Why Clients are Lost
Posted on 06. Nov, 2005 by Jason Guthrie in Accounting
While perusing the world-wide web today I came across an article that outlined reasons clients leave their accountants accountants. This made me start to think of reasons why I would leave my accountant and I came up with the following list:
- Lack of initiative
- Their investment track record is worse than mine
- Lack of timely communication
- Personality doesn’t fit my needs
- Hire a friend
I also did a little poking around and found an interesting article on the AICPA website outlining a Rockefeller Corporation study of why clients are lost. The results are:
- Believes you don’t care 68%
- Is dissatisfied with service 14%
- Hires a competitor 9%
- Hires a friend to provide service 5%
- Moves away 3%
- Dies 1%
Ronald J. Baker also lists a number of reasons clients leave their accounting firm:
- Doesn’t treat me right
- Ignores me
- Fails to cooperate
- Lets partner contact lapse
- Doesn’t keep me informed
- Assumes I am a technician
- Uses me as a training ground for new team members
Combining all these list together it appears as though the top reason for leaving an accountant/accounting firm is the genuine that your accountant cares. Take a minute and think about your own clients and how you might better serve them through genuine acts of kindness and care. Give them a phonecall and ask how they’re doing – don’t wait for them to call with the latest tax or investment question. Call and let them know about new IRS pronouncements or great new investment opportunities. Take a proactive approach in dealing with your clients and I doubt any of them will leave you citing “he/she doesn’t treat me right” as their reason.