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10 ways to take consultative approach to meetings - people in an office meeting

Top 10 Ways to Take a Consultative Approach to Client Meetings

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When meeting with clients, accountants may be most comfortable getting down to business by crunching numbers and going through reports. This approach may seem logical, but it’s not always the best approach for relationship-building.

What accountants might consider a confident tone may come across as overbearing or even intimidating to a client. The accountant who does not take a consultative approach may risk the client leaving the meeting feeling frustrated or worse, discontented with the person who many consider is supposed to a trusted advisor.

Accountants can avoid these situations by developing a consultative approach in client meetings. This approach allows the accountant to explore the client's concerns and develop solutions specific to each client's needs. Taking an approach that focuses on a client's best interests will enhance the relationship.

Becoming more consultative may challenge accountants because it requires resisting the temptation to be strictly analytical. Accountants can hone a consultative skill set by asking more questions, improving their active listening skills, and offering examples of previous successes as applicable to a situation being discussed.

The top 10 ways to take a consultative approach in your client meetings:

1. Do Your Homework First

Doing your homework first, before the client meeting, will help you be more prepared to ask appropriate questions. Even if you have extensive experience in a particular industry or sector, do some research on your client to reaffirm your understanding of the client's history, customers, goals, and the competition.

2. Listen Before You Talk

Because each client is unique and circumstances change, take care to not assume you know what a client's challenges or motivations. Spend a few minutes at the beginning of a client meeting asking questions about their business and actively listen to what they say.

Let the client know you will take notes during the meeting, which indicates 1) you care about what they are saying, and 2) serves as a reminder for items that require you to follow-up after the meeting.

3. Learn about the Client's Vision of the Future

Ask a client where they visualize their business to be one, five, or 10 years into the future. Whether the discussion centers on sales, succession planning, or diversification, having this information allows you to provide relevant advice that will help clients realize their vision.

4. Provide Anecdotes and Examples

Clients need to understand the basics of finance, tax and accounting as it relates to their business. But if they aren't accountants themselves, this may not be their favorite subject. Take care to not inundate them with obscure acronyms or details surrounding new or changing tax laws. Always try to relate your message specifically to your client through conversation and with a storytelling approach. Describe similar situations and offer examples of how others handled situations successfully.

5. Offer to Work with Other Advisors

To provide the best possible services, partnerships could reasonably extend beyond your sole interaction with a client. Ask questions about their lawyer or financial planner and offer to work with them, if needed, on behalf of the client.

6. Save Your Clients Time and Effort

Like you, your clients are busy. Focus on solutions and recommendations for your clients that will be time-saving and cost-effective. Offering advice on ways they might lower expenses or increase ROI will go a long way in building a relationship and increasing trust.

7. Use Technology

Help clients to increase productivity by using technology to run their business or manage simple tasks such as the organization of an electronic calendar. Consider recommending web portal or applications (Apps) when offering time-saving advice. Plan on taking time during your client meeting to demonstrate how web portals work, or recommend certain Apps for an iPad or smartphone. Preparing at-a-glance technology handouts for clients to review back at their home or office may also help.

8. Build a Team Approach

Offer your clients an alternative contact if you are not available and there is an urgent matter that needs to be addressed. It is quite common for accountants sharing office space to have this back-up contact arrangement as an agreed-upon business practice. However, this approach becomes more challenging when you are a sole practitioner. If you do not employ any staff, consider forming this back-up contact arrangement with a local financial planner or insurance agent; a professional who offers services that complement yours. The practice of building a team approach will help improve customer service, increase timeliness of response to urgent client requests, and give clients a sense of continuity.

9. Find Out How Clients Prefer to Be Contacted

While some clients may like email, others prefer a telephone call instead. Do not make assumptions; rather, ask your clients how they prefer to be contacted. Make note of their preferences in their file and do as they prefer. If you prefer one over the other, ask for their approval to be contacted by phone or email, whichever you prefer.

10. Follow-up

After a client meeting, make it a practice to follow-up with clients to thank them for their time. This relationship-building exercise is also an opportunity to share any additional information that was indicated as a follow-up item during the meeting.

Taking a consultative approach focuses on asking questions, actively listening, and providing advice based on clients specific needs, rather than focusing solely on the services you offer. Adopting this approach may require an accountant to change how client meetings are managed, but ultimately, the payoff will result in strengthened client relationships.