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    Refund Transfers: The Most Effective Marketing Strategies

    May 13, 2020 - 4 min read

    Creating A Marketing Plan For Refund Transfers

    Once refund transfer services are fully implemented and enabled through a preparer's tax business, it comes time to develop a marketing plan that effectively spreads the word and actively engages consumers and potential customers.

    Like with any business strategy there are a multitude of marketing tactics that can be effective - finding the right combination to create a comprehensive marketing strategy that drives metrics and conversion rates, is the key to optimizing a target market vs. using a vague ‘one-size-fits-all’, or in this case specifically: refund transfer marketing. 

    Marketing Refund Transfers

    Before jumping into marketing tactics and strategies read Refundo’s article on setting up refund transfers, and the many benefits they offer to both clients and tax professionals. 

    Refund transfer marketing strategies can also differ based on the size and scale of the tax business. A full-fledged tax business might have the marketing resources for multiple national campaigns that each target different market-segments, whereas an individual tax professional, or smaller local tax business, might want to focus on strategies that only involve one or two target markets. Tax Business Growth

    A Few Refund Transfer Marketing Tactics

    Social Media Campaigns: 

    Social media has become one of the strongest and cheapest marketing tools available. As one of the most accessible platforms for consumers; businesses that utilize social media as a branding tool, and as a marketing tool see increased ROI’s, larger audiences, and higher rates of consumer engagement.

    How are they achieving these levels of success?

    Social Media Success Strategy

    Refund Transfer: Strategy_Execution_Success

    The key to social media is starting the conversation and introducing yourself as the tax business expert. You start the conversation by sharing insightful advice or tips to problems you know your niche market faces every tax season.

    For instance, You can share simple Facebook posts on our page with the biggest tax tips for teachers or policemen. If you've really done the work and actually understand their pain points, as it relates to their taxes, you'll start hearing from them.

    But don't give up after your first attempt! You need to be consistent and have ongoing conversations throughout the year to build that level of trust.

    Email Marketing:

    Email marketing has been around for about as long as email itself. Remaining one of the most valuable assets to tax businesses, a robust email list full of consumers offers an immediate audience for targeted campaigns that land directly in the consumers inbox. Drafting email campaigns that yield high conversions, opens, and click-throughs is an important tool for any business.

    Refund Transfers - Email Marketing

    Using softwares like Mailchimp, tax professionals can manage a growing list of emails, and design custom campaigns highlighting the benefits of tax refund transfers - these campaigns can be scheduled for the weeks and months leading up to the tax deadline.

    Highlighting the convenience of the payment method via refund transfer is important during this marketing season, as it could influence consumers to act, and use the tax-prep services outlined, and get one of the most daunting yearly tasks checked off the to-do list. 

    Traditional Marketing:

    Tax professionals can also benefit from turning to traditional marketing tactics to conduct refund transfer marketing. These tactics include paper-mail, billboards, and building a community presence. 

    Refund Transfer Postcard


    Offering easily-digested postcards or pamphlets that outline the benefits and simplicity of refund transfers is a good way to reach customers who may not rely on social media. Establishing a name in the community, and relationships with other local businesses is also an easy way to stir up conversation, goodwill, and cross-promotion, which ultimately leads to an elevation in brand reputation. 

    The Most Effective and Universal Marketing Tactic:

    Any business person has heard this again and again, especially in service industries. The best marketing of all-time is almost undoubtedly, word of mouth. Consumers have a tendency to trust each-other rather than ‘corporate big brother’, so creating a comfortable, reputable, and reliable tax business will bring in new business and promote growth on its own. 

    In addition to attracting business on its own, word-of-mouth enhances the other marketing tactics above, by adding depth and consumer trust to the brands name, visuals, and other identifying materials. 

    For any questions regarding tax prep software, or setting up Refundo’s refund transfer platform, feel free to contact us!

    Jesse loves marketing and writing posts that focus on adding value to tax businesses across the country. In his spare time he enjoys playing soccer, loves to travel, and eat strange cuisines!

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