Cooperative coupon advertising of tax services.Cooperative coupon advertising is a cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. form of direct mail marketing used by many of today's tax professionals. It can help a practitioner gain new clients, referrals, and name recognition. Cooperative couponing cou·pon·ing n. The sending out or turning in of coupons, especially the regular redemption of a manufacturer's coupon for cash. is based on the principle of sharing advertising costs and envelope space with other local businesses, such as restaurants, doctors, dry cleaners and automotive centers. Inside the envelope are coupons representing dollar and percentage discounts to cost-conscious readers hoping to save money. Although word-of-mouth referral is a more traditional form of marketing for most tax professionals, cooperative direct mail is developing its own following, based on its cost-effectiveness cost-effectiveness pertaining to cost-effective. cost-effectiveness analysis a comparison of the relative cost-efficiencies of two or more ways of performing a task or achieving an objective. and consumer popularity. Statistics show that coupons are in demand by street-savvy consumers who want a shortcut (1) In Windows, a shortcut is an icon that points to a program or data file. Shortcuts can be placed on the desktop or stored in other folders, and double clicking a shortcut is the same as double clicking the original file. to savings. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent study by Chicago-based Frankel & Company, more than 99% of American households use coupons in their everyday shopping patterns for products and services. Of this group, more than 94% use direct mail coupons. Tax consultants and CPAs are tapping into this market by adding cooperative direct mail to their marketing plans, because it affords them flexibility, specific targetability and return that generates income. Why use coupons? Yellow-page ads and solo direct marketing through mailing lists An automated e-mail system on the Internet, which is maintained by subject matter. There are thousands of such lists that reach millions of individuals and businesses. New users generally subscribe by sending an e-mail with the word "subscribe" in it and subsequently receive all new work, but they can be costly. Radio advertising is costly and time-consuming. Cooperative direct mail, often a lower-cost choice, can result in new tax preparation clients, referrals and small business clients. Also, the practitioner does not have to worry about typesetting typesetting: see printing. typesetting Setting of type for use in any of various printing processes. Type for printing, using woodblocks, was invented in China in the 11th century, and movable type using metal molds had appeared in Korea by the 13th , design, copywriting Copywriting is the process of writing the words that promote a person, business, opinion, or idea. It may be used as plain text, as a radio or television advertisement, or in a variety of other media. , printing, postage POSTAGE. The money charged by law for carrying letters, packets and documents by mail. By act of congress of March 3, 1851, Minot's Statute at Large, U. S. 587, it is enacted as follows: 2.-Sec. 1. and mailing--all this is included in the price when dealing with a cooperative couponing marketer. A practitioner might initiate a cooperative coupon advertising program by mailing approximately 30,000 to 40,000 coupons annually to targeted local communities in the practice's geographic area. Even if there is only a 1% response, clients may keep coming back year after year, and refer others to the practice. It may take only a very few new clients to break even. Cooperative couponing also saves time over conducting direct mailings. Timing is everything An important component to successful cooperative couponing is knowing when to mail coupons. A practitioner can learn from trial and error, or just target February and March for major mailings. Mailing with more than one company, in overlapping geographic areas, allows a practitioner to fine-tune just when mailing should begin. Designing the coupon The coupon should be as colorful as possible, to maximize impact, as potential clients will not spend time poring Poring is a small tourist resort in Sabah, Malaysia. Located 40 km south-east of the Kinabalu National Park Headquarters, in the district of Ranau, Poring is situated in lowland rainforest, contrasting with the montane and submontane rainforest of Kinabalu National Park. over ads. Zero in on those who need tax services by including a strong offer, a good design and a full-color photo; Direct Mail Association studies show that consumers prefer full-color ads three times as much as one- and two-color ads. The practitioner can offer dollars or a percentage off tax preparation, a discount off the preparation fee for a particular form, electronic filing, quick refunds, or free accounting services for a limited period with the purchase of an annual contract. The offer of small premiums, such as a pocket secretary, may also bring in new clients. Consider the benefits Cooperative direct mail can be an economical and effective way to communicate to consumers in need of tax and accounting services. Whether the practice has a small or large budget for advertising and promotion, cooperative direct mail will most likely fit in. A typical mailing to 10,000 homes in a specific area costs approximately $350 to $500, depending on the direct mail company selected. Considering the all-inclusive services (printing, paper, postage, handling, ad design and mailing), affordability becomes apparent. Tips to succeed Before adding cooperative direct mail to a marketing plan, consider these tips to coupon success: * Explore the direct mail buisness before attempting to mail. Talk to different cooperative direct mail companies to ascertain which services are included. Company representatives should try to identify goals and needs before promoting a particular package. * Choose a direct mail company that provides plenty of full-color photos, clip art A set of canned images used to illustrate word processing and desktop publishing documents. and a range of proven samples. Let company representatives show and tell the value of the promotions, so that the company's credibility can be assessed. * Advertise integrity, customer service, affordable rates and the age of the practice. Also, emphasize the practice's strengths. * Keep coupon copy short, simple and to the point. Offers for free electronic filing, dollars or percentage off tax preparation or an overnight tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. will get the right message to the right people. * Order coupon overruns and use them as extra promotional materials in the practice and in the community. Distribute the overruns to surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. businesses and to clients to give to friends and family. * Plan consistent mailings to establish name recognition in the community, increase response and lower advertising cost per mailing piece. |
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