How to Boost Profits Up to 85%? Hint: The Answer Is Closer than You Think

by Jean Caragher and Rick Telberg
SevenKeys CPA

Looking specifically at the accounting profession, a five percent improvement in client retention can improve profits by 25 to 85 percent.

This kind of revenue growth adds directly to your bottom line.

What more compelling argument do you need to demonstrate the benefit of improving your firm’s ability to retain your clients?

Accountants already have a head start in client satisfaction. Accountants rank highest among all of the professions.

Further, if we add together those who are very satisfied and those who are somewhat satisfied, studies indicate that over 90 percent of accounting clients are satisfied with the service they receive.

Regardless of the level of client satisfaction in accounting clients, there are clear gaps between the thinking of accountants and their clients.

CPAs cannot afford to take the data as a justification for complacency.

No CPA firm can afford to take clients for granted – ever.

SevenKeys CPA studies conducted by The Bay Street Group and the Capstone Marketing Group illuminate several very significant gaps between the opinions of clients and their CPAs. These studies allow us to begin to understand what our clients really think.

For more about the Seven Keys to Successful CPA Firm Management, download the executive summary (PDF, 11 pages) at http://sevenkeyscpa.com/exec.

Copyright 2011 Seven Keys CPA. All rights reserved.

 

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A blog by Jean Caragher and Rick Telberg
New insights into the winning habits of high performing accounting firms from The SevenKeys to Successful CPA Firm Management.

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