While traditionally associated with retail, understanding share of wallet is also crucial for maximizing the profitability of professional services firms. Clients have preferences, and your firm should ideally be their go-to choice. However, repeat business and client satisfaction alone don’t tell the whole story. If clients are turning to competitors for a significant (or any) […]
Tag: Professional Services
“Exceeding Expectations”: Why You’re Wasting Wins With an Empty Promise
We’ve all seen it on countless competitor websites: “We strive to exceed our clients’ expectations!” It’s a seemingly innocuous statement, a badge of honor in many industries. But what if there’s a better approach? What if exceeding expectations, while well-intentioned, actually undermines your value proposition? This article challenges the traditional “exceeding expectations” mantra used throughout […]
Best Practices for Sending Customer Feedback Surveys
In the world of customer feedback surveys, there exists a prevalent misconception that merely soliciting input from customers is enough to drive business growth, enhance customer experience, and align with expectations. While customer feedback is undeniably valuable, this belief oversimplifies the process and ignores the nuanced strategies required to effectively gather and utilize feedback. To […]
The ROI of Implementing a Customer Experience (CX) Strategy
I heard a speaker say recently, “There is no reason for any firm to apologize for its need to make a profit. ”He was right. Profitability is essential to the health of any business. Furthermore, it’s necessary to enable a business to continue to grow and provide jobs for its employees as well as service […]
Digital Transformation and Client Experience
Integrate client experience management into your digital transformation initiatives to accelerate the benefits and returns of each. Professional services firms are realizing the importance of technology and data to the success of their business. The professional services sector is seeing a wide performance gap between those firms that are using technology well, and those that […]
Increase Profitability Through Strong Client Experience & Employee Experience
Want to increase your organization’s profits? Did you know that the average annual growth rate of experience-driven businesses is 15% higher than companies that do not intentionally create a positive experience for their clients? The keyword here is intentionally. Your clients are already having an experience working with your firm. The only question is, what […]
Where is Your Firm’s Client Experience Focus?
In October’s blog, CX & EX: Vicious or Virtuous Cycle, I discussed the importance of being intentional about your firm’s client experience (CX) and employee experience (EX) efforts. Are you an engineering, architecture, construction, legal, accounting (fill in the blank here) firm? Does your company try to provide a positive CX OR are you a […]
Three Steps to Retain High-Performing Talent
“What do you mean it can create a negative outcome? If I at least try to improve my employees’ experience, will it not at least benefit them and the firm a little bit?” This was the comment from a COO of a 400-person firm I shared in last month’s blog, CX & EX: Vicious or […]
Client Experience & Employee Experience: Vicious or Virtuous Cycle?
You’re a believer. In this competitive marketplace, you see the positive ROI numbers firms that have implemented Employee Experience (EX) and Client Experience (CX) as an operational discipline are achieving. And you want the same success trajectory for your firm. So, you do your homework, and your firm embarks on a new CX initiative with […]
Increase Referrals With a Client Perception Study
“You guys are great. The slowdowns are all on my end.” “You provided us exactly what we needed.” “Mary is great to work with and always responds promptly.” It’s a funny thing about feedback. So many of us associate feedback with hearing what we’ve done wrong or how we missed the mark. When the reality […]