The future is active client listening

How are professional services firms creating and sharing the insights they need to strengthen their relationships, reputations and revenues?

This is the question we looked at in this year's Future of Client Listening research - and the results were fascinating.

5 key headlines

• Firms are seeking out more ways to hear from more clients - client listening is becoming omni-channel, with some firms having as many as 10 different client feedback channels.
• But the resulting data remains disconnected - these feedback channels aren't yet integrated, which leaves the client's voice stuck in different silos. Only 15% of respondents said their firm has a centralised database for client insights, while 44% said at least some of these insights were stuck in people's heads and notebooks.
• There are opportunities for listening earlier in the client journey - most firms are still focusing their listening on end of matter/project conversations or periodic relationship reviews. As a result, it's often too late to use the insights to benefit the clients that shared them. 32% of respondents said their firm was more forward-looking, and collected feedback during a matter so that they could respond quickly to client feedback by reinforcing positives and addressing any negatives.
• Senior Management are missing out on regular insights - as a result of the siloed data, insights are more likely to be used tactically than strategically. However there are bright spots, with several firms sharing client listening insights across their firm. 17% of respondents said insights were shared with the leadership team and used to drive action across the firm.
• Active client listening requires firm-wide buy-in - professional services firms are shifting from passive to active client listening. But this shift is in mindset/culture, not just process/technology. Forward-looking firms are putting the voice of the client at the heart of their strategy, using it to inform decision-making and measure how well the firm is delivering on it's value proposition.

The active client listening journey

Embracing active client listening is a journey, and firms are scattered across the map. In response to a question about how their client listening programmes had evolved over the last two years, firms highlighted 4 stages:

(1) We are getting started.

"Gone from nothing to slowly implementing as more partners get on board".

More firms are starting the journey each week, and celebrating getting going and getting closer to clients. This doesn't happen overnight, and often starts by finding your internal champions and quick wins.

(2) We are increasing engagement.

"embedded the process across the business which was well received and had good engagement"

Once early momentum has been achieved, client listening teams are increasing the scope by getting more partners and service lines involved. At this point, partners often have to opt their clients out of the feedback process, rather than give permission for them to be included.

(3) We are adding more structure.

"now use an automated and systematic approach to collecting views"

As firms listen to more clients more often, the manual processes start to break down. Partners are looking for more frequent insights to support their decision-making and service delivery, but the manual process of finding, analysing and reporting takes too long - and experienced teams are wasting time data wrangling rather than adding value and momentum to the resulting insights. Structure is coming through integrations that bring data sources together, and elements of the analysis and reporting being automated.

(4) We are going global.

"Now have a global client listening programme"

'Global' means that firms have fully embraced a consistent and 'always-on' approach to client listening. For the big firms this means replicating their programme internationally. For national firms it means that the voice of the client is driving agile and evidence-based decisions right across the firm. It also means they're applying the same approaches to how they listen to their people and their wider market.

How does your firm compare?

So where is your firm on the journey to active client listening? Are you getting started, increasing engagement, adding structure or going global?

To get a better view of how you compare, drop me a message. I can:

• send you a copy of the overall report
• send you a link to the diagnostic, which will overlay your responses on the research data.

Finally, thanks to our fantastic partners who helped us complete this research: Allan Carton at Carton & Co , Claire Rason at Client Talk and Anna Lake

MyCustomerLens | always-on listening #ClientListening #b2bmarketing #professionalservices