Ways To Support Your Clients In The New Normal

 In this blog, you will learn ways to support your clients in the new normal. That is to say, the disruption created by the pandemic has been challenging. By putting steps in place to support clients and offer value, your accountancy practice will be able to help them. In addition, you’ll also be able to position your practice and your team as trusted advisers. You might be wondering how the previous year affected businesses. After research, it was revealed that the biggest challenges for businesses are as such:

• Adapting To Restrictions (65%)
• Reduced Demand (44%)
• Cash Flow Problems (39%)
• Supply Chain Disruption (32%)

Below are some ways to support your clients in the new normal:

•  Provide The Right Knowledge

It is important to understand the client’s knowledge of some areas around the emergency coronavirus government legislation might be limited. That is to say, you must be prepared to fill that gap.

• Communicate Regularly

Ensure you keep in touch with your clients, so they don’t feel abandoned. Some of the conversations you have could be more emotional than usual and will certainly cover different topics. In addition, your ability to provide an overview of a company’s finances and to apply this to the emergency offerings from the government and elsewhere has never been more vital.

• Offer Clarity Around Financial Support

Help your clients understand what financial support is available to them, and the measures that are at their disposal such as the Job Retention Scheme, the forthcoming Job Support Scheme, loan and grant offerings, and HMRC’s Time to Pay. In addition, it is a good idea to segment your client base based on who is likely to require more help or why they may need certain kinds of funding or support from the initiatives announced by the government.

• Support With Loan Applications

Be prepared to offer the support clients need to get through grant or loan applications. For example, you may need to provide key financial reports for them. Some of these applications are going to be vital for their continuation in these trying times and are therefore vital for the remaining as a client for your firm.

• Provide Technical Support

With in-person client meetings on hold, for now, your clients will be working with you remotely to go over their financials. If they need support with their accounting software to do this, you’ll be in a good position to help them. That is to say, by providing support around this area, you could offer a valuable service to your clients. Any help you can offer will be undoubtedly warmly received.

The concept of a trusted adviser has never been more relevant. That is to say, as your clients seek guidance during difficult times, offering support to help their businesses keep moving is vital. By going the extra mile to provide the assistance that your clients require. You will be helping them to get through times of uncertainty. In addition, you will also give your practice the best opportunity to keep thriving both now and in the future. Now you know a few ways to support your clients in the new normal, let us move forward.

Adapting Customer Experience

For vulnerable individuals and the customer teams that serve them, it has also forced a rethinking of what customer care means. Suddenly, examinations of customer journeys and satisfaction metrics to inform what customers want has given way to an acute urgency to address what they need. That is to say, a customer’s interaction with a company can trigger an immediate and lasting effect on their sense of trust and loyalty. A primary barometer of their customer experience will be how the businesses they frequent and depend upon delivering experiences and service that meets their new needs with empathy, care and concern. In addition, now is the time for customer experience leaders to position themselves at the forefront of the longer-term shifts in consumer behaviour that result from this crisis. Keeping a real-time pulse on changing customer preferences and rapidly innovating to redesign journeys will be key.

Let us learn in detail about some more ways to support your clients in the new normal.

• Focus On Fundamentals: Care & Connection

Now more than ever, people need extra information, guidance, and support to navigate a novel set of challenges, from keeping their families safe to helping their kids learn when schools are shut down. They want a resource they can trust, that can make them feel safe when everything seems uncertain, and that offers support when so much seems to be overwhelming. A baseline starting point is ‘staying true to company values and purpose.’ Research shows that 64% of customers choose to buy from socially responsible brands. The way organisations step up to play this role for their customers, their employees, and the broader community is likely to leave lasting memories in customers’ minds. Some more ways to do that is by taking care for:

• Your Customers

• Your Employees

• The Community

• Meet Your Customers Where They Are Today

Customers’ normal patterns of life have come to a halt. Simple activities like a trip to the grocery store or dining out with friends are now difficult, risky or even prohibited. Overnight, demand patterns have shifted. Overall online penetration in China increased by 15-20%. In Italy, e-commerce sales for consumer products rose by 81% in a single week, creating significant supply-chain bottlenecks. Customers need digital, at-home, and low-touch options. Digital-led experiences will continue to grow in popularity once the coronavirus is quelled, and companies that act quickly and innovate in their delivery model to help consumers navigate safely and effectively will establish a strong advantage. That is to say, here are some ways to do that. For example,

• Accelerate Digital Options

• Bring Your Business To Customers’ Homes

• Make Physical Operations Touch-Free

• Build Capabilities For A Fast-Changing Environment

Maintaining a strong customer experience in crisis requires rapid research to understand changing dynamics and new pain points as well as agile innovation to address them. Customer leaders who master that approach will create value for consumers in high-priority areas and in an environment of increased competition. Here are some ways to help them achieve that. For example,

• Keep A Real-Time Pulse On Changing Customer Preferences

• Listen To Employees

• Adopt Agile Innovation

• Reimagine Customer Experience For A Post-COVID-19 World

Changes are expected in consumer preferences and business models to outlast the immediate crisis. This has begun to play out in China, where there has been a 55% increase in consumers intending to permanently shift to online grocery shopping and an increase of 3 to 6% in overall e-commerce penetration in the aftermath of the crisis. Some consumers will be trying digital and remote experiences for the first time. You can adapt to this change by:

• Finding Savings Without Sacrificing Experience

• Reimagining Your Brick-And-Mortar Strategy

Now you know some ways to support your clients in the new normal, we hope it helps you.