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Need Help Promoting My Tax Preparation Business
Posted By: mrsfrogge* on 12/24/2004 9:05 PM (CST) 125 Points
Need ideas to compete against well know major tax preparation companies in my area.

Posted by: michaldover* Member Response
12/25/2004 8:56 AM (CST)
I think we need some more information in order to answer your question. What is your competitive advantage as a small company? What can you offer your prospective customers? Who is your target market? Can you be more specific about the services that you provide? I know it's tax preparation but try to break it down to activities that you do (services that you provide) for your clients. Do you know what are the disadvantages of the large tax preparation companies?
 
Posted by: Stokefire* Accepted Answer
12/25/2004 12:59 PM (CST)
...On the off chance that you haven't yet found your differentiator, I might advise you to figure out what the big companies can't do well (whoops - exactly what Michael suggested). Once you get that you can choose from the list and target those for your strengths.

What don't the big companies do well?
* Treat regular people like they are special
* Remember (or know) your name when you come in
* Remember your name while they're working with you
* Feed you while you're waiting for your appointment
* Keep a nicely decorated office, waiting room
* Have something for your kids to do while having your appointment
* Establish relationship with client
* Provide you with the same tax preparer year after year


I can think of dozens more here. Feel free to contact me (see my profile) if you're interested in a more formal process, though you'll likely get plenty of great ideas here (after the holidays)

Best of luck,

Tate
 
Posted by: mrsfrogge* Author Response
12/25/2004 2:17 PM (CST)
Across the board, I offer the same services such as bank product loans, fees withheld from refund, direct deposit, and so forth. I use to work for both major tax preparation companies - what they don't offer... hmmmm.. customer service #1.

I'm really looking for ideas on how to get out there and be seen in the community with a low budget for marketing. Have been researching guerilla marketing and find that fascinating - looking for ideas.

My competitor edge is: locally owned, known in the community

My target group is low to middle income customers.
 
Posted by: Stokefire* Member Response
12/25/2004 6:17 PM (CST)
Also remember that you're not just competing with the big companies - you've got Intuit and some state governments that allow the filing of taxes online.

As for methods to find customers - go where the customers are and the competitors aren't. Ask if you can rent space in a store near the tax software, or offer profit sharing to anyone that makes a referral or allows you access to their customers.

Find a way to have a reciprocal agreement - you do the taxes for all employees of the company and they offer a free service to a limited number of your clients. Car washes, hair cuts, etc...

Remember - if you make these "freebies" feel special this year you can get them back again as paying customers next year. Perhaps a coupon along with the trade?

Just keeping things moving for you...

Good luck!

Tate
 
Posted by: bborthayre Accepted Answer
1/22/2005 7:23 PM (CST)
Two suggestions

1. Consider marketing to and serving the Hispanic market. This community is extremely underserved in tax preparation industry.
Read the book entitled "Marketing to the Hispanic Community: A Comprehensive Guide for Tax Preparation Offices" You can get it at a discount if you're a member of NATP. I don't just recommend it because I wrote it but also because it is a perfect niche market for a small independent tax preparation company. With 39.9 million Hispanics in the U.S, it is not a market you can afford to ignore.
Read the article about serving Hispanics on Accounting Today website under practice management which gives more detail.

2. Liberty Tax uses guerilla marketing strategies to compete with the big competitors (Block and Jackson Hewitt) who can outspend them on regular advertising.
Guerilla marketing is a way to get noticed free or very inexpensively. It has definitely helped them to be more competitive with the bigger companies.
Thanks,
Blaire Borthayre
 
Posted by: TheEagle* Accepted Answer
1/22/2005 8:33 PM (CST)
Here is the answer to all your US Tax questions:

http://www.861.info/pgs/861course.php
http://www.861.info
 
Posted by: marketerinco Accepted Answer
1/23/2005 12:00 PM (CST)
As a new company on a shoe string budget you need to think outside the box. Where are other tax companies NOT advertising. The top two avenues I use for my tax clients are pizza boxes and community development newsletters.

For the pizza boxes - make up a flyer on a colorful paper the size I use is 5.5 x 8.5 so you get two on a page landscape view. Take the flyers around to several different pizza delivery stores and ask if you complete the managers taxes (as long as they aren't to extensive) for free can they tape these to the pizza boxes until the April 15th. Dominos here in Colorado has been doing it for several years for my client. You are coming up on a big pizza delivery on February 6th (Super Bowel) so get on this one.

For the community newsletters - check into certain developments you would think meet your ideal customers profile. Then call around and see if they put out a newsletter for the people living there. If not, see if you can hang door hangers in the area. Contrary to what people think, I have great success with door bills.

I hope that helps. Feel free to ask any questions.

Thanks - Marketerinco
 
Posted by: Sanjeev Kumar Vyas Member Response
1/23/2005 9:10 PM (CST)
I would agree with Marketerinco,
You need to think outside the box. I think what I would do is may be invite few people for hi-tea or breakfast or something like that and give them info about your services.
Many people don't know much about the services you offer. So during this meet take time to give them some knowledge about these things may be others too that could be helpful to them. Ask them if they would like regular info.
This will make you know to them and they will probably give their service to you.
Regards
Sanjeev
 
Posted by: jstorres Member Response
1/26/2005 2:29 PM (CST)
If you do decide to target the Hispanic market, as one reply indicated, read Community Banker's Guide to Hispanic Marketing. It is free at http://www.calnationalbank.com/pdfs/hispanicmarketing2005.pdf

It contains many marketing tips that are directly transferable to your business.
 
Posted by: Val (Moderator)* Moderator Response
1/26/2005 8:06 PM (CST)
Hello all. I am closing this question, since its more than two weeks old. We do this to make sure members' contributions are rewarded in a timely manner and to improve the visibility of newer questions.

Thanks, so much, for participating!
Val (Moderator)
 


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