Building Trust With Clients 9 Easy but Potent Strategies for Accountants
Infinity Globus
30 Oct 2023

Accounting and related firms indubitably understand the importance of building effective client relationships. Today, only generating reports and going through numbered data is just not enough. Rather, forming and strengthening client relationships is what helps the firm thrive in the market arena.

A healthy and strong relationship with the client not only fosters trust but also induces a sense of belongingness, urging them to keep bouncing back for their future endeavors. However, as many clients exist, so do the various ways you can build a strong and fruitful relationship with them, and more often than not, it leads to vague and clueless strategies on the part of the accounting firm.

As such, if that is the quest you’re on, you have landed at the right place as we have whittled down the list for you to the top six strategies that as accountants you can follow for effective client relationship management.

But before we delve into that, let us first understand why building a strong base with the clients is necessary in its entirety!

Why Build a Strong Client Relationship?

Having a strong foundation with clients’ lead to a wide array of benefits. Some of them are mentioned below:-

1. Increases Loyalty

When a good relationship is maintained, a long-term engagement with the clients occurs. As such, the more you work with them, the more you understand them, leading to effective solutions to your client’s needs. This in turn induces loyalty of the clients in your firm.

2. Enhances Business Opportunity Prospects

Those clients who are in constant touch with your accounting firm know your work ethics and hence, their satisfaction not only motivates them to come to you for their future work but also makes them refer your services to others.

3. Aids in Problem-Solving

When a strong association is built with the client, understanding a situation unique to them becomes easier, which greatly helps in solving the problem at hand. It further assists the accounting firm in applying similar strategies when dealing with future clients.

9 Effective Strategies for Accountants Pertaining to Client Relationship

Well, we have done the legwork for you and have come up with the simplest yet effective strategies that you can undertake to build a strong foundation with your clients.

The strategies are as follows:-

1. Clear Communication

To begin with, an accounting firm must always keep clear communication with its clients since it is one of the key components of client communication strategies. This involves updating them about crucial deadlines, regulatory changes, and financial intricacies amongst others. When regular communication is maintained, a professional and accountable image of the firm is created, which reaffirms them that they are in the right hands. It thus, builds trust between the two parties that goes a long way in any business setup.

Also, when the clientele are furnished with essential information and included in the decision-making process, it builds an ownership sense in them. One of the key ways to include them in the process is by extracting their input on various aspects, such as tax planning, or investment opportunities. This strategy will thus, help clients put their trust in the firm while enabling the service providers to give effective solutions in return.

2. Tailor Services

According to a survey conducted by Onpay, there exist only 61% of small businesses that feel satisfied with their accountant’s services. This is because different clients have different needs, and if every client is dealt with the same approach, dissatisfaction with one’s services is bound to occur.

Therefore, to build a positive and strong relationship with your clients, understanding and giving them tailored services can go a long way. The best approach is to take time to analyze and know each of the clients, their objectives, needs, and challenges faced by them, so as to give customized solutions to each.

Once a personalized service is given to the clients, a strong bond is created that is hard to shed even in the direst situations and ups and downs of the dynamic business environment.

3. Active Problem-Solving

Acknowledging and addressing issues that might arise in the future is always considered one of the key skills of an accountant. When clients see that you are proactively involved in solving potential problems beforehand, it reflects that you are invested in their success, which helps in building trust with clients.

In other words, accountants can identify areas that may lead to financial problems for the clients and provide instant solutions for the same. Offering much-needed timely advice thus helps combat any hurdle and builds as well as boosts trust with time.

4. Ask For Feedback

Seeking feedback is a great way to identify one’s strengths and areas that require improvement. This can be done by conducting feedback sessions, formal or informal conversations, or even one-to-one meetings. When you understand what your customers like and what areas you can work upon, you’ll be able to improve your services and better cater to their needs. This will eventually build trust and make your clients come back to you for their future projects. It will also motivate them to recommend you to others.

5. Offer Advice and Guidance

To come out as a trusted advisor, and build a strong bond with your clients, it is imperative that you offer constant advice and guidance to them. When you answer their queries and come forward with the required advice, you can foster confidence in them, enabling them to put their trust in you and your services.

6. Use Practice Management Software

Companies that offer accounting outsourcing services should always use management software. Since a lot of information is shared between clients and firms, keeping track of everything using emails can be tiresome. However, failing to do so can adversely affect the relationship between you and the client. Hence, it is best to make use of management software as it helps in tracking information easily and aids in managing the workflow efficiently. This in turn helps build a strong relationship between clients and you.

7. Respect Your Client’s Time

Respecting your client’s time makes them feel valued and understood, making you come out as a punctual entity beyond doubt. This fosters better relationships and creates a long-term bond that remains unshaken.

8. Be Upfront About Your Fees

As much as it is important for you to deliver effective outsourced accounting services, it is equally necessary for you to be transparent about the fees you’ll be charging from your clients. Also, if you wish to increase the fee, inform them at the behest. Knowing what your charges are can help clients in determining their budget and will boost your relationship and not sour them at any point in time.

9. Show Gratitude

As simple as it may sound, saying thank you and expressing gratitude builds the foundation that strengthens client relationships as you make your way in the market. When you acknowledge their presence and reflect gratitude for their unshaken trust in you, it makes the client feel valued. Sending thank you emails and notes or even conveying the same in meetings can create a positive impact on your clients, boosting their confidence in you.

Final Thoughts

Flourishing and thriving in the market necessitates accountants to build a strong client relationship. With the dynamism of the business arena, doing the same can aid in getting constant referrals and future projects from already existing clients, thus, boosting one’s presence in the business spectrum.

As such, with the mentioned simple strategies, accountants can make their services more streamlined and maintain strong associations with their clients without much ado.

Infinity Globus author

Infinity Globus has been offering outsourced tax and accounting services to its global clientele for over two decades now. With the zeal and dedication to meet the needs of its clients and extend customized solutions, the firm has made an impeccable mark through its relentless services that amplify clients’ success and bring sustained growth all through.