Having worked in the tax and accounting field, I have had the pleasure of working with many tax professionals. One topic that often arises, in particular at trade shows, is tax software. You have your loyal Drake followers, your Lacerte advocates and everything in-between. Value is one term you hear a lot when you are in the Drake circle. For Lacerte, it’s a workhorse that is complete and very efficient in regards to entry style. The fact is that renewal rates in the industry are very strong and usually run in the 95% range across the board. On occasion, you will have a tax software company make a mistake or two that cost them a few points off their renewal rate but in general the rates stay very stable. The point I want to discuss today is for new preparers or preparers that have finally realized that consumer DIY software is not the right fit to run a growing business.
The most successful professionals are those who keep up with the changing trends of their industry. For tax professionals, however, this can be a difficult feat to manage. In the ever-changing environment of tax work, here are a few tips to keep you informed of any tax updates.
Email marketing remains one of the most powerful lead generating tools we use today. If they've provided you with their email address, then they've showin interest in your product. And addressing your audience quickly and effecitvely drives growth to your tax office. Why is it so great? Almost everyone has an email address, and more importantly, they check it EVERY...SINGLE...DAY. Not to mention those that check every 5 minutes for fear of missing something. Checking our emails have become very habit-driven, and can even distract us frequently throughout the day. That’s where you come in. You’re the healthy distraction they’ve been looking for. The problem is that most tax pros simply send the email, hope to get a response, and then figure out what to do afterwards. Big mistake.
I think most people are familiar with how Uber and Lyft have changed the car service industry. They provide a level of convenience and more importantly, make you feel like you aren’t getting ripped off. Both Uber and Lyft saw a need that they’re customers can enjoy, so...how can we take a lesson or a play from their book? Before I answer this question, think about what your customers need or would enjoy during tax season. More of your clients and potential clients are starting to see self-preparation as the easier and cheaper alternative. You clearly have more resources and knowledge to assess their tax and financial needs, but is that enough? Let’s take a look at Uber, and see how partnering up with them provides the convenience we’re looking for.
Before you use your terminator focus to find some good freebies, ask yourself why you’re attending the IRS trade shows. Unfortunately, not enough people ask themselves that, and fail to have a clear understanding of their goals for the event. It’s almost like walking into a networking event that you paid for, grabbing a couple of beers, maybe some nachos, and then desert…if you’re lucky. Instead, buy a 6 pack of beer, Tostito scoops, some good ole Ben and Jerry’s, and call it a day. Here’s my point. If you’re going to the trade shows and focused on the freebies, you’ve already lost.
The purpose of this blog series is to share creative ways to attract and gain new clients (more leads), so that you can use them in your own business. Our previous post touched on tax tips to help market your tax services , and as we continue to gather leads, it's important that we work together in seeing what works and what can be improved. That way, tax professionals can be more effective and focus on the strategies that will help you improve your tax business.
It might seem like tax season just finished, but it's already time to start gearing up for next year. Now is the perfect time to start looking for new clients to boost your next tax season. Starting now gives you time to reach out, establish relationships, and set a plan in motion for next year's tax clients. If you are stuck on ways to reach out to new customers and let them know about your services, check out these tax tips!
We’ve been talking a lot about focusing on people’s attention and the importance of challenging ourselves in order to become successful. On one side, we see how Facebook serves as a great platform to share your information and content with everyone. The other side reflects your ability to embrace change and try new things. Still, I think it’s even more important to dive deeper with concrete examples and ideas of how to engage your audience.
With that said, ask yourself how much video content you’ve displayed. Do you think it’s worth it? Are people really paying attention to it?
If you’ve ever been on Facebook, sometimes you can’t help but wonder how a video received so many views. But is it really that hard to imagine something very funny going viral? Not really. When it comes down to it, they found a way to connect with people.
They found a way to be different.
So that’s what we’re going to do. I’m going to share some ideas of how to increase video engagement, and we’ll see who’s brave enough to try it themselves.
The tax industry is very interesting, but I think for reasons that may be different from your own. It has tradition, it has a process, and it sticks to its deep roots. Every year tax professionals visit trade shows, hear what people have to offer, and then slowly prepare for the December time frame. It’s just like clockwork.
So why do I think the tax industry is interesting? Well, because no one seems willing to disrupt it.
Marketing can be overwhelming for many businesses, primarily because there are so many platforms to do it in. Still, I think there is one fundamental truth as it relates to marketing and your business, and it comes in the form of a question. Where is my client’s attention? It’s such an important observation, and unfortunately gets overlooked quite often.
Think about that question for a second. If you had no idea about marketing, where do you think you’d focus your attention?