Advisers Not Motivated to Survey Clients – Poll

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Will your advice business be undertaking a client satisfaction survey in the next 12 months?

  • No (64%)
  • Not sure (22%)
  • Yes (14%)

Our latest poll results appear to reflect a lack of interest among advisers in surveying their clients’ satisfaction levels.

This apparent lack of interest is reflected in the results to date, in which only 16% of those voting so far have indicated they will be seeking to undertake a client satisfaction survey in the next 12 months. In a rare result, the ‘Not sure’ vote extends to almost one in four advisers (24%), while 60% are saying they will not be seeking client feedback in the next year.

As we implied last week, simply because an advice business will not be surveying its clients on satisfaction levels in the next 12 months doesn’t mean the business isn’t already aware of their feedback and is responding accordingly (see: …Client Satisfaction Feedback).

Nonetheless, Business Health continues to emphasise a clear finding from its 21 years in providing services to advice businesses that it seems around 60% – 70% of advice practices are operating without an objective understanding of how satisfied – or not – their clients are (see: After 21 Years – The Client).

This poll result sits alongside our most recent poll, based around another finding in Business Health’s 21-year journey, which demonstrates that only a minority of advice businesses seek external counsel in facilitating business improvements:

So, it seems the majority of advice business in Australia are neither seeking feedback from their clients nor pursuing external assistance in helping to build a better business. Does this sound like you and your business? Do these results represent an apparent lack of motivation to do what needs to be done? Or is it less critical to your advice business to take one or both of these paths?

Our poll remains open for another week and we’ll look forward to any comments you may wish to share…