CHANGING THE WAY CLIENTS THINK OF YOU

Changing the way clients think of you

 

 

How do your clients perceive you? Do they still see you as the person who completes their tax return and sends them on their way until the following year? With the industry dramatically changing, you should no longer be seen as just the number cruncher, but as an advisory partner with the ability to add enormous value.

The accounting profession is taking a step out of its comfort zone, through new technology and the delivery of new services that adds value to clients. And with this change comes enormous opportunity.

 

The technology shift

Technology is reshaping the world constantly, and the accounting industry is no different. Automation of tax services is growing at a huge rate year on year, and ‘do it yourself’ SMSF services are becoming commonplace within the industry.

This, paired with the rise in cloud based accounting including accounts preparation and bookkeeping software, has accounting firms rethinking their role. But all of this is actually good news for you. Streamlining these typical compliance type services means the money your clients save from software automation can be spent on higher value add services.

 

The advisory shift

Competition is no longer just coming from other accountancy firms, but from consultants, professional services firms and the internet – the question is, how do you continue to grow, diversify and maintain your client relationships?

It’s important to shift your focus to higher value add services. Becoming the client’s first point of contact for business concerns ensures trust, relationship longevity and allows you to use your full skill set – business knowledge and soft skills – to enhance your client proposition.

Switched-on accountants are incorporating services that provide the insight and business coaching components that no automation software can replace.

Understanding your clients' needs

Just like with family and friends, each client is different. They have different motivations and their needs are unique. In order to shape your clients’ perception of what they need from you, get to know them. Find out more about their hobbies and interests and know their business inside out.

This knowledge will allow you to understand their business and personal needs, and help to develop deeper relationships. Once this trust is built, your clients will see you as an integral part of their advisory team.

Changing perceptions

Research by Investment Trends in 2014 indicates that of the 26% of clients who left their accountant, the main reason for doing so was they did not believe their accountant could offer all the services they wanted.

What this shows is that clients are already changing their perceptions of what they want their accountant to be. So you need to ask yourself, what will you be to your clients?

 

Things you should know: Count used reasonable efforts to ensure the commentary in this blog was accurate and true at the time that it was posted, but Count is not liable for any errors or omissions in the commentary. Since the time of posting it is possible that regulatory requirements and laws upon which the commentary were based have changed and the content is outdated. The commentary provided in this blog is informational only and while care was taken in the preparation of this blog, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on this blog. Any commentary regarding past economic performance is no indication of future performance and should be used as a general guide only.

 

 

 

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