december2022january2023 - 35

BRIDGING THE GAP
Creating an Effective Client
Intake Process
JON HUBBARD
Shareholder/Consultant, Boomer Consulting, Inc.
MANY FIRMS FOCUS on improving their client onboarding process, but there's a crucial
step that must happen before client onboarding: deciding whether to take the client. This
is a step we like to call client intake.
Despite its importance, few
firms put much energy into optimizing
their client intake process. They
identify their ideal clients, spend
time packaging and pricing their
services and hone their marketing
messaging. But with a weak intake
process, they bring in clients that
aren't the kind of clients they want
or need to grow the firm or meet
their goals.
Below, I share four steps for
improving your client intake process
that will allow you to increase your
conversion rate for ideal clients and
ensure you're not bringing in clients
who aren't the right fit for your firm.
STEP 1:
DEFINE THE TYPES OF
CLIENTS YOU WILL (AND
WON'T) TAKE
It's common for every partner in
the firm to have his or her own
definition of the ideal client. For
example, one might only accept
1040 clients if there's a related business
return, while another accepts
any individual tax client willing to
pay a minimum amount. The problem
is, all those clients utilize the
same firm resources, so you need a
firm-wide definition of " acceptable
client. "
What services do those clients
purchase? What is the anticipated
annual fee? What industries or
niches will you work with? What's
the client's minimum annual revenue
to work with you? Get very
clear on the types of clients you
will and won't take so there's less
confusion amongst partners and
staff.
STEP 2:
CENTRALIZE THE INTAKE
PROCESS
When every partner and manager
handles the intake process for their
own referrals and prospects, it's
tough to adhere to the rules established
in step one. You'll have much
better results when you centralize
the process as much as possible.
Bring in a person or a small
team to pre-screen clients. When a
potential new client calls or fills out
an interest form on your website,
they're routed to this team for
pre-screening.
Your pre-screener doesn't have
to be an accountant-but he or she
will need to ask questions based
on the criteria you've established.
Many firms leverage marketing or
admin team members for this step
in the process. Then, if the prospect
meets these basic qualifications, the
pre-screener can schedule a meeting
with a partner or manager who
can dive deeper into the prospect's
needs.
STEP 3:
DETERMINE HOW YOU'LL
COMMUNICATE TO
CLIENTS YOU WON'T
ACCEPT
If you do steps one and two and end
there, you'll still have less-thanideal
clients slipping through the
cracks. This is because it's awkward
to reject a potential client without
a script.
Develop clear communication
and messaging for wrong-fit clients,
including where to refer them.
It can be as simple as, " Thank
you so much for reaching out. After
reviewing your info, we believe
you'd be better served by {XYZ firm}.
We're focused on {your focus niche
or services}. If at a later date you
need those services, we'd love to
have another opportunity to work
with you. "
While we support establishing
a minimum price, that should be
an internal metric rather
than
something you communicate to
prospective clients.
STEP 4:
WATCH OUT FOR
ASPIRATIONAL CLIENT
ACCEPTANCE
We recently worked with a firm on
their strategic planning, and client
acceptance was one of the issues
that came up during our discussions.
One partner in the firm was
taking on all kinds of wrong-fit
clients. When asked about it, they
said they accepted these clients
because they could turn into ideal
clients.
However, when we asked how
many of those wrong-fit clients
had blossomed into ideal clients,
they couldn't name one. Yes, they'd
increased fees for these clients
over the years, but they were still
underwhelming and required a lot
of work for a very small percentage
of the firm's annual revenues.
Watch out for the tendency
to accept wrong-fit clients hoping
they'll win the lottery or be the
next unicorn startup. If they're the
wrong fit today, they reduce your
firm's capacity to go after and serve
today's ideal clients.
Many firm leaders have been
guilty of growing their firms in a
way that makes work and life more
difficult for them and their team
members. Any firm can grow-the
goal is to grow smarter, not harder.
A strong client intake process
ensures you achieve the right kind
of growth. ■
DECEMBER 2022/JANUARY 2023 ■ www.CPAPracticeAdvisor.com
35
Photo 117640247 © Leowolfert | Dreamstime.com
http://www.Dreamstime.com http://www.CPAPracticeAdvisor.com
december2022january2023

Table of Contents for the Digital Edition of december2022january2023
