Providing an exceptional client experience

BY JON HUBBARD

Every firm wants to ensure its clients feel valued and cared for. But how do you go about achieving it? Often, clients will have very different experiences when working with different departments in the firm or from person to person. Today, we’ll explore what it takes to deliver an exceptional client experience consistently and offer some tips on how you can get started.

Why Client Experience Matters

Client experience is vital for any firm because it can make or break client relationships. That’s always been true, but there are several reasons it’s at the forefront today.

First, most firms today are working on evolving their business models to move up the continuum of value. In addition to traditional accounting, tax, and audit services, they offer a diverse mix of advisory and consulting services. Five years ago, a tax client might be with the firm for decades and only dealt with one or two people in the firm. Today, clients engage the firm for a package of services, and those services are delivered by teams rather than individuals. Thus, the client experience must be seamless from one department to another.

Second, our perception of value has changed. Firm leaders used to believe that technical skill was paramount—clients valued a correct tax return, great tax planning strategy, or an efficient and well-run audit. Those technical skills are still critical, but value isn’t based on technical skills. From a client’s point of view, value is primarily based on emotion—what their experience is like when working with your firm.

Finally, client experience is an essential component of retaining good employees. High-performing individuals want to work in high-performing organizations. When great people don’t see the firm winning and keeping business, they leave.

So, when you focus on providing an exceptional client experience, you’ll realize the following benefits:

• Spending more time working at their highest and best use

• More right-fit clients

• Spending less time on low-value activities

• All services become more valuable

• Client service takes a team approach rather than an individual approach

• Improved client retention and growth

• New services created organically

• Premium pricing

• Quicker bill collection

• Increased referrals

CLIENT SERVICE VS. CLIENT EXPERIENCE

Many people use the terms client service and client experience interchangeably. While client service is a component of the client experience, they’re not the same. Client service is short-term. It involves resolving an issue or responding to a client’s needs. Client experience, on the other hand, is long-term. It’s about creating a lasting impression and having a coordinated, proactive approach to identifying opportunities.

How To Provide An Exceptional Client Experience

To provide an exceptional client experience, you must first understand the current client experience. This means taking the time to think through every touch point a client has with your firm. Some questions to help you get started include:

• What actions does the client need to take to begin working with you?

• Who is involved in delivering client service?

• What technologies are used?

• What is the client’s mind-set when working with you?

• What are the client’s pain points?

• What value does the firm currently provide?

• How do you know when the client is ready to move to the next phase?

Once you have a good understanding of the current client experience, you can start making changes. One good way to identify potential improvements is to consider where you prioritize being efficient over being effective. For example, an employee might send an e-mail rather than have a tough conversation with a client face-to-face.