Acquiring and retaining your small business and accounting customers
Driving Growth in Accounting Software: Insights from AccountEx 2024
Accounting software technologies are expected to continue experiencing significant growth. However, to capitalise on these growth prospects and ensure sustained competitiveness, providers must address the sector’s inherent challenge: customer loyalty. Our research suggests a significant portion of accountancy and SME companies are actively seeking new and improved solutions.
Understanding User Pain Points: Identifying and addressing user pain points is crucial. Providers need to understand the factors that influence customers to switch software and the criteria they use to select new products. This knowledge is essential for retaining existing customers and attracting new ones.
Survey Insights from AccountEx 2024: Conducted by KAE at the AccountEx 2024 conference, this survey reveals the push and pull factors driving small businesses and accountancy firms to join or leave accounting software providers. Key insights include:
- Push Factors: Common issues prompting users to leave their current providers.
- Pull Factors: Features and benefits that attract users to new solutions.
- Product Selection Criteria: What users prioritize when choosing new software.
Implications for Providers: Understanding these factors can help providers enhance their offerings, improve customer satisfaction, and boost retention rates. By addressing user pain points and meeting their needs, providers can secure a competitive edge in the growing accounting software market.
