Client Service During a Pandemic: Some Things Never Change, … Client Service... · 2020. 6....
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© 2020 The Whetstone Group, Inc. Client Service During a Pandemic: Some Things Never Change, Others Do Presented By: Larry Bildstein, CPA http://www.youtube.co m/watch?v=f- 3mhITxQ0E
Transcript of Client Service During a Pandemic: Some Things Never Change, … Client Service... · 2020. 6....
© 2020 The Whetstone Group, Inc.
Client Service During a Pandemic:
Some Things Never Change, Others Do
Presented By: Larry Bildstein, CPA
http://www.youtube.com/watch?v=f-
3mhITxQ0E
© 2020 The Whetstone Group, Inc.
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e © 2020 The Whetstone Group, Inc.
LARRY BILDSTEIN, CPA
• 28 years with RSM McGladrey• Client service partner – 15 years
• Regional Managing Partner• Industry Specialization – Banking and Manufacturing
• Initiated IT Consulting Group - $30 million in annual revenues in 5 years
• Initiated the business advisor concept
• Exec VP – Marketing and Communications
• 20 years as CEO – The Whetstone Group• Helping CPA firms identify and achieve their
strategic vision
• Consultant, author and speaker
© 2020 The Whetstone Group, Inc.
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e
CARRIE STEFFEN
• Co-founder and President – The Whetstone Group
• Previous Marketing Director – RSM McGladrey
National marketing office
• President CPA Consultants Alliance
• AAM – Treasurer and Board Member
• Member CPA Consultant’s Trust
• Skilled Trainer
• Consultant, Author and Speaker
Copyright 2019 The Whetstone Group, Inc.
© 2020 The Whetstone Group, Inc.
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e
ABOUT THE WHETSTONE GROUP
Visioning sessions
Niche planning and Development
Retreat Facilitation
Lead Generation
Client Satisfaction Work
Defining Client Service/Training
Business Development training/Entire Firm
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Brand positioning and client experience
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G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e
THE WHETSTONE GROUP
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Contact us:[email protected]
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© 2020 The Whetstone Group, Inc.
Best Practices – Client Service during a Pandemic? Seems like a lot has change but let first focus on what should NOT change….
• No Change…… • Definition of client service
• Brand promise to your clients and prospects
• Commitment to deliver what you think client’s expect
• To your differentiators
• Premium pricing vs. competitors
© 2020 The Whetstone Group, Inc.
Best Practices – Client Service during a Pandemic? – No Change in Why Client Service is critical
BUSINESS CASE FOR EXCELLENCE
IN CLIENT SERVICE
• #1 Client retention/satisfaction (54)
• #2 Growth in Revenue (43)
• #3 Higher pricing and realization (41)
• #4 Staff satisfaction (31)
• #5 Differentiator (31)
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© 2020 The Whetstone Group, Inc.
Best Practices – Client Service during a Pandemic? – What does change?
The How:
• How you do client service
• How you deliver
• How you get it done
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CLIENT SERVICE BEST PRACTICES
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e Copyright 2019 The Whetstone Group, Inc.
Define client service in terms of behaviors your clients should experience from firm professionals
Use the team approach to serving clients
Listen to the voice of your clients
Formalize the definition of A, B, C and D clients – allocate your available client service hours proportionally to the value to the firm
Use a “consultative” approach to serving clients
Have a strategy to deal with D level clients
© 2020 The Whetstone Group, Inc.
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e Copyright 2019 The Whetstone Group, Inc.
Responsive and timely delivery are core to how to provide client service
Embrace specialization and be willing to assign clients according to professionals with the expertise
Continually strive to improve the service delivery process
Invest in a team of business advisors – that are more than reactive to client requests for help
Understand the value of keeping clients for life
Pay attention to the next generation of client leadership.
Determine what has to change in the staff hiring process
CLIENT SERVICE BEST PRACTICES
© 2020 The Whetstone Group, Inc.
Client Service Delivery Process
Client Service
Delivery Process
FieldworkDeliverables
Communicate advice
Planning
© 2020 The Whetstone Group, Inc.
