5 Ways to Get Clients to value your advice
By Admin | 1 Jun, 2020
The internet has been around long enough that professionals have had time to adapt to how it can make their business more efficient and profitable, how they can use it to market to those they may not have reached before, and how they can even use it as a creative and informative outlet to compliment their advisory and consultancy services.
Yet, with the development of free consultancy websites and blogs, a potential client now has the ability to find tax and compliance related information on just about any issue within seconds, not to mention a plethora of fill-in-the-blank agreement and contractual documents he or she can purchase online for a lesser fee than most professionals charge. The result, especially in this economy, is that many still struggle with how they can convince potential and even existing clients to value their services.
So then, when a client knows that information can be obtained for free on the internet and that he or she can buy a fill-in-the-blank document online for a fraction of your fee, how do you convince your client that your expertise is needed?
Nothing shared in this article is new to a professional in practice, but every now and then it is good to hit the refresh button and remind ourselves that we can change potential and existing clients' mindsets and build value in what we do.
- Do a good job - Nothing is better for finding and keeping loyal clients who value your advice and expertise more than a satisfied client. If you can convince that one client of your value, he or she will certainly convince others.
- Appreciate that clients may be more knowledgeable than in the past - Professionals used to have to explain every aspect of compliance issue to a client and then convince the client he or she is the right consultant for the job. Appreciate that the client most likely has already done some research online, so now you can focus more in that first meeting on showing that you are the right person for the job. (But remember, not all information on the internet is correct, is from a practicing professional, nor applicable for your client’s business. Thus, you may have to modify some of the client's pre-existing beliefs.)
- Realize that you need to validate your fees - The public generally believes that fees are too expensive. For example Oftentimes, people hear what CA fee is, compare it to what they can pay online, and unless they see the value in what the CA does, draw the conclusion that the fees are outrageous. Part of our job as CAs is to educate potential clients on the cost of not utilizing our services - I call this the "a good CA now is much cheaper than non-compliance notice later."
- Adapt to this economy - Certainly this economy is affecting the profession. Potential clients may not be seeking the advice, but instead are seeking free information online. Depending on your practice, you may have to change how you find new clients. Many professionals now offer free advisory information in some format (blogs, seminars, free or lower-cost initial consultations, etc.) to educate potential clients about the value of personalized advice.
- Highlight what makes your services better - Especially small and medium sized firms, have to market themselves to bring in new clients. Focus your marketing on what sets you apart from the free or low-cost advisory advice and services on the internet.
