Marketing Week 2009
Issue No. 48 - August/September 2009
Clients want innovation
What’s the best response a financial service provider can make to a downturn? Cut rates Adelaide-based Marc Makrid & Associates set out to explore this in a client survey which highlighted the mismatch between professional assumptions and client wishes.
“The core theme of my presentation is how the way businesses choose to look at the current business climate greatly influences success. In essence, is the glass half full or half empty?” Marc says.
“I conducted a survey of 25 businesses to determine what their attitude towards accounting services was
during these difficult times. More specifically, I wanted to understand client attitudes and behaviours from their perspective.
“Was it all “doom and gloom” or did it present opportunities that were possibly being overlooked due to predisposed mindsets that prosper during difficult times?”
Marc will discuss the results in detail but the gist is that finance industry professionals were challenged to move with their customers’ needs.
“This experience sticks out because the results of the survey were quite different and revealing when compared to the general confidence being expressed by the accountants,” Marc says.
“This is not to say that pessimism dominated, but there was certainly a disproportionately lower level of business-building confidence compared with the ‘real picture’ from the clients’ perspectives.
“What it demonstrated was the need to innovate solutions around changed circumstances rather than conclude clients could not afford or would not be interested in spending more in fees to improve their business. It also demonstrated that during difficult times, clients turn to those they trust the most to help them and also to seek inspiration.
“A third observation (reflected by constant references to clients being more challenging on fees being charged) demonstrated the importance of avoiding a mindset with a focus on the cost...
