1. Client Development Mastery
HK Alliance
November 2015
Presented by Art Kuesel

2. Art Kuesel, President Keynotes, Presentations, Workshops on Growth
EXPERTISE (Cont.)
Keynotes, Presentations, Workshops on Growth
Growth Plan Development/Implementation
Managing Partner Coaching
Sales & Marketing Recruiting
STREET CRED
Top 100 Most Influential Person in Public Accounting: 2014
In-house and external experience
Clients include scores of T250 Firms including a third of the T100
Frequent writer and blogger for Accounting Today
Accomplished speaker and presenter on growth trends
EXPERIENCE
Sales Executive
3 years inside $60M CPA firm
5 years inside $25M CPA firm
6 years at PDI/Koltin Consulting
2.5 years at Kuesel Consulting
EXPERTISE
Leadership and Sales Coaching
Sales/Marketing Training

4. Today’s Workshop Top Killers and Thrillers Building Trust
Developing Breadth and Depth
Recognizing Clues & Triggers
Cross-Selling
Table Activity & Group Discussion 4

5. Top Killers & Thrillers

6. My Client
2012 – 2015
R.I.P

7. Top Ways to Kill Client Relationships
Not being proactive with ideas that can help save the client money, create greater efficiency, reduce risk, reduce liability, etc.
Telling a client what you think they want to hear vs. what they really need to know
Being satisfied with a compliance relationship
Surprising the client.

8. Top Ways to Kill Client Relationships
Not having a relationship with multiple owners when applicable and appropriate
Blaming others
Repetitive mistakes
Poor internal communication among team
Not knowing the COI
Not understanding expectations

9. My CPA is
AMAZING!

10. Top Ways to Thrill your Clients
Be proactive with ideas that can help save the client money, create greater efficiency, reduce risk, reduce liability, etc. and quantify the value of those ideas
Connect often take client to lunch, coffee, drink, dinner
Add value to the relationship often
Know what is important to them professionally (know their strategic objectives, plans, goals)

11. Top Ways to Thrill your Clients
Know what is important to them personally! (family, friends, vacations, passions)
Seize opportunities that arise from this knowledge
Accommodate their schedule
Know and have relationships with their circle of influence
Be hyper responsive, acknowledge questions and inquiries quickly
UNDER promise and OVER deliver

12. Trust Building

13. Building Blocks of Trust in our World
Clients need to like you
Clients need to respect you
Clients need to have repetitive and positive experiences with you

14. Building Blocks of Trust in our World
1. Clients need to like you
Find commonalities
Demonstrate active engagement in the relationship
Show loyalty – acknowledge contributions of others
Right wrongs – “service recoveries”

15. Building Blocks of Trust in our World
2. Clients need to respect you
Having broad or deep knowledge in subject matter
Be truthful – even when its hard
Be transparent – err on the side of disclosure
Introduce others of value to them – be a connector
Be a great communicator

16. Building Blocks of Trust in our World
3. Clients need to have repetitive and positive experiences with you!
The “Amazon” Concept
Clients need several consecutive experiences with positive results
Under promise and over deliver again and again

17. Trust Scale

18. Developing MORE and DEEPER Relationships

19. Firm A
Firm A Partner
Company Owner

20. Firm B Firm B Client Partner Manager HR Director ASG Lead
Owner Owner’s Daughter Operations Leader Office Manager

21. Firm A
Firm A Partner
Company Owner

22. Firm B Firm B Client Partner Manager HR Director ASG Lead
Owner Owner’s Daughter Operations Leader Office Manager

23. Some Benefits of Relationship Breadth
Insulates against unfortunate accidents
Creates a stronger bond/greater stability in the relationship
Increases cross-selling opportunities
Fuels more referrals not only in present state but also in the future when someone leaves the client
Drives greater long-term retention
Can increase profitability
SO MAKE MORE FRIENDS!

24. Breadth: The Client Circle of Influence

25. Firm B Firm B Client Partner Manager HR Director ASG Lead
Owner Owner’s Daughter Operations Leader Office Manager

26. Common COI relationships we should seek connections with include:
Banker
Attorneys
Corporate
Trust/Estate
Employment
P&C Insurance
TPA
Industry Consultants
Financial Advisor
Key Vendors
Key Clients
Boards of Directors
Committees – Tax, audit, internal audit
Real Estate Broker
Bonding Agency (Const)
VCs 26

27. Relationship DEPTH: Would you fire your friend?
Q: In general, the stronger the relationships we have with our clients, the (easier/harder) it is to leave us.

28. It’s much easier to fire your accountant, than it is to fire your friend!
Benefits of Client Friendships:
Trust is usually higher
Fuels more referrals
Drives greater long-term retention
Insulates you against mistakes
SO MAKE MORE FRIENDS!

