Currently only a third of firms regularly report client KPIs at Board level, so most management decisions are taken in the absence of robust insight about client needs and preferences.
Creating a structured client feedback programme is an effective way to assess the health of your firm’s client relationships, identify clients at possible risk of defection and capture insights from ‘client promoters’ who are willing to champion your firm to their peers. It will highlight systemic client servicing issues throughout your firm and provide a robust business case for make changes to the way your firm works with its clients.
Client feedback also represents a powerful opportunity to identify new sales leads. Professional firms increasingly use feedback conversations to hear directly from clients about immediate priorities on the horizon, and where they would be open to using the firm in the future.