Growing your firm? Let your clients lead the way

As accounting firms actively prepare their clients for the future, planning for the next phase of growth is always top of mind. 

Whether through expanded services, industries or markets, most firms will prioritize growth as part of their strategy for the year ahead. 

But as accounting leaders have seen over the past few years, a changing environment makes it all the more challenging to place your big bets. But there is one area you can safely bet your strategy on: your clients. 

What I've learned throughout my career first as a small-business owner, and now as a chief customer officer serving small and midsized businesses and accountants, is that clients hold the insight into where you should be investing, shoring up or expanding offerings. 

In fact, a customer-first approach to growth helps remove distractions or areas of uncertainty, so you can focus on what will move the needle, and add value to the clients you have and want to have. Here are three ways you can do that. 

1. Deepen connection through authentic communication

As a firm leader or business owner, it's important to have a pulse on your financials and key metrics that can help you make decisions. Today, businesses have access to real-time dashboards that offer significant value. But when I was running my small business, some of my most powerful "business intelligence" insights didn't come from a dashboard — but from a direct dialogue with my customers. 

Through those conversations, I could see what products were selling well and why, and through their questions I could see opportunities for new inventory. The same is true for your clients — whether you offer accounting, tax or client advisory services. 

• Listen first, speak second: Listening is a superpower in business, and it goes hand in hand with empathy. It's not about waiting for the right moment to make the sale; it's about getting perspective to help you understand how to add future value. If your clients hold information close to the vest, survey them as a group to spot trends. 
• Build community: Think of your clients like a community you serve. Look for common themes in that community that connect to your capabilities. Find areas where they can learn from each other, or common problems you can proactively help others solve. In doing so, you help build a community that clients will turn to when they need support, advice or connection. 

One of our customers, Escalon, builds client connections exceptionally well. They are a technology-forward firm and very focused on optimization, and their leaders work to align themselves closely with their clients' lived experiences. They've also invested in nurturing human connections through in-person events and meetings. In driving deeper, more personal connection with clients, they are able to strengthen collaboration, and build long-term trust and loyalty. 

2. Understand and optimize the client journey

We've all had that experience as a buyer where we didn't get the seamless experience we wanted. Customers (rightly) have higher expectations for service and speed every year. Taking time to understand your client's complete journey and reduce points of friction at each step can help you improve your clients' experience, and open the door for new ways to add value. 

• Identify every touchpoint: Your client's journey doesn't begin on signing — it starts well before that, when they signal their intent or interest. Think about the complete experience your prospect will take, from identification of a need, to firm research, to initial contact and through service delivery via in-person and digital interactions. Next, document where there are delays or challenges on the client's side that could be improved or optimized, and start a punch list to address. 
• Streamline onboarding and communication: Many accounting firms have realized the benefit of a user-friendly client portal to ensure a single source of truth, and one homebase for document sharing, project updates and communication. In addition to ensuring your portal is seamless and easy to use, consider adding "welcome kits" when onboarding new clients and ongoing communication about what to expect, upcoming issues and your insights. It's critical that communication is two-way, and not just a broadcast, to ensure that the client's perspective is heard and understood throughout. 

onephoto - stock.adobe.com

Understanding and optimizing the client's journey also requires connecting different departments or disciplines within your organization. For example, at Bill we recently brought sales and marketing together to find greater alignment and streamline our engagement with SMBs and accountants through the entire customer lifecycle. 

3. Foster long-term relationships with clients

Think about the most valuable asset you have in your company. For many firms, it's their people, their client portfolio or maybe even a best-in-class tech stack. All of those drive value in an organization, but none of them work without a critical component: trust. 

I believe trust is the most valuable asset because it's the foundation for your client relationship and your work that safeguards a client's business and/or ensures the reliability of our markets. Trust is hard to earn and easy to lose — it's also the key to long-term relationships and client growth. 

• Deliver on promises: It sounds simple, but ensure your firm shares your commitment to deliver on what you promise, show accountability for your work, and meet deadlines. No matter how small the task might be, demonstrating a say/do ratio of 1:1 will go a long way in building trust. While your firm may deliver quality strategic advice, clients will always notice the details — meetings that start on time, responsiveness in communication, or accountability when things go wrong. Demonstrate your commitment to your client's success and make it personal. Treat your clients' wins like your wins. 

• Embrace change and the future: AI and automation technology will continue to change how every industry conducts business and adds value. What's critical is that your firm doesn't resist the future, but considers it as an opportunity to educate your clients, share valuable resources, and explore new offerings that could enhance your relationship and value. Clients want you to be thinking about what's coming around the corner, so they have one less thing to worry about. 

Another Bill customer and one of the fastest-growing firms in the country, Aprio, is enjoying great success with this approach. As a 70-year-old firm, it focuses on a "growth mindset" at every level of the company to empower its professionals to be proactive, curious and forward-looking to better serve clients and maintain trust. For example, the firm has dedicated resources to its Aprio Firm Alliance, created for future-oriented firms to come together and discuss challenges and solutions for the issues they continually face. Alliance members are given access to professional connections, advice and the technical resources they need to overcome obstacles, seize opportunities and continue to embrace change and innovation.

Key takeaway

No matter what the quarter or year ahead will look like, when you bet your strategy on your clients, you play to win. Staying close to client needs, improving their client experience and customer journey, and elevating your partnership through deeper connections and stronger trust will position your firm to grow with new and existing clients, and be the advisor of choice in an uncertain time.