Home > New Client Course > How do Clients Evaluate You?

How do Clients Evaluate You?

A few years ago our accountant referred us to a Financial Advisor who helped us set up a new 401K.  I cannot say that this guy was incompetent but what he really lacked was an ability to enlighten my partner and me on his services.  We decided to work with him ONLY from the advice of our CPA and not because this guy was able to impress upon us his value to our organization and our staff.

One year later we meet with our accountant and this Financial Advisor to review this 401K.  This Financial Advisor talked for 30 full minutes covering indices of this and that and standards of this and that and just before my partner and I fell into a very deep unconsciousness, I gave a knowing glance to our CPA who immediately took the ball.

The CPA interrupted and said, “Harvey, all they want to know is rate of expansion of this plan over the past year.”  The Financial Advisor said, “Oh, I’m sorry it grew by __ percent over the past year.”

We were happy with the result of this plan but this guy would commonly miss the boat of what we needed and wanted and how WE would evaluate if his firm did a good job on this plan.  We no longer work with him.

You really need to find out from your clients precisely how they honestly evaluate your services.  You may find it may be entirely different than what benchmarks you use to determine if you are servicing your client or clients well.

It doesn’t matter if you are a Financial Advisor, a CPA, a medical billing company or any business for that matter, you will not know what is truly expected of your firm and how they will evaluate whether you have achieved that expectation unless you ask.

Ask all of your clients this simple question: 

We use many methods to evaluate just how effective we are in handling your account but there is one very important question that I would like to ask you.  How do you evaluate our services?”

You will want to find out if there is something objective that can be measured versus a “feeling” about things.  While working with your client; be sure to ALWAYS refer back to the agreed upon tool to evaluate your success.  If you are good at keeping THAT agreed upon tool used to measure performance you will be far less likely to lose that client because you both now understand one another.

Shaun Kirk

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