Why Client Feedback is Essential for Accounting Firms and When to Collect It

Collecting client feedback is one of the most powerful ways to improve your accounting firm. It helps refine your services, increase client satisfaction, and justify higher pricing. Yet, many accountants fail to collect feedback systematically, often missing valuable insights that could help them build a stronger, more profitable business.

This is the first part of a three-part series on client feedback systems. In this blog post, we will explore why feedback is essential, who you should ask, and the best times to collect it.

In Part 2 and 3, we will cover the most effective methods for collecting feedback and how to use ChatGPT to streamline the process.

Let’s start by understanding why client feedback matters.

Check out the full video on this topic here.

Why Client Feedback is So Important

Many accountants assume they know what their clients want. But assumptions can be dangerous.

The only way to truly understand what clients value is to ask them directly. By collecting and analysing feedback, you can make informed decisions that improve your services, build stronger client relationships, and differentiate yourself from competitors.

The Benefits of Collecting Client Feedback

1. It helps you improve your services. Your clients can highlight areas where you excel and where improvements are needed. This allows you to refine your services based on real client needs rather than guesswork.
2. It increases client satisfaction and retention. When clients see that their feedback leads to real improvements, they feel valued and are more likely to stay with your firm long-term.
3. It strengthens your reputation and marketing. Positive client feedback can be used as testimonials and case studies, helping to attract new business through social proof marketing. Potential clients are more likely to trust an accountant with strong recommendations from others.
4. It justifies premium pricing. If your clients consistently highlight the value you provide, it becomes easier to demonstrate why your services are worth a higher price. Testimonials and case studies can support a value-based pricing strategy, allowing you to charge more while working with fewer clients.

Feedback is not just about collecting praise. It is also an opportunity to identify areas of improvement, resolve issues proactively, and strengthen relationships with your best clients.

Who You Should Be Asking for Feedback

Not all feedback is useful. If you ask the wrong clients, you might get misleading insights that could take your business in the wrong direction.

Focus on Your Ideal Clients

The best feedback comes from clients you enjoy working with—those who value your services, pay well, and fit your business model. These clients provide insights that help you attract more of the right kind of clients.

If you ask for feedback from difficult or unprofitable clients, their responses may push your business towards serving the wrong audience. For example, if a client who constantly disputes your fees complains that your prices are too high, you may be tempted to lower them. But if your best clients believe your service is worth a premium, their feedback is far more valuable.

To ensure useful and relevant feedback, ask yourself:

• Does this client value the work we do?
• Are they the type of client we want more of?
• Do they pay for higher-value services?

If the answer is yes, their feedback can help shape your business in a positive direction.

The Best Times to Ask for Feedback

Timing is crucial when collecting client feedback. Ask too early, and they may not have enough experience with your services. Ask too late, and they may have forgotten key details.

Key Moments to Collect Feedback:

• After onboarding a new client. This is the perfect time to ask how they found the onboarding process. Was it smooth? Did they receive the information they needed? Any challenges they faced can help you improve the experience for future clients.
• After delivering a significant result. If you have saved a client thousands in tax or helped them improve their cash flow, they are likely to be very happy. This is the best time to ask for feedback, and possibly a testimonial, while their success is fresh in their mind.
• During annual check-ins. If you hold an annual review with clients, include a feedback request as part of the meeting. They can provide insights into how your services have helped them over the past year and suggest areas for improvement.
• After resolving a client issue. If a client had a problem that was successfully resolved, follow up with a feedback request. This helps you ensure they are satisfied and provides an opportunity to improve your issue-resolution process.
• At the anniversary of your engagement. When a client has been with you for a year or more, it is a great time to check in. You can ask them what they like about your service and whether there is anything they would like to see improved.
• Before launching a referral campaign. If you plan to ask for referrals, collecting positive feedback first can provide fresh testimonials to use in your marketing materials.

By structuring your feedback requests around key milestones, you can ensure you receive valuable insights without overwhelming clients with constant surveys.

Pro Tip

Always follow up on feedback. If a client takes the time to share their thoughts, acknowledge their input and, where possible, act on their suggestions. This builds trust and strengthens long-term relationships.

FAQs

How often should I ask for client feedback?

It is best to request feedback at key points in the client relationship, such as after onboarding, after a major service, or during an annual review. Regular feedback ensures continuous improvement.

What if I receive negative feedback?

Negative feedback is an opportunity to improve. Address the issue promptly, communicate any changes you plan to make, and show the client that their concerns have been heard.

Can client feedback help me charge higher prices?

Yes. Positive feedback highlights the value you provide, which can be used to justify premium pricing. If clients consistently praise your expertise, efficiency, and results, it becomes easier to increase your fees.

Final Thoughts

Collecting client feedback is one of the most effective ways to improve your services, retain high-value clients, and grow your accounting firm. But simply gathering feedback is not enough, you need a structured system to ensure you collect insights at the right time and from the right people.

In Parts 2 and 3, we will explore how to collect feedback effectively, the best methods for gathering insights, and how to use ChatGPT to streamline the process.

Make sure to check it out!

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Wishing you every success on your pricing journey

The Value Pricing Academy Team