Accounting Today’s November 2010 Growth and Profitability Summit in Las Vegas hosted two Intuit senior leaders speaking on how to generate revenue by delighting customers. Brian Andrews, Vice President, Customer Experience & Business Excellence, and Steve Blundell CPA.CITP, Senior Manager, Vendor Partner Relations & Customer Advocate, are both with Intuit’s Accounting Professionals Division. In their presentation, Intuit-Acct-Today-Presentation-111510, they detailed a simple approach that generates growth through creating customer loyalty and referrals.
One of the things we hear from Intuit customers is that many accounting firms want to grow, yet their traditional approaches of marketing have not been successful. We’ve also heard that the number one source of new customers is from referrals generated by happy customers. Unfortunately, most accounting firms haven’t found ways to identify these promoters and to create more of them.
NetPromoter is a simple, yet powerful way to build enduring client loyalty and grow your practice. As early pioneers of NetPromoter, Intuit and other firms (both small and large) have seen dramatic results for a relatively small investment. Intuit has tested this approach in accounting firms and found it to be equally as beneficial. This article will help you take your practice to the next level. Just follow these three steps and repeat ….
The first step of a successful NetPromoter program is to find out what your clients have to say about their experience with your firm. The most predictive approach is to create a short survey that leads with the question: “How likely are you to recommend (My Firm) to a friend or colleague?” This question is powerful because clients are not going to put their personal reputation at risk unless they truly believe in what it is they are endorsing.
STEP 2: Analyze the Feedback
Now that you have collected feedback from your customers, it’s time to analyze the results.
Calculate Your Net Promoter Score
Call Your Customers
Understand the Economics
STEP 3: Act to Create More Promoters
Now that you know who your Promoters, Passives, and Detractors are and why they feel like they do, it’s time to take action to create more promoters.
Set Improvement Targets & Plans
Decide whether you need to move Passives to Promoters, reduce Detractors or maybe do both.
Engage Your Team
REPEAT: At the appropriate time, field your survey again to see if your efforts were noticed by your clients. Track your results against your targets and continue to repeat the cycle. Engage your staff in listening to customers and suggesting new ways to delight them.
Net Promoter Resources
Net Promoter Score Calculation Example
ABC Accounting & Tax had 90 customers respond to the firm’s survey.
Sample Net Promoter Survey
Dear Great Client:
Please complete the following survey.
Thanks for your response.
Able & Company 1242-01-02
Sample Net Promoter Survey Invitation
Dear Great Client:
We want to thank you for your business. Our firm values the relationship we have with you and want you to know how much we appreciate you.
Our main goal at the firm is to provide you with services that will help you increase your business and profitability. We want the experience you have with us to be so good, that you will actively recommend our firm to your friends and colleagues.
To do this we need to know how we are doing currently and what we need to do to strengthen our relationship with you so that you never hesitate in recommending us to others.
We have engaged XXX Consulting to get this information from you, tabulate the results, and report back to our firm on their findings. Once we have the results we would like to schedule a meeting with you to discuss areas where we can improve our services to you.
Again, thanks for your business and we look forward to a long, mutually beneficial relationship.
Partner, Able & Company
Online Survey Tools
Resources for More Information
Net Promoter Basics
Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
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