I had the pleasure recently of reviewing the Business Health Catscan – client survey results of one of my coaching clients.
I arranged this for him as it had been some years since he had completed a similar exercise (which was conducted internally). This would be the first time the survey had been outsourced to a group like Business Health who have over 20 years of experience in this field. I should say that I was intrigued to see these results. I knew this was a very good business, good financial results, professional in every way, good staff and loyal clients.
For those who have not attempted such a comprehensive client survey, there are nine categories covered. Ranging from professionalism of Business Practice, implementation of solutions, range of services & communication and standard of support staff amongst others. The Business Health Catscan result stated this was an Excellent Report!
- Response rate 44% (ahead of the national average by several % points)
- Overall results well ahead of National averages
- Top quartile ratings in 6 of 9 Key Performance Indicators & second quartile in the remainder
- Over 70 comments made by clients in response to questions – most were very favourable
Referrals – 88% of respondents indicated they were prepared to refer.
Opportunities for Improvement
The financial planner and his staff have workshopped the survey responses and come up with an action plan to make improvements.
It was very interesting to see 88% of clients were willing to refer, however no where near that number had referred in the last 2 years! What an opportunity for the practice. We have worked through this opportunity and developed the following actions.
- Refine the financial planner’s referral process with clients
- Set objectives around referral conversations at review
- Be more specific about the type of referral they are looking for
Develop referral profiles that may be shared with clients.
What a great outcome!
A client survey has enabled the financial planner to focus on and improve process which will revitalise future business growth!
If you would like to work with someone to help improve your business, please contact me on firstname.lastname@example.org or
call 0488 403139.