Best Strategies for Accountants to Build Stronger Client Relationships
Though accounting may not immediately come to mind when considering relationship-building strategies, its relevance cannot be denied in today's competitive landscape. Loyal clients are the backbone of success for any accountant, so how do you transition from number cruncher to client confidante?
Don't fret: here are some successful relationship-building techniques you can implement right now to turn you into a relationship-building pro!
Importance of Strong Relationships with Clients
Growing Revenue and Retention: Happy clients tend to become loyal ones. When clients feel appreciated, understood, and confident in your expertise, they're more likely to stay with your practice over the long haul.
Word-of-Mouth Marketing on Autopilot: Satisfied clients can be your most potent form of word-of-mouth promotion. Their positive recommendations quickly make an impression in local circles. Just imagine having happy clients actively refer you to their networks! That’s pure gold!
From Number Cruncher to Trusted Advisor: Building strong relationships allows you to go beyond simple tax preparation and bookkeeping services and become a valued adviser, providing valuable insights and proactive solutions. In doing so, this role strengthens your value proposition while potentially opening doors to higher-paying services.
Reduce Stress and Enjoy More Success: Dealing with frustrated or confused clients can be taxing, while strong relationships foster clear communication and understanding. Dialing in your operations creates smoother workflows and reduces stress for everyone involved. Now, you can focus on doing what you do best: helping businesses thrive, and with more time and energy to enjoy your other priorities.
Building the Ideal Team: Engaged employees are more productive and deliver exceptional service, drawing in top talent who share your core values - creating an ongoing cycle that benefits both clients and the rest of your team alike.
Keep this in mind, as building strong client relationships takes time and will not happen overnight. By prioritizing communication, personalization, technology, and trust-building strategies within your practice, you will quickly begin building relationships that will make your practice thrive. Here’s how!
5 Strategies to Build Stronger Relationships - Be a Pro Accountant!
1. Communication Is of Utmost Importance
Think about it! How do you feel when someone leaves you hanging with unanswered questions? Not great, right? The same goes for your clients.
Be Responsive: Respond to calls and emails as soon as possible. Even a quick "thanks for reaching out; I'll get back to you by EOD" shows you care and are on top of things.
Speak their Language: Avoid complicated terms and jargon. Explain things in a way your clients can understand, focusing on the "what it means for you" aspect. Struggle with this?
Find their Communication Style: Some clients prefer detailed reports, while others just want the bottom line. Be sure to tailor your communication to their needs.
Pro Tip:Try running your communications through an AI like ChatGPT and ask it to revise it to a 3rd-grade reading level. And be sure to check out our AI guide for other useful prompts and strategies.
2. Personalization: A Client-Centric Approach
One-size-fits-all strategies don't work when it comes to client relations; each business owner's needs and goals vary significantly. Take the time to get to know your clients by learning more about what keeps them awake at night or their long-term aspirations. Whether risk aversion is paramount for them? Do they prioritize stability over calculated risks that are of equal concern?
Customize your services and advice specifically for them - showing that you care and don't just see them as another number on a spreadsheet!
Pro Tip:Balance the time required to customize things by focusing on specific client types and services that are relatively standardized so that you can templatize things and minimize the net new customization needed.
3. Technology and Efficiency
No one likes spending hours searching for receipts and grappling with outdated software, so use technology to streamline processes and spend your time building relationships! Consider cloud-based accounting platforms (which provide secure data storage with 24/7 accessibility so your clients have peace of mind they can access their financial info anytime, from anywhere) that enable easy collaboration and real-time information access.
Not only will this save both you and your client valuable time, but it'll also show your commitment to using cutting-edge tools!
Pro Tip:Check out our guide to find the best solutions
4. Proactive Problem-Solving and Trusted Advisor Role
Do not wait for tax season to approach. Become your client's financial strategist instead, rather than their tax preparer. Be proactive about identifying potential issues and offering solutions before they become serious problems. Maybe there is a new regulation impacting their business? Inform them promptly of its existence while giving guidance on how best to adapt. This proactive approach positions you as someone they can rely on - someone looking out for their best interests!
Pro Tip:Start implementing operational changes and improvements ahead of time so they are working and fine-tuned. If you wait till deadlines are approaching it’s likely too late already.
5. Building Trust Through Transparency and Appreciation
Transparency is key. Be upfront with your fees and explain your billing structure clearly. If a project needs additional work, communicate it as early as possible so there are no unpleasant surprises.
Never underestimate the power of appreciation! A simple thank-you or handwritten note showing them you value their relationship can go a long way towards showing how important they are beyond being just another paycheck source.
Pro Tip:There are even services where you can automate things like sending notes, small gifts, etc. Or you can even just add the birthday of your primary point of contact (or other special date) to your calendar to remind you to send something.
Don't Forget (Final Tips!)
Remember the extra touches when building client relationships! Here are a few additional suggestions:
First and foremost, shake off that stuffy accountant persona! Engage your clients and take the time to get to know them. If that’s a challenge try building a cheat sheet of common questions you can ask, and take notes!
By getting to know your clients and building genuine relationships you foster stronger connections and goodwill for those inevitable times when things don’t go perfectly. Schedule regular check-ins to review statuses, timelines, update goals, and address concerns. Hosting educational webinars or social gatherings can help foster a strong community-like feel while demonstrating your expertise.
Take time to call out and celebrate wins. Far too often we’re too busy moving on to the next thing. If you don’t call it out specifically it is unlikely the client will recognize it or give you the credit you deserve.
Even if a lot of these things don’t come naturally they are critical for your success. So if they are a struggle take the time to create and standardize processes to force you to do them. Over time they will become second nature and you may even find you enjoy them.
And if you’re already the rare gregarious extroverted accountant or bookkeeper you probably should have stopped reading a long time ago cause you’re already doing most of this!
