Six tips to strengthen client relationships (part 1/2)

The relationship between an accountant and their SMB-owner clients is a very special one. It’s built on mutual trust and respect. The accountant can provide the best advice when they see the full picture of business and personal affairs. So clients share information that is often private and very sensitive with their accountant. It’s important that they feel that their secrets will be respected.

After many years as an accountant to SMB-owners, a lot of these clients became my friends. The business relationship becomes more fulfilling, beneficial and rewarding for everyone as it strengthens. The client gets better advice and better service. For the accountant, client churn can be greatly reduced and the lifetime value of that client can increase.

Here are the first three of six ways you can improve client relationships. Check back next week for the rest of the tips.

1. First impressions

It is better to be feared than loved, according to Nicollo Machiavelli, 16th century politician and philosopher. Five hundred years ago, Machiavelli identified what 21st century psychologists have confirmed – fearsomeness and lovability are the two dominant dimensions we use in social judgement. These are also the principal characteristics we evaluate when we form impressions of others.

This can be applied to accountant-client relationships. In the 21st century the characteristic of fearsomeness is displayed as technical competence, personal influence, positional power, inner strength and intensity. Lovability is displayed as personal warmth, approachability, trustworthiness and being nonjudgmental. Studies show that when people form first impressions they make judgements about agreeableness faster than they do about fearsomeness. So for any professional, a prospective client will ‘feel’ your warmth (or lack of it) before they pick up on your technical competence.

2. The two most important attributes for accountants

Recently, I did some research to find the most important attributes for accountants. I found that both clients and accountants value the same attributes. Both groups regard agreeableness (lovability) and technical competence (fearsomeness) as the most important attributes for accountants. Both groups also put a higher value on agreeableness than on technical competence.

Agreeableness is the pipeline of influence. It helps strengthen relationships and helps build trust. Displays of agreeableness and warmth can strengthen the connection with clients through clearer understanding of goals and desired outcomes.

Accountants can use this knowledge to help strengthen their relationships with clients by building on the clients’ natural desire to affiliate, to be listened to and to be understood. A conscious effort should be made to build rapport and to empathise with the client whenever you are meeting with them. Trying to impress them with your technical knowledge should wait until rapport has been built. Displaying technical competence before warmth can lead to a lack of trust and failure to commit, so it is important to show warmth (lovability) before competence (fearsomeness).

3. How to display warmth

So just how can accountants (or any business person, for that matter) project warmth and agreeability?

• One way to project warmth is by lowering the pitch and volume of your voice. Lowering your tone suggests that you are sharing confidences, which shows you trust the listener.
• Sharing personal stories can be another way of projecting warmth. Perhaps you could talk about some of your own experiences as an SMB owner. Again this demonstrates your openness and sets a tone of equality in the relationship.
• Demonstrate a shared world view through something that you can agree on. It doesn’t really matter what the subject of the agreement is; it could be how great the economy is at the moment, the worries of managing employees or the successes of the the local football team. Many accountants and their clients have a lot of common ground upon which to build rapport through each being SMBs. Sharing experiences will help build empathy.
• A genuine smile projects warmth. It is always easier to do this when you are in a good mood. People with high emotional intelligence (EQ) have the skill to raise their mood level when required. One effective way of doing this is to spend time immediately prior to your meeting actively recalling some happy memories.
• Good body language helps you maintain your positive feelings. An open posture will be relaxing and welcoming. Ensure your hands are open rather than curled or closed into fists. Keep your chin up or ensure that your body is turned toward your client.