR CLIENTS HAVE SPOKEN

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Only 2% of prospective accounting clients trust your marketing and advertising messages when deciding whether or not to work with your �rm. We found that prospective clients prefer to seek information from your current clients or ask their friends and colleagues.

If traditional marketing is no longer e�ective, how do you break through with your story? The answer is that you don’t. Instead, encourage and inspire the story of your �rm’s unique value through those who are credible; your existing clients. Ninety-four percent of your clients trust a referral from a friend or colleague and over half trust testimonials from your current clients.

Resources clients trust when gathering information on an accounting �rm they may hire:

0% 20% 40% 60% 80% 100%

94%

57%

32%

27%

22%

17%

9%

2%

A referral from a friend or colleague

Testimonials from their current clients

Third party awards (Best Places to Work, Best of Accounting, etc.)

A�liation with respected trade organizations

User-generated online reviews (Yelp, glassdoor.com, etc.)

The �rm’s website

The �rm’s employees

Marketing or advertising about the �rm

What others say about your �rm

What you say about your �rm

Steps For GeneratingMore Client Referrals

YOUR CLIENTS HAVE SPOKEN

0% 20% 40% 60%

30%

36%

50%Referral from family, friends,

or colleagues

Referral from other trusted service provider

They have a strong reputation in my marketplace

Top 3 resources that influence a company’sdecision to partner with your accounting �rm:

Professional service �rms have long understood the value of referrals, yet for many, they represent a bit of an enigma. The following three points identify how to pro-actively grow referrals for your �rm.1. Ask for it. Sounds obvious, but Inavero research found that only 10% of accounting �rm

clients have been asked if they have any referrals for the �rm they work with.

2. Pay it forward. Refer new business to your �rm’s clients. Those who receive new business

referrals from their accounting �rm are twice as likely to suggest their �rm to a colleague.

3. Make it easy for your clients to tell your story.

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YOUR CLIENTS HAVE SPOKEN

What causes a testimonial to be influential?

0% 20% 40% 60% 80%

70%

56%

53%

45%

44%

11%

Shared by someone in my industry

Addresses an issue important to me

Shared by a highly regarded company

Quality of the other testimonials

Covers a topic I am currently dealing with

The number of testimonials a �rm has

How to Maximize the Impact of TestimonialsTestimonials are o�en easier to produce than referrals. However, Inavero research found that just 4% of clients have been asked to provide a testimonial for their primary accounting �rm. When deciding which �rm to partner with, over half of prospective clients say they use testimonials to help narrow their search, proving the importance of testimonials for business growth.

To streamline the process of tracking down client testimonials, ask only your most loyal clients. It is easiest to incorporate the testimonial capture into an existing program, such as a survey or other wide-scale outreach initiative.

Once you’ve built a library of testimonials, think strategically about how to leverage them. Industry-speci�c testimonials are most influential, though testimonials that speci�cally focus on issues relevant to a prospective client can be uniquely e�ective in persuading them to consider your �rm.

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YOUR CLIENTS HAVE SPOKEN

Client Service StrategiesThat Drive GrowthMap out your �rm’s client life-cycle and ask yourself these two questions: What are the most painful parts of our process for our clients and what can we do within our process to make a client’s day a little brighter? Once you have your answers, turn them into repeatable actions.

One example is the delivery of tax returns. This is a key moment for clients, o�en accompanied by apprehension, and at times unpleasant �nancial surprises. These commonly stressful moments are the perfect opportunity to make your �rm shine. Build into your process the expectation that your �rm delivers a coupon for a free lunch at a local restaurant and sends a message expressing empathy to the stress inherent to this time of year. Simple, inexpensive, and repeatable.

Client Service Strategies to Build Into Your Process

Always respond to calls and emails in a timely manner. Clients who are at risk of leaving their primary accounting �rm say they are twice as likely to have experienced an unreturned call or email. However, two thirds of clients who report calls and emails are always returned say they plan to refer their �rm in the next six months.

Anticipate and communicate budget overages. Clients site budget overages as one of the largest mistakes an accounting �rm can make. Although this may be unavoidable at times, your client will be more understanding if you’re proactive in your approach and communicate anticipated issues.

Consistently meet deadlines and avoid errors. Clients who are at risk of leaving their primary accounting �rm are three times more likely to have experienced a mistake and two times more likely to have experienced a missed deadline.

Show clients how much you’ve helped them save. Only 15% of accounting �rm clients report to have been shown how much money their �rmed helped them save. This presents a great opportunity to reinforce the value of your services.

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YOUR CLIENTS HAVE SPOKEN

Do You Know How HappyYour Clients Are?The key to growing your existing client-base starts with categorizing accounts based on their satisfaction with your �rm. A short online survey sent to your clients allows them to answer in their own time and prompts more honesty in their feedback. Once you collect responses, categorize them to get a clear picture of common trends and service issues that may need to be addressed. This process allows you to not only save accounts that may be at risk of leaving, but also identify clients who are perfect candidates to provide referrals or testimonials.

Executing an e�ective satisfaction survey doesn’t have to be complex. Adopt a simple yet action-oriented 3-question satisfaction survey using the popular Net Promoter Score® (NPS®) methodology. The average client satisfaction score for accounting �rms is 31%, shown in the graph below.

75%

31%

53%

11%

50%

25%

0%AccountingIndustry Overall Satisfaction

World class client satisfaction is 70% NPS

Lead-Contact’sSatisfactionwith Firm

Day-to-dayContact’sSatisfactionwith Firm

2015 Accounting Industry Client Satisfaction Benchmarks

YOUR CLIENTS HAVE SPOKEN

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About InaveroRooted in service quality research for accounting �rms, our proprietary online surveying so�ware leverages the Net Promoter® Score methodology to help you easily measure your client’s satisfaction. Additionally, you can capture testimonials to increase new business, discover how you stack up against your competitors, and earn an award for exceptional service quality.

Satisfaction Survey 101:Download Inavero’s guide to accounting �rm satisfaction surveys for free atwww.inavero.com/nps-guide

Notes for this Guide:Net Promoter Score®, NPS® and Net Promoter® are registered trademarks of Fred Reicheld, Satmetrix and Bain & Company. For more information, go to www.netpromoter.com.

© Copyright 2015 Inavero, Inc. All Rights Reserved. Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.