Example Firm promises:
Know your clients and exceed their expectations
Be proactive with respect to client ideas that will save taxes, drive profits and meet business objectives
Hold periodic meetings and contact them to let clients know you care
© 2020 The Whetstone Group, Inc.
Know Your Clients and Exceed Their Expectations -Clarification Questions
• Define the degree we need to know a client – the business, personal, family?
• What is the process to identify what a client needs?
•Formal or informal?•How often?
• How do we know what clients expect so we know if we are exceeding expectations?
• Are you tracking progress/results?
© 2020 The Whetstone Group, Inc.
Best Practices – Client Service during a Pandemic? – No Change in Why Client Service is critical
BUSINESS CASE FOR EXCELLENCE
IN CLIENT SERVICE
• #1 Client retention/satisfaction (54)
• #2 Growth in Revenue (43)
• #3 Higher pricing and realization (41)
• #4 Staff satisfaction (31)
• #5 Differentiator (31)
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© 2020 The Whetstone Group, Inc.
The “How” of client service as we defined it
Client Service
Delivery
Process
Business
Development Process
© 2020 The Whetstone Group, Inc.
The Business Development Process
Business
Development/Growth
ProcessProspecting
Lead Gen
Needs assessment
Value proposition
Establish trustProposal/Closing
© 2020 The Whetstone Group, Inc.
Business Development
Process
Client Service Delivery Process
Integrate client service and BD processes…and make it continuous
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Fieldwork
Deliverables
Advice
Prospecting
Proposal/Closing
Planning
© 2020 The Whetstone Group, Inc.
Business Development
Process
Client Service Delivery Process
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9. Capitalize on relationship
8. Needs assessment meeting
10. Prospecting
11. Proposal
2 Focus meeting
3. Fieldwork
4.Deliverables
5. Advice
6. Project summary meeting
7. Assess learning
Successful Sales and Client Satisfaction
1. Planning
© 2020 The Whetstone Group, Inc.
Covid changes…..• Use of technology - See each other’s face
• Zoom, Skype, Microsoft Teams, Google Meet, Facetime, etc.
• Use of technology• Virtual “tours”
• Drone technology
• Client portals
• Google drives/google docs
• Work at home – Optional or required• Connectivity
• Productivity
• Firm culture impact
• Work in the office – Optional or required• Cleaning
• Social Distancing
• Public transportation/parking
• Access to common office building
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© 2020 The Whetstone Group, Inc.
Covid changes…..
What do your clients want?
On Site or remote or combination
Liability issues
Clients and staff safety
Work interruption
Compliance with standards – AICPA Remote Audit
https://www.journalofaccountancy.com/news/2020/mar/auditing-how-to-observe-inventory-during-coronavirus-pandemic.html
https://www.journalofaccountancy.com/news/2020/apr/going-concern-tips-for-auditors-during-coronavirus-pandemic.html
https://www.journalofaccountancy.com/news/2020/apr/auditing-with-changed-controls-during-coronavirus-pandemic.html
https://www.journalofaccountancy.com/podcast/coronavirus-guidance-for-auditors-and-financial-statement-preparers.html
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© 2020 The Whetstone Group, Inc.
Covid changes…..
Strategic Planning ( Not the concept but the content)
What will the “new normal” look like after the crisis?Varies by firm….
Consider the long-term impact – what is permanent and what is temporary?
What will the following look like going forward: Client ServicePeopleGrowthFinancial Infrastructure
Consider the impact on “the how” based on the new look
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G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e
QUESTIONS?
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www.thewhetstonegroup.com/blog
Sign up for our newsletter:
www. thewhetstonegroup.com
Contact us:[email protected]
Copyright 2019 The Whetstone Group, Inc.
© 2020 The Whetstone Group, Inc.
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e
POLLING QUESTION
How often does the firm listen to the voice of the client?
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© 2020 The Whetstone Group, Inc.
G r o w t h T o o l s f o r a C o m p e t i t i v e E d g e
POLLING QUESTION
Our firm has clearly defined client service including identifying the behaviors
required to deliver on the definition
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