TaxCoach Briefs:    May 7, 2009

Volume 4, Number 21

• Marketing Minute: They Got it Right!
• Member Event: 2009 Roundtables: Jump-Start Your Membership
• Member Event: Take Me Out to the Ball Game

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MARKETING MINUTE (EAL)
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THEY GOT IT RIGHT!

I've written before about the storefront tax and accounting office located about a mile from my house that I frequently pass while I'm out and about. They have a signboard out front that they use for witty and effective promotions like "QuickBooks Classes Inside" (wow!) and "We Do Business Taxes." (Who can resist that?)

I passed them again this morning on my way to work, and saw that for once they're getting it right! Their ad this morning read: "Free Review of Tax Returns."

Now that may not sound like much. But let's break it down and see why the concept, if not the precise wording, is so effective.

Free

Keith and I are like broken records when it comes to discouraging you from competing on price. You're not WalMart, you're never going to be Walmart, and you shouldn't even want to be WalMart anyway.

But "free" is such a powerful word that we should use it whenever we can. In fact, a Yale University study found that "free" was one of the three most powerful words you can use in marketing (along with "new" and "love" -- which is why so many marketers say you'll love whatever new free thing they want you to buy!)

I like offering a free service as a way of introducing myself -- and more importantly, my value -- to a prospective clients. Not a free "consultation," because everyone offers that -- and "free consultation" doesn't promise any benefit to your prospect. But "free tax analysis," "free tax appraisal," or "free second opinion" all communicate a benefit to an interested prospect.

Back in November, I attended the Glazer-Kennedy Inner Circle "Info-Summit" in Saint Louis. One of the presenters, who runs a $20+ million online membership business, talked about the importance of "moving the free line." He recommends we give away our best ideas for free, to show clients we give them so much value they'd be brain-dead fools not to take us up on our offers. Park that concept in the back of your head, and we'll return to it in a moment.

Review

We just discussed the importance of communicating a benefit to your prospect. And "review" does a pretty good job of just that -- especially right now, just after tax season. There are lots of clients out there who think they paid too much tax this year. And there are lots of clients who can't afford the taxes they know they already owe.

They're feeling pain right now. So why not offer to relieve that pain? Why not offer to see if you can do a better job than their current preparer?

If you're confident that you can review a return and spot mistakes and missed opportunities, offering to review a prospect's return is a great way to offer immediate value and a reason for them to meet with you now rather than waiting until next April 15.

Remember what I said a few paragraphs ago about "moving the free line"? Reviewing a prospect's return -- and telling him, for free, how much you can save him -- is a great way to "move the free line" and give him valuable information up front. Of course, you'll charge (and hopefully charge a lot) for amending the old return, preparing a plan, and handling his business moving forward. But giving him that "free second opinion" is a great way to initiate the relationship with immediate and measurable value.

Tax Returns

Nobody likes paying taxes. Nobody likes the IRS. And "tax returns" have an especially ugly connotation. Everyone can picture a tax return in their head, and most of us who are not in the business feel an almost instinctive discomfort when they picture a return in their head. (Hell, most of us in the business probably do too! -- Keith)

How many of you went to Catholic school growing up? I mean real Catholic school, the kind with burned out old nuns wielding sharp rulers?

Did you ever get spanked with one of those things?

Isn't that what filing a tax return feels like?

We just said how prospects who might be receptive to a "review" of their return are in pain. Why not market by conjuring up an image of what pains them most?

We could certainly improve this ad. There's not a lot of room on the signboard for elaborate copy -- but we could preface it with a question designed to get them nodding "yes" before they even see the offer. I'd try something like "Pay Too Much Tax? Free Tax Return Review!" But all in all, a nice job -- especially for just five words!

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MEMBER EVENT (EAL)
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2009 ROUNDTABLES: JUMP-START YOUR MEMBERSHIP

If you're like a lot of TaxCoach users, you joined with great intentions and great expectations. But then -- like the insurance commercials say -- life got in the way. You know you can use plain-English tax planning to grow your business and attract top-dollar clients. You just don't know how to "jump in" and do it.

If that sounds like you, then TaxCoach Roundtables are the best way to jump-start your TaxCoach membership. I can't even count how many previous attendees have approached Keith and me at the end of a Roundtable -- told us they came for that exact reason -- and left with the knowledge and motivation to make the most of their membership.

TaxCoach Roundtables are intensive full-day sessions in hands-on, small-group settings -- hosted at private business clubs, not convention hotels -- dedicated to exploring TaxCoach's unique combination of tax-planning and business development tools.

There are no outside speakers. No outside sales pitches. Just Keith and I, walking you step-by-step through getting the most from your TaxCoach membership.

For 2009, we've picked six convenient locations across the country and six dates from April through October. And this year, each venue offers two sessions:

• On Thursdays, we'll host Basic Roundtables for new users. This is a reprise of last year's agenda in case you missed it, you want a refresher, or you want to send an associate. (We're especially pleased to see that over 70% of last year's attendees who have already registered for this year's event are choosing to repeat the Basic presentation. They've all cited the networking and masterminding, as well as the value of the material, to justify the repeat.)
• On Fridays, we'll host Advanced Roundtables for more experienced users. We suggest you attend the Basic session before joining the Advanced session, but it's not required.

Come to one or come to both and put your tax-planning practice on steroids! Click here for complete details, including daily agendas, and a registration form. (All-Stars and Hall of Famers, see the Roundtables link on the left (blue) side of the All-Stars page to register for free.)

Space is limited, so reserve your seat now. And we mean it! (The Chicago event is next week!) Just choose which remaining session best meets your needs:

Click here to register. (All-Stars and Hall of Famers, see the Roundtables link in the blue on the All-Stars page to register for free.) Keith and I look forward to meeting you at a Roundtable in 2009!

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MEMBER EVENT (EAL)
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TAKE ME OUT TO THE BALL GAME

Thursday, May 21, Keith and I will be leaving the office early for our first "Take Me Out to the Ball Game" event of the season. Our beloved Cincinnati Reds will take on the Philadelphia Phillies at Great American Park. It's a Business Day Special, with the first pitch at 12:35 PM. And you're invited to join us!

The Reds finished April above .500 (always a plus!), and they currently stand 14-13 on the season. That's a good enough start to keep them standing in second place in the NL Central division.

Why don't you join us! If you'll be in or anywhere near Cincinnati, call Catherine at 513/321-2820 or email support@taxcoachsoftware.com by Friday, May 15, to guarantee a seat. We'll look forward to seeing you at the ball game!

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We're happy to answer your questions on TaxCoach content, features, or marketing. While we give first priority to our All-Star and Hall of Fame members, we work to answer all questions. For best response, email support@taxcoachsoftware.com. If we think the answer will be useful to all of our members, we'll publish it (anonymously) here in the 'Member Q & A' section of TaxCoach Briefs.

Regards,

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