Client Relationships Add Net Promoter Scores to Your Tax Client Feedback Plan Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Joel Hodges, CPA Modified Mar 5, 2019 3 min read If your marketing plan doesn’t include a strategy to generate regular feedback from your clients, now is the time to develop and implement it. Client surveys are among the easiest ways to gauge your professional performance. It’s as simple as asking, yet many tax preparers fail to seize these opportunities. And, when they do, they often don’t ask the right questions. Enter Net Promoter Score (NPS), a loyalty metric that lets companies measure client satisfaction. The NPS asks one question: How likely is it that you would recommend this company to a friend or colleague? Respondents answer the question on a numeric scale ranging from rate 0 to 10, with 10 being the most likely to recommend. Note: at the end of this article is a downloadable PDF with instructions on how to set up your own Net Promoter survey. The Critical NPS Question Steve Blundell, a CPA and customer advocate for Intuit®, has run these surveys for several large corporations. He also uses them internally at Intuit. “‘Would you recommend?’ is a much stronger question than, ‘Are you satisfied?’” he says. Shawn McMorrough, lead research manager at Intuit’s ProTax Group, says you should track your average NPS over time. To calculate your company’s NPS, take the percentage of respondents who are promoters and subtract the percentage who are detractors. McMorrough provides the following example of the matrix used: “We always use an open-ended follow-up question,” says McMorrough. “We ask them what their reason is for giving that answer. If they like the service, they might answer something like, ‘It’s easy to use.’ If they don’t like it, they might say, ‘It’s too expensive’ or ‘They leave me on hold too long when I call.’” The results of such questions can be enlightening, he says. “What we have found is that clients want advice more than they want help. They want to know how to make more money or how to plan for retirement.” In addition, determining your NPS isn’t a one-off strategy, says Blundell. Businesses change. They add new staff. The process needs to be repeated to make sure you’re making continuous improvement. Launching Your Own NPS Survey Setting up a Net Promoter Score survey is simple. Here’s how to get started: Sign up for a survey website. SurveyMonkey and Instant.ly are two widely used, affordable options. Once you’ve created an account, you can customize the survey using the tools that fit your needs. Include at least one open-ended question and one “Would you recommend” query. Open-ended questions provide rich qualitative data and valuable insights. Recommendation queries allow you to gain a clear measure of performance through your customer’s eyes. Write an email to your clients asking them for feedback. Include the link to the survey. Keeping the format simple and accessible will increase response rates. Tabulate results. Remember to organize your findings so that you can easily compare and contrast results on a regular basis. Look for correlations in the responses to different questions and highlight data specifics to the objectives of your business. Repeat the process – annually, at a minimum. After gathering and reviewing the data, develop an action plan and implement processes for improvement. Previous Post Who is in Charge of Value? Next Post 6 Ways Tax Pros Can Put an End to Seasonal… Written by Joel Hodges, CPA Joel Hodges, CPA, is a Tax Development Group manager with Intuit®. He has been with Intuit for more than 16 years, and previously worked as a tax manager in a local firm. More from Joel Hodges, CPA Comments are closed. Browse Related Articles Tax Law and News Consultant Spotlight: John Trammell Practice Management Why you should care about green cloud computing Practice Management Consultant spotlight: Steven G. Advisory Services Understanding your client’s relationship with mon… Practice Management Consultant spotlight: Jonathan Lovitt Practice Management ProConnect™ Tax spotlight: Megan Leesley, CPA Tax Law and News Boo! Extension season horror stories Tax Law and News Tax relief for victims of Hurricane Milton Practice Management Tax Season Readiness virtual conference—Nov. 13-14 Practice Management Lacerte® Tax spotlight: Tania Santos, EA