As an entrepreneur or tax preparation business owner, you understand that in order to expand you need to be consistently attracting new customers. So, how do you effectively grow your tax preparation business? In this article I break down seven great ways you get more eyes on your company, and of course—more sales.
…And while you’re here, don’t forget to register for my FREE + EXCLUSIVE online training, ‘Teach Me The Tax Game’ to learn how to increase your income with a new career in the tax industry, and make $100K in just 120 days!
1: Leverage Word of Mouth
Word of mouth is still a powerful asset when looking to garner new customers and promote your brand. In fact, according to Nielsen, 92% of consumers trust personal recommendations from family, friends, and even strangers—more than traditional marketing techniques. If that weren’t enough, 74% of individuals base their decision to buy something based on word-of-mouth referrals.
Speaking to everyone you come across is the best way to reach and spread the word about your tax prep business. Have your business pitch down to a science and make sure you talk about at least one to two specific benefits people can enjoy when they choose your company over your competitors.
Another way to get people in the door? Offer referral discounts. Not only do you get a new client, but they get a deal on the services you offer.
2: Update Your Website
Optimizing your tax preparation business website couldn’t be more important in 2023. Your site should be mobile-friendly, responsive, and aesthetically pleasing.
And it’s not just about how everything looks, it’s also about what types of content you’re putting on your website. Implementing a strong SEO-presence that makes your copy search engine ready is key in monitoring your site’s performances. If you aren’t sure where to start, hiring a digital marketing company to help will make all the difference in getting you where you need to be.
Lastly, utilize Google My Business. It’s a free service that connects Google users to your website, contact, hours, and business information at the click of a button.
3: Use Popular Social Media Platforms
There are countless social media platforms at your disposal—use them! Facebook still remains the most popular channel with the largest reach. This doesn’t mean you shouldn’t also be using TikTok, Twitter, Instagram, or YouTube, it just means that you need to make sure Facebook is first on your list. After that, you can expand your social media portfolio and attract new eyes.
4: Identify Your Target Audience
According to a survey from Bain and Company, acquiring new customers costs six to seven times more than retaining your current customers. To avoid pouring money down the proverbial drain, generate strategic advertising campaigns that are specific to your target demographic.
If you don’t know who your target market is, it’s time to do some research.
You should also be asking several questions:
- How old is your audience?
- Do they own homes?
- Where do they fall in the income bracket?
- Do they file their taxes as single or married?
If you accurately answer these questions you can begin to build a targeted advertising campaign that leads to more sales and more profits.
5: Utilize Email
If your tax preparation business plan doesn’t include any email marketing strategies, it really should. Especially when you consider that for every dollar you spend on email advertising, you can expect an ROI of $38—that’s a huge return!
Not only that, but marketing via email is also a great way to expand your business because approximately 80% of business owners say it leads to higher consumer acquisitions and retention. With numbers like that, what’s not to love?
Using tools that automatically send emails, like Mailchimp, you can communicate with and engage your audience way more effectively than with traditional mail alone.
You might think of postcards as outdated and the precursor to email marketing, but I promise you that they are just as impactful when it comes to getting the word out about your brand. One of the best ways to do this is with a direct mail campaign—a strategy that typically nets an average ROI of between 18% and 20%.
Moreover, 56% of customers who responded to a direct mail campaign went online or to a brick-and-mortar location—62% of those made a purchase.
So, when it comes to acquiring new tax prep clients, focus your efforts on new home buyers and businesses since both will require tax services.
It may sound old-fashioned, but it’s not. Flyers and other marketing materials are a brilliant way to get new eyes on your business. Not only are they inexpensive to make, but they’re able to be used in so many places—just make sure that you have permission beforehand if need be.
When creating a good flyer, make sure it’s attractive, but not all over the place with tons of colors and fonts and negative white space. If you aren’t sure where to start, consider hiring a freelance professional to help you put something together. Not only does it need to look nice, but it also needs to be well-written and informative. After you’ve completed your flyer, I think you’ll be quite surprised at just how helpful they can be when getting the word about your tax preparation company.
More Ways To Grow Your Tax Preparation Business
Looking for more ways to grow your tax preparation business? I can help. Contact my team today to get started.
…Did you know you can use your tax preparation business knowledge to sell digital products? Learn how by registering for a FREE spot in my EXCLUSIVE online training course, ‘Teach Me The Digital Products Game’ and learn the simplest, most cost-effective ways to make money selling digital products!