Tax Fee Protection schemes offer huge benefits for your firm and your clients – but encouraging clients to make the most of this is not always as easy as it seems.
This top ten guide provides tips on how to improve fee protection take up rates – from educating your team to marketing promotion.
1. Plan Your Marketing
Plan your marketing 3 months in advance of your renewal and set up a clear marketing plan. Use all marketing channels at your disposal (letters, emails, tele-marketing, website, reception areas, newsletters, webinars, seminars etc).
2. Make Fee Protection part of the Culture
Make Fee Protection part of the culture of your practice. Educate the whole practice on the benefits of Fee Protection for both your clients and the firm. Hold an internal meeting on Fee Protection. The practices with highest take up rates make sure all their team know about the benefits of Fee Protection and why it benefits clients.
3. Encourage the Team
Encourage the team to mention the benefits of Fee Protection to clients on an on-going basis - there is no stronger recommendation than one that comes direct from the accountancy practice and it can hugely increase take up rates.
4. Email your Clients
Email your clients about the scheme - your provider should be suggesting copy and providing you with email templates.
5. Get Your Provider to Undertake your Marketing
Make sure you use a provider who does most of your marketing on your behalf - This will save you a huge amount of time and money.
6. Send your Marketing Letters Early
Send your first marketing letter 3 months in advance of renewal - ask your provider to do this and make sure they don't charge you for this.
7. Compare and Contrast your Marketing Material
Compare and contrast the marketing material provided by providers. Use the provider using the most innovative material - it can make an enormous difference to take up rates!
8. Follow-up Marketing
Send a second follow up letter to everyone who has not replied. Most clients respond to the second chaser letter and this can make an enormous difference.
9. Tele-Marketing
Conduct a tele-marketing campaign both internally and externally to encourage clients to join. This should NOT be a hard sell approach it should merely be a simple question "Did you receive my letter and we wondered if you are interested in joining our scheme?" - use a provider who can provide this support for you.
10. Website
Promote the scheme on your website - It could help you gain new clients too!
