You have a great firm, it’s growing as you’ve mastered your sales process and you get good referrals. However, could you improve your onboarding process? Does the way you welcome new clients mean they immediately think about passing you more leads, or is it a chore that takes hours of your team’s time?
At this time their entire trust in you is based on promises that you, and possibly some of your other clients have made. Trust is built up by (over) delivering on promises you make. Some of those promises can be made, and delivered on, before the first ‘work’ is done. It’s all in the series of things you do with them over the first weeks.
What’s an onboarding process?
Onboarding is how you welcome new clients into your firm. It’s the time when they are most unsure about you, and you can influence the way you’ll work with them for years. Get it wrong, and you’re likely to reduce the profit you make from them, before doing any chargeable work!
You’ll be addressing their questions and concerns, ensuring they understand the services available to them, getting them set up on all your systems (as well as all the regulatory stuff).
Most small firms know the regulatory stuff. Some manage it well and in others it is a bit hit and miss. In many places it takes longer than it should, doesn’t make clients feel really special and rarely gets them trained up to help you.
Key parts in the onboarding process.
- What are your client’s needs? These should mainly come from the sales meetings you had with them, and most are probably in the offer letter. But have all your notes made it into your CRM, so your whole team will be aware (and you won’t forget?). What are their preferences for small (and irrelevant things), perhaps including biscuits?
- Team briefing: Is all the information going to your team, including the aspirational stuff that is still in your head? Things like they have 3 other companies and we want to get them too, or they are really worried about timeliness as they had to pay fines to HMRC last year.
- What’s in the information flow? You have, no doubt, got a checklist to ensure the main legal documents are returned. But, who chases it up and when? Do you have a process to flag up outstanding ones, and what parts of it are automated (emails and task reminders can happen automatically and save a lot of time). Some firms not only send emails, but also have one or two relevant staff call them to introduce themselves. It’s a good time to brief them on how you manage their year-end work, how you’ll chase them up and make sure you have a superfast turnaround time on their work.
- Making them feel really special? In your sales meetings you probably explained the onboarding process. What expectations did you leave them with, and are you exceeding them? If you are only just about meeting their expectations at this stage, you’re setting up a problem client. Are there simple little things that could help you exceed expectations now? From a ‘welcome pack’ (done differently, rather than a simple list of all the staff names), up to a small gift, or handwritten welcome card (personalised with a team/ office/ motivational photo on the front).
- When does your boarding process end? One firm deal with everything promptly, but still consider them new until they’ve had their first annual returns. In that way they get special hand-holding until their confidence in you is based on results.
Managing the onboarding process.
Having somebody, not you, who knows where every client is in the process; coordinates the response from your firm, chases the client and flags up problems sounds obvious – but many firms just tell a member of staff to do that. There’s no delegation, follow up, or discussion in weekly meetings. If your coordinator went off sick, where’s the data kept, is it electronic, (or at least available) and managed seamlessly?
How do you manage your onboarding process and how will you keep improving it?