One of the questions we hear from many firms is how frequently they should survey their clients. And while the idea of surveying more than once annually can be daunting, accounting client and buyer data suggests that a more frequent survey cadence can have significant benefits for your organization’s service quality. Our 2019 Accounting Industry Benchmark Study shows a tight correlation between survey frequency and NPS®. You can see from the chart below that client satisfaction levels for firms that survey clients just once per year versus accounting firms that survey clients end-of-matter are dramatically different. Click here to learn more about the Net Promoter® Score as a metric for client satisfaction >> Why is accounting firm NPS correlated with client survey frequency? Our accounting client satisfaction research suggests that the simple act of being asked for feedback improves your clients’ chances of being satisfied with your firm (81% say their perception is positively impacted when asked for feedback). Even more, 93% of accounting clients say it’s important to have an open channel of communication to provide feedback to their firm. In addition to simply pleasing your clients by inviting their feedback on your service delivery, regular surveys give your team a valuable opportunity to sniff out service issues, identify at-risk accounts, support client referrals, and add greater value by helping clients identify additional needs you can support. It’s worth noting that accounting clients indicate they are more comfortable with (and more likely to participate in) an online survey than a face-to-face interview (the more traditional feedback method in the accounting space): Year-over-year data shows that client satisfaction in the accounting industry needs improvement. Accounting client NPS slid from 31% in 2015 down to a low of 18% in 2017. And while it is recovering, with a score of 24% NPS in 2019, this data suggests accounting firms still struggle to meet (and exceed) clients’ service expectations. For context, the global NPS “average” score is 30% NPS. If that isn’t enough to light the NPS fire at your firm, our industry research shows your clients’ perception of your firm actually increases when asked for feedback. The bottom line… Neglecting to ask for consistent feedback from your clients can have a dramatic effect on client satisfaction, and can demonstrate a lack of commitment to service quality excellence. Contact the ClearlyRated team to learn how the ClearlyRated Net Promoter® survey program helps accounting firms leverage client satisfaction for growth – or check out more of our resources about NPS for accounting firms: NPS Benchmarks for accounting firms NPS 101 for accounting firms
