Why Accounting Firms Need to Build Strong Customer Relationships

Blog2 Jan27

Why Accounting Firms Need to Build Strong Customer Relationships

A customer’s feedback can make or break any business, including accounting franchises. One bad customer experience can damage a firm’s reputation. Given how competitive the accounting industry is, it is important to maintain the highest level of customer service to survive.Building strong relationships with customers is crucial and client satisfaction should go beyond providing accounting services. Customer loyalty is as important as earning revenue because customers are the main source of revenue.

Top Reasons Why Clients Are Dissatisfied

Client retention is a common challenge for most accounting firms. One of the main reasons why customers choose to leave is the lack of customer service. Even loyal patrons will be turned off if they feel that they are being underserved by their firm.

Here are some of the top reasons why clients are dissatisfied:

  • Accounting staff’s failure to deliver basic services
  • Lack of updates or guidance from their accountants
  • Staff assuming that clients are familiar with the accounting process
  • A feeling of being ignored or not valued in terms of their time or accounting needs

Customer satisfaction should always be the priority, and delivering quality service is always expected from tax franchises and accounting firms. Failure to address the above-mentioned reasons may result in losing more customers and business revenue.

Key Points in Building Better Relationships with Customers

Relationships take time to build and establishing good working relationships with clients is crucial. Here are some key points on how to establish better relationships with customers:

  • Practice active listening – Listening is a crucial skill in the accounting industry. Active listening will help an accountant understand what their client needs. It opens communication which leads to transparency between the two parties. Listening also shows respect which helps to strengthen relationships.
  • Share financial updates – Communication is vital in forging strong client relationships. Be consistent when giving updates about a client’s financial situation and give sound advice about their financial or business health. Good communication shows a genuine concern for the client.
  • Find out-of-the-box solutions – With every new client, comes a new set of challenges. Accountants need to adopt out-of-the-box solutions to effectively resolve their customers’ financial concerns. Being creative in solving problems will win a client’s trust.
  • Honesty and integrity – The foundations of a reputable tax franchise/accounting firm lie in the values of honesty and integrity. The best accountants pride themselves in valuing their clients’ trust and being honest with them. Having high ethical standards helps accountants earn their clients’ unwavering trust.

Building better client relationships lead to effective word-of-mouth recommendations from satisfied customers. The superior treatment they’ve experienced will help attract positive business leads.

At Tax Store, we value our clients and have a passion to provide a superior customer experience for our clients while providing them with the financial, accounting, and tax services to meet their unique needs.

Interested in being part of the Tax Store network? Learn more by Booking a Spot today or call us at 1300 367 594.

Our Management Credentials