My name is Neal and I'm a Certified Public Accountant. Unlike most accountants, I'm fascinated by marketing and what it can do for a company if done well.

I've opened up my own retail tax prep office in town (think HR Block) and am trying to grow my business. We did a little over 100 clients in our first year and are getting ready for our second. My goal this year is 1000 clients (may be a little ambitious but I think it can be done with the right plan).

I'm trying to create some strong offers to pull clients away from their existing preparers. All taxpayers have three options:

1. Pay someone else to prepare their taxes (65%)
2. Do them your self (32%)
3. Not file at all (3%)

My biggest market is obviously #1. Can anyone think of some strong offers that would help me reach my goal? I've also considered referral strategies since I do have a customer base (small).

Any ideas or thoughts would be welcomed. I'm asking because I respect and admire all the great ideas shared on this forum.

Thanks,
Neal

This is what's called a mirage. You'll want to pick up some marketing books to understand why.

What you want is a target prospect to write to. Ask yourself why, if these people are getting even barely adequate service from the tax preparers they now use, they would want to switch? Specialize and differentiate, develop your Unique Selling Proposition.

One source is your existing customer base. Although you don't have many customers, can you identify any clusters or patterns? See if you can put together a client referral program where clients get a discount for each new client they bring in.

If there are patterns ask questions about why. For instance, who has the most overlooked deductions for 2006? Let's pretend it is the seven carpet and office cleaning companies in your database. Hmm ...sounds like a basic headline and target market to me.

From this we get our copy ideas. You go broke trying to be everything to everyone. Know what whould get me to switch? If I'm a Carpet Cleaning service and you specialize in the 37 little-known deductions for carpet cleaning companies generic tax preparers miss.

And you sent a targeted letter explaining that, rather than a "free air to everyone breathing" generic sales letter.

Then, of course you do reports and joint ventures with accountants and tax lawyers. One accountant I know specializes in debt collection and worked with a copywriter to develop a letter that gets 58% better response rates (because debt collection is a copywriting job).

Look at similar teamups by working with a copywriter. Develop you network, bring them all in as clients to a copywriter and then ask for some consideration on fees for your copywriting job.

Related:

How to Find the “Selling Story” Buried in Your Business

Diagnose and Cure Marketing Myopia for Fun and Profit

Are Your Salesletters Missing The Most Persuasive Tool Sales People Use?

John S.,

I appreciate your thoughts. You make some excellent points.

I've been trying to create a USP. To my knowledge, I'm the only CPA in town that owns/operates a retail tax preparation office. Most CPA's focus on the higher income market whereas most retail tax prep offices focus on lower to middle income taxpayers. My issue with this is this market may not see the additional value in having a CPA prepare their taxes as opposed to someone who has just been thru some two week training. I guess I could communicate the differences and see how they respond.

Any thoughts?

I know thru the proper marketing of my business combined with excellent service I can achieve my goals.

Thanks,
Neal

It really depends on clientele. Usually, the copy angle I just outlined works for CPAs marketing against occasional tax preparers.

CPAs have a goldmine of unexplored potential. Receivables recovery is a practical example, and one of the articles I wrote and link to in my original post uses an applicable headline.

Most business people are beginning to see receivables getting long in the tooth towards this end of the economic cycle ...a superior way to collect receivables sounds like a copy angle to me.

Another avenue is business analysis. One guy did a really nice "executive dashboard" for small business. This boiled down complicated financial ratios to quick "heads up" indicators. Many business people dislike the number cruncher side of things and this was an easy way business owners liked.

That IS ...."the additional value in having a CPA prepare their taxes as opposed to someone who has just been thru some two week training."

My other articles touch on marketing strategy. (I could say more, but then I'd have to bill you).

Related:

Visual Display of Process Information Financial people approach communicating with entrepreneurs like Americans in a foreign country. If they're not understanding you, you must not be speaking slowly enough. That doesn't work -- information design is about breaking down communication barriers not shouting over them.

Using "Visual Display of Process Information" you could -- as one sharp CPA firm did -- create the USP of being able to speak to business people in a way they immediately understand.

Hi Neal,

Before doing anything in the area of marketing, you should determine who you'd most like to serve in your business. If you want to make a lot of money doing this, I see two options:

- Are you looking to build a high-end business with a limited number of high paying customers?

Or

- Are you looking to build a scalable business (that is to say, more clients and a systematic way of processing them with possibly many employees).

Once you've got this figured out, you need to get inside the head of your ideal prospect. Doing taxes, to a lot of 'common people' is an intimidating and pesky task. Keywords here as far as your offer goes are: Simple, Reliable, Affordable. Don't use these words necessarily, but actually write a story that proves you're offering these things. Make it non-threatening, make it smart for them to use you (they'll actually save money) and find an amazing, believable reason why you're offering something that is better than any alternative out there

(Just one idea: Find the ideal balance between using systems (cheap) for every professional / fiscal situation (unique) out there so you can maximize savings while keeping costs low - and describe to them how you developped this unique system yourself and that no one else is offering a custom tax solution at that price)

Basically, make it believable that you're the best option, and make your offer non-threatening. Prove you're trustworthy (this is where testimonials come in).

As far as the high-end clientele, I'm with a high-end accountant myself and the reasons I use him are:

- He knows his stuff, to the very detailed sneaky stuff that can save your butt, your assets and if you so choose, guide you to more riches.

- He does everything for me. I don't have to know jack about anything to do with the government or taxes - I'm completely worry free.

I figure the first is one is most important here and is an ideal candidate for showcasing your expertise in the sales process.

All the best,
Erik

Run some seminars for both your current and prospective clients.

This positions you as the 'expert' in their eyes, and they're happy to pay more for your services as a result.

You should offer them a free consultation at the end of your seminar.

You can pitch your seminar to certain groups such as:
"Attention Property Investors: Recent changes in the tax laws mean you may be missing out on lucrative deductions". Same thing for small businesses, share traders etc.

You can also joint venture with some professionals in your town, such as lawyers, financial planners etc and offer their clients a free tax audit of their previous year's return, or some other consultation with them (or invite their clients to an exclusive seminar just for them). This would be a great way to get customers.