You would need to offer additional value added services, that is if you are maxed out on returns. First to consider is your visibility. Do you have a professionally designed website? What marketing do you do. Are you looking for more tax return business? What is your target market? Once you figure out where your profits come from, then expand into that area. You may very well be able to target those clients that you already have with some additional value-added services.
Referrals - do your best on each client. The exit conference is the place to present value added thought into their lives.
I have found that networking in a group professional setting to be very effective. Structured groups like BNI work quite well. You will need to commit time and energy to the activities, but I do not know of anything that does not take effort! Search for groups in your area, visit them, and see which one feels right for you. Ask the other members how it has worked for them. Seek a group that has a strong core of business to business and financial members.
That's a loaded question. I've been in private capital markets financing, business development, marketing, etc. for decades and have multiple degrees and certifications. To answer your questions, I would need to ask you a lot of questions, get more answers. Please let me know if you're interested. Thank you. Dave
Expanding any business requires planning first. Start with the vision of what you want your business to look like in the end? "Begin with the end in mind" so you can remain on course.
Outside of that, take into consideration what services your existing clients are already looking for/need that you are not offering; ones you usually refer out. You may consider bringing them in house or creating strategic alliances.
Imagine, your clients ask you, “How can I legally shelter more money from taxes?” or “How can I know that I have the right kinds/amounts of insurance and that I am not paying too much?”, “I’d like some reassurance that my retirement strategy is on track. I mean how much do I need to be saving?” “At the rate I’m going, when can I expect to retire?” etc., etc.
Now imagine, you are not only able to give them advice but you can actually help them find the answers they are looking for. You have the solutions. You become the one-stop-shop for your clients
Do you think they will stick around? How likely are they to refer others to you?
I work with tax professionals, such as yourself, to set up an in-house system or leverage strategic alliances. There are pluses and minuses of each. If you want more information so you can make an informed decision, let me know.
Set up a landing page that gives away a free service - like a review of a situation that affects the bottom line in a return. Get people to ask you questions on your site and post answers. Also start a podcast on your expertise. Network, network, network.
I agree referrals via social media are great ways to grow your business. (they take a significant amount of time to capture the revenue from the expenditure.)
However a additional method is the possibility of a acquisition of a competitor or individuals wanting to retire. you can increase your market share really quickly using the second method. A additional method is also to expand your services, that closely fit around income tax preparation such as bookkeeping.
Past clients! Get your past clients to post on Facebook about you. Odds are if they love your service they will refer you.
Our account offers a $20 restaurant gift card for a referral. Not a bad deal for posting their satisfaction on Facebook.
Simple email to your past clients should get that ball rolling really quickly.
Best of luck.
We are actively seeking professional Introducers to our panel. If you are interested in advanced tax-planning via Trust structures, please do let me know. Details at - www.taxandpensions.co.uk
Networking is very important in any business, but especially in yours. Start networking with other service providers, find those with whom you might mutually refer clients to each other. I work with several accountants who constantly refer business to me.
Join other professional networking sites such as LinkedIn and BiggerPockets:
Join local networking clubs and meet small business owners. Learn and educate others about Individual 401k (also known as Solo 401k or Owner-Only 401k). By educating small business owners about this retirement plan for small business owners and how it could potentially save them $$ thousands in taxes, I'm sure you will gain some new clients. You can learn about Solo K here: http://www.sensefinancial.com/services/solo401k/
Do you have a website? A Facebook account? Do you use LinkedIn?
Truthfully, any serious expansion of business will cover business Identity (branding), advertising (both web and traditional), and social media (website, Facebook, LinkedIn, Twitter). And then there is the creative: Craigslist. Also, have you exhausted traditional techniques? Have you asked past customers for referrals? Has something happened worthy of a press release? Obtaining updated credentials is always newsworthy. Taking on a partner would be newsworthy. Have you joined the Chamber of Commerce? What local organizations do you belong to? Do you volunteer anywhere?
I'm an online researcher to a fault. I would begin research with a Google search using the phrase: "marketing plan for income tax preparation business." The options are going to be "huge."