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Why Net Promoter Score monitoring is critical for client loyalty

A high Net Promoter Score (NPS) is an indication of client loyalty and can be a valuable metric for your accounting business.  

Your NPS can be determined by surveying your clients and asking them how likely they are to refer your business to a friend or colleague.  

You can use this score to help you identify potential areas of improvement within your business, as well as track the success of any changes you make over time.  

If you’re looking for ways to improve your NPS, here are a few things you can do: 

  • To ensure you are providing excellent customer service, have a Company Policy that requires all calls and emails must be returned on the same day and if not the very next morning.  
  • From the positive surveys we ask clients to give us a Google Review and many of the new clients comment that they chose us because of the number of positive Google Reviews we have. 
  • For any accounting business, the Net Promoter Score is a critical metric to monitor your clients’ happiness, and the bigger you get and the more staff you have, the further you are away from the pulse of your firm.  

It’s absolutely essential that you have a system to allow you to be in control without being controlling  

If you score a 9/10 or 10/10, your clients go out of their way to refer friends to you. If you score 6 to 8, they are happy, but they will not go out of their way to refer friends to you. If you score 4 to 5, they will leave as soon as someone else offers them something. If you score below 3 then they will tend to go out of their way to bad mouth your firm to friends.  

Once you receive an ethical letter from another accountant, it’s too late to try and save that client.  

Research shows that clients expect thing to go wrong from time to time, but what defines your firm is how quickly you react to fixing their problems. 

So, the surveys and NPS scores give you an opportunity to fix a problem before the relationship is beyond repair.  

If you are not already monitoring your NPS, I recommend you start today. It is a quick and straightforward way to gain valuable insights into your business. 

P.S. Whenever you’re ready, here are 4 ways we can help you grow your Accounting practice:

1. Download a free copy of our book – The Accountants 20 Hour Workweek
In this free book, we highlight the No.1 strategy that’s had the biggest impact on building our own practice to run without the owners – Click here

2. Join our free Wize Accountants Mastermind group
It’s our new free online community to share daily insights, tips and free tools to grow your practice — Click Here

3. Save $’000s in your practice every month with this new program

We’ve just released a new practice acceleration program which will help you save money and time every month whilst taking your practice to a new level of growth. See if you qualify – Click here

4. Build your firm to run without you
We have the step-by-step plan to grow a seven figure profit practice that can run without the owner. Would you like it? –  Click here