As an accounting practice owner, you need to be able to categorize your clients based on their needs and level of engagement. This will allow you to provide the best service possible for each client.
Your accounting practice is likely to have clients that fall into one of four categories: A, B, C, and D.
A and B class clients require high-level communication because they prefer to be included in all decisions and they want to take advantage of every opportunity. C class clients require less communication and D class clients need little or no contact outside of periodic reporting and sending invoices.
It’s important to understand your client’s category because it will affect your degree of communication. If you are unsure which category that your client falls into, then it is advisable to contact him or her to get their feedback on how they would like to be communicated with.
Category A & B clients are the most valuable in your customer base. They will make an effort to understand what you can offer them, and may enter into a service contract with you if it is beneficial for both parties
While Class C & D clients are less valuable, they will be less of a headache to maintain as your customer. They are likely to remain satisfied with the work you produce for them and require little interference on your part (although it is important that they feel supported by you).
The Senior Client Manager handles communication around strategic queries and for A and B class clients – for example:
- I’m looking to buy a business worth $3M, how do I do it?
- I’m buying an investment property, how do I structure the ownership?
- I want to buy my partners out, how do I value my company?
While the Assistant Client Manager handles the communication around low-level queries – for example:
- When do I have to lodge my tax return?
- When do I pay capital gains tax?
- When is trading shares not investing?
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