Virtual Tax Businesses: How Should You Strategize a Marketing Plan
Virtual tax business marketing is easy and hard at the same time because it doesn’t exist as a physical entity and people can only interact virtually. However, online presence has seen surge ever since people have taken their plight to social media.
Digital Marketing is far more efficient than offline marketing as people tend to be clinging to their smartphones all the time. This provides opportunity to reach clients who are socially awkward, disabled, and simply unaware.
Always Prioritize Highlighting your Area of Expertise
This is the most important and distinguishing factor that can boost your customer count. People are often distinguished by their trademark skills and characteristics that sets them apart from the rest. Same goes for tax preparers and you can boast about the skills that you know like the back of your hand.
For example: If you have a command over international taxation laws, you can add that to your tax business. There are few people who are aware of the workarounds in taxation laws of different countries.
Another example: Very few people know how a business qualifies for R&D tax credits and its intricacies including W.H.T tax and IRS regulations. This could be your jackpot, and you can advertise yourself as the champion of R&D tax credits, helping businesses unlock substantial savings through your specialized expertise.
TradeMark Taglines & Word-of-Mouth Recommendations
Do you remember the oldest company tagline since your birth? Well, I do have fond memories of some and so would you. These taglines are often ingrained in our subconcious mind and we identify a brand with that particular phrase. Examples: Apple’s “Think Different”, Levi’s “Quality never goes out of style”, and Gillette’s “The best a man can get”.
Tagline conveys your motto and that is not limited to firms or companies, your individual office can have its own tagline. You can say “See Beyond the Numbers”, or “We Handle the Numbers, You Enjoy the Returns”. Whatever you see fit, stick to it forever because changing taglines implies you are changing your motto.
Word-of-mouth is something that will be a really good way of advertising without really advertising. People often trust their family, friends, and acquaintances which will be your focus. If you are really good with customer support and satisfying your existing customers with some incentives, you will be recommended.
It is far better way than client testimonials because if the client isn’t a celebrity or reputable personality, people will less likely lend an ear to a stranger.
Do you remember when your friends use to buy a certain DVD and how they would brag about it? You might be thinking that it only sways children but No! People often discuss things they buy and share insights on how a product is. This is same for services and if you satisfy a customer, he will likely recommend your services to his acquaintances.
Text Messaging is always better than an Email
Did you know that the open rate for SMS is 98% compared to 20% for an email? That’s Mind Blowing! Aside from the obvious disadvantage of being costly, an SMS is effective and direct way of approaching a client. You should also consider that the respond rate for an SMS is 45% when juxtaposed with Email’s 6%. Check this out if you are interested in comparison for services of different service providers.
There is enough room for creativity that you get with SMS texting that you can avoid email marketing if you are short on time. However, utilizing both can be beneficial and increase the response rate if the audience is mature and email-oriented.
Another close alternative is quick messaging app such as WhatsApp, Telegram, or Line. The most popular among these is obviously WhatsApp and provides you with ample customization opportunities and flexibility. This is due to fact that there are almost 2 billion active users on WhatsApp.
Now, WhatsApp doesn’t support bulk messaging like regular sim carriers allow but they do allow broadcasting to limited users. Broadcasting limits the user count to 256 contacts. And the recipients need to have your number saved in their address book.
Pay-Per-Click Advertisements & Direct Mail Campaigns
PPC or pay-per-click advertisements are often narrowcasted to traffic at a search engine, website, or blog. It targets specific keywords and niche audience to allow for a successful and improved click-through rate. You should keep in mind that a typical algorithm will prioritize your ad in the following order.
- Advertiser’s Bid
- Keyword Relevance
- Ad Quality
- Campaign Planning
PPC has an edge over SEO as it can immediately drive traffic to a website without delaying. You can target individuals based on their behavioral pattern and Facebook specializes in spying on its users which can help you as well. You will enjoy various benefits and perks when utilizing PPC over SEO and SEM. Here are a few PPC service providers you can count on: Google, Facebook, YouTube, and TikTok.
Apart from PPC, Direct Mail also comes in handy even when you don’t have a physical office. They are like your traditional mails but more sophisticated and suave such as addition of digital integration like QR Codes.
There are many examples of direct mails including brochures, pamphlets, coupons, flyers, catalog, etc. It is upto you and the size of audience to design the handout with ample customization options at your disposal.
A clever way of including incentives in direct mails is scratch cards revealing special discounts, free consultation offers, tax saving tips, souveniers, etc.
You can also design sweepstakes with tickets for a vacation after filing taxes at your office. This idea should be accompanied by beautiful flyers or brochures with destinations relating to tax savings. Title can be “Take a vacation from your tax stress with our virtual services and win a vacation to…”
Leverage Social Proof with Case Studies
Now this part is really just you showcasing your expertise with worldwide audience interested to avail your services. Case studies are a really practical and convenient way of presenting real-world scenarios relatable to your clients. Put forward precendents of helping your clients with saving money, avoiding penalties, navigating complex tax issues i.e international tax laws & cryptocurrency taxation expertise, and extricating clients out of penalties & adverse situations.
For beginners, start with case studies and convince them how your services will be able to handle different scenarios. You don’t need previous client testimonials if you have strong case studies and persuasion skills. People will be skeptical about your services at first glance but slowly and surely take leap of faith to try your services.
If you have dealth with customers in the past and recorded their testimonials, that’s great. However, if you haven’t, you can contact them and ask for video testimonials on how you helped them with taxation. In case of their absence, you can put forward case studies yourself with some evidence to support your claim.
Video testimonials of clients will be more engaging as people are able to create personal connection with the speaker. You and I know that people try to skim rather than scan a text testimonial because visuals are an eyecandy. Video testimonials can be based on narrative story telling, interview-styled testimonial, success story, day-in-the-life testimonial, and comparative testimonial.
You can decide for yourself the way you want it to be and the client should be adept enough to deliver quality testimonial. People are often judgy and if they smell a rat, your hardwork would be for nothing.
Here are links to my previous articles covering various taxation topics: Email Marketing, General Marketing Strategies, Busy Season for Tax Professionals, Adding Value to our Services as Tax Professionals.