5 Tips to Write a Marketing Plan for a Tax Preparation Business

The success of marketing for a tax preparation business is defined by the planning and organizing of that process. Your marketing strategy is as effective as your marketing plan. With the rising competition in this business, there is no more space for improvising and a lack of effort in a marketing campaign. You’ll need to dedicate yourself completely to forming a successful and thoughtful marketing strategy.

The first step is to coin the marketing plan. There are several aspects that you need to take into consideration while writing a marketing plan. If you want to create a plan that will present your tax preparation business in the best light, this is what you need to do.

1. Determine Your Niche

The marketing plan will be more precise and personalized if you know who are your target clients. Will you focus on individuals or small businesses?

Additionally, consider the type of services you want to offer. For example, you can emphasize working with law firms, service-oriented businesses or you can specify the type of tax preparation like individual stock purchase.

Narrowing down your niche will help you to create a marketing plan that will be personalized for a specific audience. Personalization in marketing is essential for attracting the attention of your target audience. 

Spreading a generalized message will fall into the shadow of businesses that claim to be experts in the domain that the clients want. 

Make sure that you write down the service you want to focus on and the characteristics of the target clients you want to attract. Marketing to the right clients will seal the deal much faster. 

2. Set Your Goals

Having a clear goal will make your marketing efforts more direct and specific. Goal setting is one of the basic steps of writing a marketing plan. It motivates you throughout the process and gives your marketing plan a purpose.

Your goals can be:

  • Increasing the number of clients
  • Promoting new tax preparation service
  • Maintaining the satisfaction of current clients

These are just some examples of what your marketing campaign can focus on.

Every business that wants to pull a successful marketing plan needs to set goals. The tax preparation business is no different. Goals need to be clearly defined and as specific as possible, so don’t hesitate to even put the number of new clients you want to bring into the business this year,” shares Amanda Willis, a marketer at TopWritersReview who worked on several marketing campaigns for tax preparation businesses.  

3. Analyze Your Competition

There is so much you can learn by observing your competitors – both the good and the bad. Their work and marketing can teach you what actions bring positive results and what actions fail with your target clients.

When you analyze your competitors, these are some of the aspects of their business that you need to look at:

  • Type of clients they have
  • Services they offer
  • Their pricing
  • Marketing messages aimed at individuals and companies
  • Signs they use on their offices to attract street traffic

Write down in your marketing plan what works well to give your guidance but also write down what you shouldn’t do. You need to look at less successful competitors as well to notice the marketing tactics that you should avoid.

4. Think about What Makes You Different

Tax preparation falls into a large industry with many competitors who are trying to do the same thing as you – reach out to more clients and improve their business’s success rate. 

Professional Tax Preparer™ Business CardTo write a marketing plan, you need to know what makes you different. In order to define that, look your business from four perspectives:

  1. Strengths – Ask yourself what are your strong sides. Do you have well-trained employees? A long history of satisfied clients? Think about what brings success to your business to identify your strengths. Are you and/or  staff a certified Professional Tax Preparer?
  2. Weakness – Knowing your weaknesses will help you to stay away from promoting less successful aspects of your business. You might be a new company with not many clients to support your credibility so you don’t want to put the focus on that.
  3. Opportunities – If there aren’t many tax preparation businesses in your area that is one opportunity to focus your marketing on. There are many opportunities that you need to think through and identify if you want to promote the businesses in the right way. 
  4. Threats – Government policies regarding taxes or other tax preparation businesses near you can cause a threat to your marketing campaign. You might not be able to eliminate the threats but being aware of their existence will help you prepare better. 

Based on the research you did on competitors, you’ll be able to pinpoint your unique qualities or think of a few new ones that you want to adopt.  For example, have you considered offering additional related services such as accounting, bookkeeping, as well as business coaching services to complement your tax planning and preparation services?  Perhaps now is the time for you to build the premier accounting business in your area!  (see what you can do to follow a Turnkey Business Plan)

Write each one of these aspects down to have a clear idea of your strong and weak spots that will be the baseline for creating a realistic and efficient marketing campaign.

5. Define Marketing Channels

The marketing strategy needs to be spread across different channels. There are several options and you have to make a pick based on your goals. However, the more channels you use, the higher will the chances be for improving your business.

Here are some options for directing your marketing efforts: 

  • Website
  • Social media networks
  • Local advertising
  • Networking (attending conferences and relevant events)
  • Referrals
  • Email marketing
  • Sales letters

A combination of some or all of these marketing channels is the most effective choice. 

Finally, once you define your marketing plan you should keep track of the progress at all times. Writing a marketing plan is a task that comes to an end quickly, but applying the strategies you set demands consistent determination and dedication. Tracking the progress of your marketing plan is necessary for making corresponding improvements and adjust the plan based on real results. 

Author’s bio. Daniela McVicker is a blogger and a freelance writer who works closely with B2B and B2C businesses providing blog writing, copywriting, and ghostwriting services. Currently she many authoritative sources, you can check her last review of Trustmypaper. When Daniela isn’t writing, she loves to travel, read romance and science fiction, and try new wines.

