Successfully Attract and Retain Clients | How to Relate to Your Clients
Does your firm want to successfully attract and retain clients? If the firm is having trouble connecting with them, it may be because you have not taken age into consideration.
Looking from a generational perspective allows firms to better appreciate how clients feel and how they want to be communicated to. It is only then that clients’ needs can be met in meaningful ways.
Generations accounting firms may work with are born between:
- Traditionalists: 1900 and 1945
- Baby Boomers: 1946 and 1964
- Generation X: 1965 and 1980
- Millennials: 1981 and 1996
- Generation Z: 1997 and present day
Addressing the differences between generations can help you relate to and serve clients, which can lead to new business opportunities and higher client retention.
As company ownership ages, you will see Traditionalists aging out of these roles and most of them will not be looking to switch accounting firms. Interactions with Traditionalists will not likely be to bring in new business for that reason, but they may be long-time clients.
Baby Boomers should not be considered digitally inept but many may prefer non-digital communications. Marketing efforts should be personalized. From a services perspective, wealth management and exit planning services appeal to this generation.
Gen X has found itself caught between the promises of the American Dream and a system unable to support that dream. For Gen X business owners, offer financial analysis and cash flow consulting services. Most of all, be genuine and authentic.
Millennials embrace the idea of entrepreneurship as much as they embrace technology. Services that help Millennials do their jobs better, faster and smarter will stand out from the rest.
Though Gen Z is not yet a major market for accounting firms, they will be a major customer base in 10 to 15 years. Once they mature, Gen Z will look for tech-based solutions that are integrated from start to finish.
Read the full article to gain tips on relating to each generation and the services that are most appealing in order to successfully attract and retain clients.
Members: read more starting on page 7 of Growth Strategies, Fall 2019
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About Christine Hollinden
Christine M. Hollinden, CPSM, founder and principal of Hollinden | marketers + strategists, is passionate about helping professional services firms distinguish themselves from the pack. Her forward-thinking approach has earned her industry recognition as evidenced by the firm’s nationwide client base. Her competitive spirit has helped hundreds of firms build brands, create niche practices, and expand their practices. In her spare time, you will find Christine playing golf, cooking a gourmet dinner for friends, or leading the Houston Chapter of Chaîne des Rôtisseurs, the oldest wine and food society in the world.
Welcome to CPA Growth Trends — your source for information, insights, tools and best practices to drive growth within an accounting firm.
with Danielle Reynolds, Business Development, Manager with Whitley Penn
A business developer’s day involves a myriad of activities from external meetings with business owners and referral partners to scoping calls for initial client connections.