Tax Season Is Still Far.. Have You Started Planning For It??
While the peak of tax season is the most chaotic time of the year, it is also the most lucrative for most of the tax professionals. Without proper preparation you can miss out on many opportunities to increase revenue. The best time to begin these preparations is now, during the off season.. The more planning and preparation you do beforehand, the better your business will perform during tax season. Now is the time to learn from last season’s mistakes! Here are some points you should keep in mind while preparing:
- Plan your budget: Keep last season’s accounts up to date and start preparing for next season. Last tax season should give you a good projection for your future costs during next season. Using that you can plan how much you need to allocate for tax season and off season.
- Business expansion: If you’re looking to expand, do it now. You don’t want to have to train new employees during rush season, and you don’t want to come across office problems or moving problems then either.
- Marketing plan: Start planning for marketing initiatives for next season.
- Do some research to get a better understanding of your customers’ expectations.
- Attract new clients through referral marketing.
- Work on your website to improve its visibility on search engines, make it look more presentable and user-friendly.
- Work on your logo and company’s message to target the right customers.
- Give free consultations for selected tax issues. Free counselling to a first time visitor may win you a loyal customer for next tax season.
- Use social media to reach new clients and increase visibility.
- Target seminars, meets, fairs and show your presence through advertising. Distribute brochures covering all the services you offer.
- Keep your tools ready: If you are planning for expansion you may want to upgrade/change your tax software. The right software can help you manage a higher volume of clients, increase your ROI on marketing, and lower operational costs.
- Stay in touch with your clients: Keep sending emails to your clients throughout the year, especially on holidays. Keep updating them about new offers, and offering limited time discounts can help you lock in clients before the season starts.