From Ministering to Serving as an Accountant

For Clay Glassford life has purpose and meaning, who knew the adventure he would take when he decided to become an accountant. With a decision, hours of committed study he found the confidence to start his accounting business and has not looked back since then.

Listen in as Roger and Clay discuss this journey and the impact it’s had on his life in a positive way.

Clay shares some tips and advice that apply to everyone starting and building a successful accounting & bookkeeping business.

Learn the turnkey process to having the premier accounting firm

Become a Professional Bookkeeper

Become a Profit First Professional

Steve Chase, Who knew and now I have a successful accounting business

From a supportive spouse to now running a successful accounting business Steve Chase has a journey to share. Reflecting back to his youth he remembers as a Boy Scout enjoying the personal finance merit badge, who knew this was in his future.

Listen to Roger Knecht and Steve Chase as they discuss starting and building a bookkeeping business. Great advice, some tips, and tricks you don’t want to miss.

Hear what Steve feels we all need to know regarding our future roles in accounting.

Enjoy and remember this, if it’s about accounting, it’s Universal.

Your Turnkey Business Plan

Start Your Own Accounting Business

Build The Premier Accounting Firm

Get Certified – programs and training for accounting professionals

From E.M.T. to Tax Professional

For many individuals, a career change is the right step to a better future and was the case for Eric. Whether we are pushed or pulled to make a change in our career it still is a big step and the same was true for Eric. Hear what Eric did to become a Professional Tax Preparer (PTP) as well and run a successful tax business.

See what you can do to become a Professional Tax Preparer

Why Accounting Firms Need Influencer Marketing in their Digital Strategy

Times are changing. Even the most unexpected industries are adopting intricate digital marketing strategies. Because more and more businesses and accounting firms are realizing the importance of a solid online presence in raising awareness and attracting clients.

However, the saturation of businesses and various marketing ploys makes it hard for accounting firms to penetrate the online space and establish their brand. This, in turn, makes it harder for them to acquire clients.

This is where influencer marketing comes in, helping accounting brands, like yours, amplify their digital presence and get their message across to the right audience.

Most challenges companies face today have to do with a lack of communication between the firm and their clients. So getting the correct message across is extremely important. Some clients are not aware of the services offered, failing to retain information that they might need in the future. Most of them are focused on specific problems and fail to look at the bigger picture.

Your marketing strategy must integrate constant reminders about what you do and what you have to offer. However, the competition between accounting firms can easily drown your message. With the help of influencers whose voices are considered authoritative in the industry, you will be able to properly communicate your message and increase your audience retention.

Influencers are ordinary folks who create valuable content and have amassed a strong online following. Their authenticity, relatability, and honesty set them apart from traditional endorsers. For one, online users tend to trust influencers more than celebrities, relying on them for product recommendations.

Why should you integrate influencer marketing into your firm’s digital strategy?

Increase Brand Awareness

Expanding your audience reach can be made easier with the help of influencers. They have the credibility needed to convince your target market to take notice of your brand. With their voice of authority, their followers won’t only listen to them, but they will absorb your message as well. Followers will also learn to trust the influencer, which will eventually lead them to trust your firm.

Improve Audience Engagement

Sometimes it’s important to start conversations about your brand in order to have a higher chance of convincing your audience members to become your clients. Influencers can advocate for your brand by creating content that will resonate with your desired audience.

This will help improve your engagement and build a lasting relationship with your potential clients. It will also be easier for you to provide a better customer experience because your audience won’t hesitate to go to you when they need answers to their questions and solutions to their problems.

Boost Conversion and Revenues

While most influencers tend to focus more on fashion, beauty, and lifestyle, there is no reason why influencer marketing can’t be applied to the accounting industry. Influencer marketing has tremendous power when it comes to drawing the right audience and ushering in favorable results.

In fact, when done right, influencer-marketing content can deliver an ROI 11 times higher compared to traditional forms of marketing. It is one of the most cost-effective ways to promote your brand and achieve a good return on investment.

Final Notes

The nature of an accounting business is more formal than most industries. Therefore, it needs influencers who are credible, knowledgeable and respected in the field of accounting.

Most of these influencers are thought leaders whose knowledge not only stands out but is also authoritative in the industry. Teaming up with them to produce quality content can do a lot to enhance your firm’s reputation and solidify your place in the accounting circle.

Just remember to choose the right influencers who are relevant and suitable for your accounting business. Make sure that their vision and creative content are in line with your own firm’s vision, whether it is offering quality service or providing valuable information for potential clients. Otherwise, your efforts could go to waste because there will be a disconnect between your influencers’ followers and your own target audience.

To learn more about these principles and apply this in your business become a Profit & Growth Expert (PGE).

To see a related Infographic go HERE – URL: https://www.smallbizgenius.net/by-the-numbers/influencer-marketing-statistics/

Next Page »