How to engage with clients post tax season
Now that tax season is over, and you get your life back, this when many accountants take much needed vacations and re-evaluate processes and technology. Maybe you’re thinking of adding or changing software, figuring out a hiring strategy, or how to put processes in place that save time when extension season gets near.
Of the initiatives that surface as priorities for the firm when you aren’t burning the candle at both ends during tax season, there is one thing that should be #1 right now…how to engage with clients post tax season.
Why? Because timing is everything.
Don’t miss the opportunity at your fingertips.
I get it. Now that tax season is over, taxpayers are as done with it as you are. Believe me, if my accountant called or emailed now to say he wanted to talk about anything with the word ‘tax’ in it, I’d be very hard to wrangle into a conversation.
But, what about the people whose books were unorganized, making their Schedule C a slight nightmare? How about the folks who had a sizeable balance due? How about the ones you discovered had a growing side hustle? Or those who have kids they want to send to college but who don’t have a savings plan in place?
There are many opportunities for billable advisory work, and the best time to approach your clients is now. The wounds of tax season are fresh. When they begin to scab over, you are going to have a hard time igniting a sense of urgency.
Where to start.
With a list of clients. It is a simple fact that it is easier to sell to existing clients. You already have a relationship with them, and they trust you. They simply may not know what else you can do to help them. Don’t think of it as selling- you owe it to clients, yourself, and your firm to make sure the information is available about how you can be the proactive advisor so many people need.
Make a list of clients who are candidates to reach out to. Talk to staff and review any notes about follow up needs that came up during tax season meetings.
More importantly, get clear on this…who do you want to do business with, and what offering can you structure for them?
Then what?
Put a laser focus on your goals. What exactly do you want to achieve? Accountants like numbers- set a revenue goal for additional monthly advisory revenue you want to gain.
Now, how can you create value for these clients outside of tax season? Value that’s free and value for fee.
Here’s an example:
“Jesse, I wanted to reach back out now that tax season is behind us and follow up with you on a few things I noticed in your return that we can address to save you money now – and prevent any surprises next year.”
“Bill, I was thinking about your business growth this year over last year and wanted to reach out now that tax season is over to schedule some time to better understand your growth goals and any obstacles you’re currently facing.”
You are creating value by offering to professionally and proactively advise on specific things that will save them money and/or help them grow their business and/or have no surprises at tax time next year. The ‘for fee’ part is when you set up a strategy meeting or regular consulting or advisory engagements that come out of the conversation.
Additional tactics
Send a post tax season thank you email with a survey. Ask clients what other services they would like to see offered in your firm. You may be surprised to find out some don’t know the extent of the services you do offer.
Ask for referrals in a post tax season email. This can serve 3 purposes.
- Thank them and let them know they are appreciated.
- Ask for referrals.
- Summarize the advisory services you offer in the off season- you may again find out some of your clients don’t even know the extent of what you offer.
Create a piece of content that is valuable and put it on your website as a downloadable lead generator for attracting advisory client leads. This can be simple- but must be valuable. It could be a checklist, a short guide, or a video. Require that people put in their email address prior to downloading so that you have an email list to continue to market to. Then, set up an email campaign to follow any downloads. This is a little more advanced and may require the help of a marketing professional, but it is a very effective way to build a list of qualified prospects to market advisory services to.
You are an entrepreneur.
You own an accounting firm. You are a business owner. Business owners are entrepreneurs. Being an entrepreneur can be lonely, and it can also be challenging to hold yourself accountable in such a seasonal profession that hijacks your life 3 to 4 months out of the year.
Your mindset is crucial. Be an entrepreneur with strategic goals you are able to stay focused on regardless of distractions. Consider investing in a business coach to keep you accountable. According to a Fast Company study in an article on leaders.com, roughly 60% of grow-stage CEOs of venture backed startups use a business coach. Firm owners who are transitioning from compliance to more advisory and consulting should consider using a business coach.
May is the time to strike while the iron is hot. Have a plan in place to reach back out to clients who could benefit from your advisory services offerings. Follow through, hold yourself and your team accountable, and watch your advisory services revenue rise.
