Developing a good working relationship with customers is essential to ensuring business success in the financial sector and across all service industries. Here’s how accountants can build client trust to foster long-term relationships and generate new business opportunities.
Personalized client management
One of the most important priorities is personalised client management.
It can be tempting to take a one-size-fits-all approach to your accounts, especially if you’re a one-person company or dealing with an expanding client list. However, tailoring your management style to your client’s specific niche and needs will be beneficial in the long run.
Taking time to understand their unique business needs and how these affect their finances shows a level of care above and beyond the norm. This will ensure clients feel fully supported and confident in your knowledge of their challenges.
It will also help you to better understand the ebb and flow of their accounts so that any discrepancies are easy to spot.
Reduce the risk of errors
Errors in accounting can lead to costly mistakes for you and the client. Even if you escape financial consequences, errors will damage your relationship with that specific client and perhaps your overall reputation if word gets out. This can lead to a lack of trust and the loss of accounts.
Financial information is a prime target for digital attacks, so make sure you do all you can to protect and secure data and explain the process to your clients to give them peace of mind. You should also run regular audits and check HMRC company compliance regulations to ensure that you and your clients stay within the black and operate within legal guidelines.
However hard you try to avoid risks, there’s always a chance of making mistakes. Many businesses explore specialist accountants’ insurance to help protect themselves if something goes wrong.
Invest in advanced technology
It could also be worth investing in advanced technology to help build client trust.
Using accountancy software means quicker processing and faster turnarounds. More accurate input of information, in-depth data analysis, and a great range of insights. These factors make your work more efficient and reliable, increasing your image as a trustworthy business.
Ensure transparent communication
Finally, ensure that you have transparent communication with your clients at all times. This is essential to creating a bond of trust, especially when something goes wrong.
Common examples include overpromising on deadlines or being inconsistent with your work, making you seem unreliable. Don’t be tempted to conceal problems if clients find out you’ve been hiding something from them. They will instantly see you as untrustworthy.
Provide each client with a clear view of how you handle their account, including a breakdown of costs for services provided.
