TaxCoach Briefs:    May 21, 2009

Volume 4, Number 23

• Marketing Minute: You are NOT Your Client
• TaxCoach Recommends: EntryTracker Software
• Member Event: Down to the Wire for Early-Season Roundtables

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MARKETING MINUTE (EAL)
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YOU ARE NOT YOUR CLIENT

Keith and I sometimes learn as much at a Roundtable as the attendees do. It's a lot of fun watching you absorb the various lessons we have to offer each other, and it's always valuable to see what lessons are most important to you.

Last week in Chicago, we emphasized, as always, where we think the client should see the value in tax planning. Specifically, we don't want the client to see the value as coming from the plan. We want the client to see the value as coming from your delivery of the plan. That way, the client focuses on you and the value of your relationship, not just the tool you use to develop that relationship.

That's a great "general rule." But how does your client really define "value"? What are the hot buttons that really grab them, in a way that helps them feel your value? A way that binds them to you, promotes long-term loyalty, and stimulates those all-important referrals?

It's important that you understand exactly what value your prospect or client is looking for, and how to present that value. Too many of us assume that we know our client's motivation. And too many of us assume our clients share our own values and assumptions.

Many of you know that my wife Mary and I have faced some family stresses this year. Those stresses have placed a strain on our relationship. And as part of working on our relationship, we both read a book called The Five Love Languages, by Gary Chapman.

Chapman's premise is that people in relationships perceive and express love in one of five primary ways:

1. "Affirming Words"
2. "Quality Time"
3. "Gifts"
4. "Acts of Service" or
5. "Physical Touch"

If couples don't understand each other's preference, they wind up missing opportunities to connect and communicate. Mary and I realized that we have different preferences, and that realization has helped us communicate better through trying times.

The same analysis applies (in a less touchy-feely way, of course!) with your clients. What are they really looking for? Security? Opportunity? Freedom from worrying about audits?

It's important to quiz your client before you present whatever service you are going to present. It's always easier to delight someone if you know beforehand exactly what it is that will delight them.

Your value might vary by client. For example, retirees might seek "handholding," business owners might seek "consistency," and lower-fee 1040 clients might seek "quick turnaround" and "convenience." It will certainly vary by fee level -- and you might be surprised to see that higher-fee clients don't necessarily demand as much, relative to lower-fee clients, as you would think.

The point here is that different clients perceive differences in your value. And you are not your client. You can't simply assume you know what your client is looking for, and expect that delivering it will necessarily satisfy them.

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TAXCOACH RECOMMENDS (EAL)
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ENTRYTRACKER SOFTWARE

Here at TaxCoach, our job is to give you tools to set yourself apart from your competition. And we're always keeping an eye out for complementary tools to make your practice even more valuable. Earlier this year, we first introduced you to "EntryTracker," a new tool that saves your time and your clients' tax dollars, all in one convenient package. With "the season" over, this is a great time to introduce EntryTracker to your clients.

EntryTracker is an online version of Sandy Botkin's classic tax organizer that helps clients track their business expenses and organize their documents to legitimize their deductions. And it's far more powerful than just an expense ledger. Does QuickBooks let them take a cell-phone picture of a receipt -- then send it directly to the software? EntryTracker does. And EntryTracker even trains your clients how to use it!

You can license EntryTracker for a low monthly fee, then offer it to your entire practice. Give it to them free as a value-added service (they would have to pay $49/month to subscribe on their own, making it a nearly $600 value). Or charge them for it and bundle access into your regular fees.

I realize you've just gone through the busiest part of your year, and met with virtually every client. But now is an ideal time to add EntryTracker to your practice. That's because it gives you a reason to check in with your best clients over the summer, and keep your name and the value of your relationship fresh in their minds. They've suffered the pain of this year's taxes -- when better to remind them of the cost of poor recordkeeping, under the guise of helping them avoid repeating the pain again next year? And who better to score points for giving them the solution?

Click here for your free Special Report and demo!

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MEMBER EVENT (EAL)
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DOWN TO THE WIRE FOR EARLY-SEASON ROUNDTABLES

Keith and I just booked our flights for the last of three "early season" Roundtables, June 11 and 12 at the Oronoque Country Club in Stratford, CT. Seats are almost gone, so if you want to jumpstart your tax-planning business before summer, then now is the time to register.

Last week we presented the second "Advanced Session," in an elegant corner room at the Mid-America Club on the 80th floor of the Aon Center in Chicago. Roundtables continue to be very well received -- check out some of the reviews:

"Very informative. Opens your eyes to what you are giving away, and gives you the resolve to get paid for what you deliver."
Ed Lloyd, Charlotte, NC

"Hearing from like-minded individuals about their ideas, troubles, and plans is most helpful."
Joe Cumley, Olathe, KS

"I get tons of intellectual material on marketing — I really enjoyed the hands-on crafting and recreating the marketing letter."
Danny Mueller, Edmond, OK

"Marketing is the lifeblood of every tax practice — and nobody knows how to market tax planning like TaxCoach!"
John Shipley, Ft. Thomas, KY

"Very good. This increased confidence to raise my fees. I need to continue it into February!"
Al Harris, Plainfield, IL

"All four sessions were excellent. I would recommend attending a Roundtable to any TaxCoach member — it is an excellent investment."
Dave Toney, Cincinnati, OH

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! 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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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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