Our client—a national tax consulting firm—found itself facing a potential existential threat when a lower-priced, digital competitor entered the marketplace.
In order to assess the danger, we needed to speak with our client’s customers, asking them questions that investigated their needs, their current satisfaction, and their existing knowledge of and perceptions about the new competitor.
While the present threat was low—due to high satisfaction with our client’s current service and limited awareness of the competitor—the research identified potential risks down the road. Further, we found those risks could be avoided with proactive attention to customer service, the addition of some digital tools, and a commitment to staying at the leading edge of knowledge in the tax consulting space.
The research findings both reassured our client and provided a blueprint for the future.