29. Clues and Triggers

30. Defining Clues and Triggers
Creating greater breadth and depth will expose clues and triggers! Clue: Something a client says that indicates there is a need for an additional service Trigger: An event that happens with a client that triggers the need for an additional service 30

31. Recognizing Clues/Triggers
Four Steps:
KNOW YOUR SERVICES
Be Actively Engaged in the Relationship. (Have your Antenna Up!)
Engage in Conversation
ACT & Suggest Next Steps

32. Common Clues You May Hear
I wish I could…
I’m having trouble…
This is a top challenge…
Our competition is…
I’m concerned about…
Are you seeing this with your other clients?

33. Triggers You May Encounter
Recent sale, merger, or divestiture
New facility, building, land, physical expansion, etc.
New division, product or service line, niche, focus
Owner retiring, succession to new generation
Expansion into new markets
Rapid growth/decline in number of employees
Significant changes in cash flow, payables, receivables, profit
Addition or subtraction of a key competitor

34. What to do when you hear a clue or recognize a trigger
Engage in the Conversation
How is that affecting you?
What are the biggest challenges that come along with that?
What do you see as the opportunities that surround that situation?
What are you doing about it?

35. What to do when you hear a clue or recognize a trigger
ACT
1) I believe we’ve helped other clients with similar challenges, can I introduce you to XYZ?
-or-
2) I believe we can help you, but I’m not the expert on it. Can I get back to you later today or tomorrow with more information?

36. Clues/Triggers
Clue/Trigger
CPA Service
Business Valuation

37. SALT & International Tax
Clues/Triggers
Clue/Trigger
CPA Service
SALT & International Tax

38. Succession & Exit Planning
Clues/Triggers
Clue/Trigger
CPA Service
Succession & Exit Planning

39. Clues/Triggers
Clue/Trigger
CPA Service
Cost Segregation

40. Clues & Triggers Clue/Trigger CPA Service Offering
1. CFO is looking to hire a controller
2. Controller quit
3. CFO quit 40

41. Cross-Selling

42. If you are bringing new ideas to your clients you are being…
Proactive
Not proactive

43. If you have a compliance relationship, you are likely being proactive with…
Higher value services
Lower value services

44. The more opportunities you have to delight your clients with high value services…
The more likely you are to receive referrals
The less likely you are to receive referrals

45. When clients switch CPA firms a common complaint is…
My firm was just too proactive
My firm wasn’t proactive

46. Being proactive and cross-selling creates..
Stronger client relationships
Weaker client relationships

47. Who is generally easier to sell to?
Client or
Non-Client

48. What percentage of your annual growth can come from cross-selling?5%
15%
25%
33%
50% or more

49. Art, do my clients really want me to approach them with new services?
When asked if buyers had an interest in one or more additional services from their current firm XX% responded YES…
…but when asked if buyers understood the full range of services offered by their current firm only XX% responded YES.
Implication: We are missing out on valuable opportunities to educate our clients about our services, and cross-sell additional business
(Source: Hinge Marketing)
68, 36 49

50. Art, do my clients really want me to approach them with new services?
When asked HOW the client would prefer to learn about a new service that could benefit their business, XX% responded they would prefer a face-to-face meeting with senior leadership to discuss recommendations
Implication: Our clients want
us to make recommendations
that will help their business
(Source: Hinge Marketing) 50

51. AND, Why is Cross-Selling Absolutely Critical to Long-Term Client Relationships?

54. The Cross-Selling Matrix
SAMPLE CPA FIRM
Client Service Matrix
Client Name:
Client Number:
Engagement Partner:
Engagement Team Members:
Service Areas
Yes
In discussion
Not Applicable
In-house
Declined
Assurance Services
Audit
Review
Compilation
Internal Controls Review
Agreed-upon Procedures
Financial Projections
Tax Compliance
Tax Return Preparation (personal and business)
Integrated Tax and Investment Advisory Planning
IRS Issues
Sales and Use Tax Consultation
FASB 109
State Tax Issues (multi-tax)
Employee Benefit Plan Consultation
Tax Planning 54

55. The Cross-Selling Matrix is…
An assessment of opportunities based upon the clients’ current and potential services that allows us to:
PLAN our relationships with our best clients
Be PROACTIVE with service offerings
Create greater stickiness and client retention
Deliver greater value to clients
Improve profitability 55

56. The Cross-Selling Process
1. ID a “top” relationship with general opportunity for growth
2. Review service offerings
3. Complete the notes section, focusing on opportunities
4. Build your action plan for each opportunity identified
5. Plan your approach with each client 56

57. Table and Group Discussion

58. Table Discussion [A]
Share your most effective client development techniques amongst your table:
What works well?
Why does it work?
Is it individually driven or institutional in nature?
Why don’t we do more of it? 58

59. Client Development Plan [B]
Create a development plan right now for your top five clients! 59

60. Thank you!
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