Intuit Accountants News Central

How to Grow Your Practice with NetPromoter®

Article Post Date
November 16th 2010 by Mike Kendall

Click above to see Intuit’s CEO Brad Smith on the power of NetPromoter

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[1], 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 ….

STEP 1: Survey Your Customers

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.

Survey Tips:

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

Identify Themes

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

Assign Ownership

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.

  1. How likely are you to recommend Able & Company to your friends and colleagues?  Please answer on a scale of 0 to 10, where 10 is “extremely likely” and 0 is “extremely unlikely”?
  2. Please explain the reasons for your response to question 1.
  3. If you answered 0 through 8, what are the three most important things Able & Company must do to have you answer 9 or 10 in the future?

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.

Sincerely yours,

J.B. Smith

Partner, Able & Company

Online Survey Tools

There are a variety of survey tools available. They vary in cost and capability. Here are some examples: SurveyMonkey, Zoomerang, CheckBox, QuestionPro, Medallia, SatMetrix

Intuit does not endorse any survey provider. Please select an option that best fits the needs of your firm.

Resources for More Information

Net Promoter Basics

Additional Resources for Growth

Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • Digg
  • del.icio.us
  • StumbleUpon
  • Technorati
  • Google Bookmarks
  • RSS
  • Print
  • PDF
  • email
  • About Mike Kendall

    Mike Kendall I lead Intuit's Customer Experience efforts for professional accountants. That means every day I get to work with talented people to listen and learn from our customers and lead change that creates delight. I'm an Intuit Innovation Catalyst, a Certified NetPromoter Associate, Lean Six Sigma Master Black Belt, former Baldrige National Quality Award Examiner and Texas Quality Award Judge. Before joining Intuit I led strategy and process excellence at small and large firms including Citigroup. On the personal side, I am a drummer/percussionist and enjoy music, cycling, travel, and photography. See all of Mike's articles…

    You can also visit Mike's Website

When commenting, please be polite and use the site for your own personal, non-commercial use. For the full legalese of dos and don'ts, see our Online Community Terms of Use. Thanks!

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

You must be logged in to post a comment.

 
© 2014 Intuit Inc. All rights reserved. Intuit, the Intuit logo, QuickBooks, ProSeries and Lacerte, among others, are registered trademarks and/or registered service marks of Intuit Inc. or one of its subsidiaries. Other parties' marks are the property of their respective owners. Terms, conditions, features, pricing, support and service are subject to change at anytime without notice.

The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here (to read full disclosure on third-party bloggers.  This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Comments are subject to moderation. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service.