Separate Your Tax Business From Competitors Down The Street
Competition is important to tax businesses because it keeps them on their toes. Why are they on their toes? Because they’re trying to set themselves apart from their competitors; and in their efforts to do so, services and offers improve, and standards are raised.
If you want to attract more customers and grow your tax business, you have to distinguish your business from others like yours. There are some proactive efforts you can take to set yourself even further apart from competitors. Here are 6 ways of doing just that.
1. Focus on a Niche
One effective way to separate yourself from your competition is through niche marketing . By specializing in a specific product, service, or type of audience, you can get a leg up over your competitors. You might serve a broader audience as well, but a specialization can help distinguish your tax business.
For instance, let's say you participate in a chess club, church group, or even bingo event in your community. You can start to network in these specific groups, and become the tax expert for them. It doesn't even need to be you! You can have some of your employees choose a hobby they're curious to learn more about, and explore those new niches.
2. Support A Cause
One of the simpler ways to stand out from your competition is to incorporate your own personal values into your tax business. Take it a step further by supporting a specific cause you care about. You could do this by donating a portion of your proceeds to an organization, directly providing goods or services to a population in need, or getting your team to volunteer at that organization once a month.
Supporting causes you care about can help to highlight the values of your company—not just the value of your tax business—and set you apart from competitors.
3. Be Spontaneous
Surprises are a fun and effective way to set your tax business apart from your competitors. You can just keep it small and simple.
Send holiday greetings throughout the year to stay memorable, conduct raffles before tax season, or send a random customer a coupon in the mail. Remember how effective word of mouth can be. These moments and gifts serve as an opportunity for them to share their experience with their inner circles.
Because tax businesses focus on Jan - April, the impact needs to be made in the off-season. The connection and the rapport building needs to be made when they least expect it. That way, it maintains it's memorable impact. These small and simple yet memorable activities can build your reputation as a thoughtful tax business and distinguish you from others in your industry.
4. Provide Extraordinary Service
Every tax business strives to provide exceptional customer service. However, when times get crazy and unexpected occurrences happen, it can be easy to make exceptions and excuses. One strong but overlooked way to set yourself apart from competitors is by going out of your way to provide exceptional customer service.
Sporadic moments of accommodating your customers will pick up no traction; and one negative customer experience can cancel everything out. By consistently going the extra mile to create the best experience for your customers, you will ensure that you—and not your competitors—stay in the forefront of their minds, no matter how good their offers get.
5. Focus On Your Key Benefits
Think about what your tax business is really good at, the core features that set you apart, or what specific pain points do you eliminate with customers. Then narrow them down to what you perform, achieve or adhere to 100% of the time.
Some examples include:
• Using services from a particularly special source.
• Using a new technology or trusted method.
• Being the first or only tax business to use it.
• Handcrafting or customization.
• Processes that support a social or environmental cause.
The key is to think in terms of extremes: what you do every time, what you always provide, or what you never do. These are the attributes that can truly distinguish your tax business from your competitors, and should be included in your messaging and marketing collateral.
6. Create A Powerful Offer
Another approach in getting buyers to choose your tax business over your competitors is to reduce the risk or hesitation they face when it comes to working with you. Think about the immediate and long term concerns a potential customer might have when choosing the product or service you provide, and see how you share solutions.
Tax businesses need to understand that the single most important thing for taxpayers is maximizing their tax refund and adding value. That means, tax businesses need to be knowledgeable about tax law updates and how it affects their clients refund specifically. By proving time and time again that you've maximized a clients refund and had an amazing experience, soon, more people will know how thorough and helpful you are.