You Should Focus On Clients To Increase Revenue
Contemporary accountants are struggling to pay enough attention to their clients in the digital age, which has seen much of the market’s focus turn towards digital software programs and innovative new technologies. For firm and accountants that hope to boost their revenue streams and make changes to remain viable in the market in the long-term, however, focusing on your clients remains the best way to guarantee your future.
These are the reasons accountants should be spending more time working directly with their clients, and how they can still keep their focus on their important clients amidst rapidly changing market conditions.
You need to be proactive with your clients
Many contemporary accountants sate themselves by putting out fires whenever they arise on behalf of their clients, but it’s a simple matter of fact that you need to take a proactive approach towards meeting the needs of your clients if you really want them to feel appreciated. While any well-trained accountant can serve as a steady hand at the wheel during times of major financial decision making, a constant focus on your clientele even during off-season periods can help impress them to the point where you can enjoy their continued business for years to come.
Keeping your focus on clients to boost your revenue streams is no small feat, however; accountants wanting to bring in a greater influx of cash will need to be prepared to pony up the additional manhours and tough thinking that will need to be done in order to succeed. First and foremost, you should work on establishing a deep and trusting relationship with your client, as doing so is likely to commit the both of you towards working together for some time.
You’ll want to engage your client at all times, rather than merely lurking in company shadows until they ring you up with a problem. A proactive approach includes engaging them face-to-face more often, too, which may necessitate more in-person visits. If you don’t make time for real face-to-face contact, you’re simply not giving your clients the attention they deserve, and they’ll soon notice. There’s nothing you should fear more when it comes to bolstering your revenue streams than potentially losing a client because they felt ignored and think they can get a better deal elsewhere.
Not everything has to be in-person, of course; thanks to the modern marvels of technology that are rapidly reshaping the accounting industry, you can also pay more and better attention to your clients by leveraging newfound innovations which make communication easier and cheaper, such as marketing material that is custom written for you. Digital meetings should be carried out regularly, and you should be leveraging modern tech to easily send every document towards your client that they need to see. Instantaneous service is expected these days, after all.
Winning over your client’s love
By relying on modern methods like a heavy social media presence to engage with your clients frequently and effortlessly, you’ll be winning over their love in no time. For the most part, many clients simply want to be heard; they probably came to you because their last tax or accounting professional didn’t pay them enough attention. If you’re failing to consistently engage them across multiple mediums, they’ll simply take their business elsewhere, which can spell a disaster for your revenue stream.
Putting a renewed focus on your clients can also help you renegotiate future contracts and arrangements at a higher rate, too, particularly if you’re significantly upping the number of hours you dedicate to them. While much of the industry is abuzz with chatter about automation and how much money it’s ultimately going to save accounting firms in the near-future, you can get rid of your revenue concerns more directly by bolstering the existing commitments that help keep your firm afloat.
Don’t let yourself fall into the old habit of thinking that just because no concerns have been raised by your clients, everything is alright. Many may be simmering if they’ve been ignored too long, and it’s vital to ensure that each of your firm’s client has a dedicated team member to guarantee their continued happiness. Spreading your accountants too thin is likely to result in angering many clients simultaneously, which can result in an epic disaster for your revenue figures.
By constantly keeping tabs on your clients through digital technologies and creating a more thorough schedule that includes many more in-person visits, you can engage them more heavily and potentially bolster future agreements to the benefit of your firm. Remember not to be overbearing when trying to help your clients, but understand that many are looking for a personal touch that considers their specific business needs, and won’t be happy with boilerplate accounting assistance. Keep your focus entirely on your clients, and you’ll see revenue increases in no time.
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Gary Eastwood is a CPA licensed senior accountant from Seattle, Washington. He received his CPA license from the Washington State Board of Accountancy in 2001 before relocating to Onawa, Iowa in 2008. Over more than 15 years of accounting experience, Gary has worked with multinational health service providers and independent CPA firms. He has a...