The Survey Says: The Top 10 Reasons Why Clients Leave

Approximately 36% of business clients are “somewhat likely” to “very likely” to switch accounting firms within the next year, even though they’re generally satisfied with their current firm, according to recent CCH research.

The 2010 CCH Accounting Firm Client Survey reported competition is more intense and aggressive as firms ramp up their efforts to poach clients from other accounting firms: 55% of business clients report they have been approached or prospected by other firms within the last year, indicating that firms across the board are becoming more proactive in attempts to entice new clients.

Just 48% of clients reported receiving formal client-satisfaction surveys from their firms last year. This shows that many firms are missing the opportunity to collect valuable information to help retain clients and head off attempts by competitors to lure them away.

The Top 10 Reasons Clients Leave…

The firm did not regularly check with me on my changing needs.

Staff were not able to efficiently find the information needed to deliver services I needed.

I believe the firm was charging more than the value I was receiving.

It became apparent that the firm was not leveraging technology to deliver the best service possible.

The firm did not keep me up-to-date on regulations that directly affected me.

I became concerned about the firm’s financial stability.

The firm no longer specialized in the types of services I needed.

I lost trust in the ability of the firm to deliver the quality services I needed.

It became apparent to me that the firm was not acting as efficiently as it should.

The firm had difficulty recruiting or retaining talented employees.