As important as it is to gain new clients, it is just as important to keep the clients you have. In fact, it is cheaper to retain clients than it is to replace unhappy ones with new ones. The best way to retain clients is to provide excellent customer service and to offer incentives to being loyal customers.
One way we do that at Peoples Tax (our sister company), is through a VIP program. Clients who return to us become VIPs armed with their own special VIP card. This card gives clients a 3% discount per year returning for up to 5 years returning that maxes out at 15%, and when combined with any other discount(s) such as Senior or Military, the total discount cannot exceed 25%. Clients are mailed our VIP Gold card in January of the second year with us. Other benefits include:
- Free electronic filing (e-filing) with paid tax preparation
- Half-price tax returns for dependent children
- Free tax info year-round
- Free tax audit preparation
- 10% senior discount (age 62) (off net fee after VIP discount)
- Tuition-free Comprehensive Income Tax Course with The Income Tax School
Incentivizing referrals is another great way to reward loyal clients who love to refer friends and family. You can do this by offering a discount to the referring client once the referral has their taxes prepared with you. You can also offer a discount to the new client. At Peoples Tax, we offer a $25/25% discount. Clients who refer a new client receive a $25 check. The new client will also get a 25% discount on their tax preparation fee with Peoples Tax.
Referral Programs for Businesses
Another great way to reward larger clients (businesses who have their taxes prepared through you), is to offer discounts to their employees. Employee benefits that don’t cost the company money are always valuable in an employer’s eyes. It’s a win-win.
Making your clients feel special is just good business. However you reward them, make sure it is easy to understand and deemed valuable in their eyes.
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