Friday, March 11, 2011

Online Marketing: The New Word of Mouth

online marketing
Tax Day is rapidly approaching and it got me thinking about how one of the oldest institutions, paying taxes, is being transformed by one of the newest, the Internet. Tax prep firms can expect swarms of procrastinators to come knocking on their door as the days dwindle down to April 18. But with online tax services growing annually, and a hungry group of competitors chasing the same customer set, these tax pros can't afford to be complacent. They cannot assume the customers that found them last year will find them again this year.

Many professionals do not put much thought into marketing services beyond word of mouth. They may not fully appreciate that they are providers in a competitive vertical with an increasing online presence. For example, go to Google and search the keyword "tax." Four out of the first six listings will be for online tax services. Moreover, the most aggressive online services are offering electronic filing software that will file your taxes for free. With consumers turning to the Internet to find such solutions, it is as certain as death and taxes that successful service providers, like the tax prep crowd, will need to leverage online marketing tools to be sure they get the word out. There are a number of tools service providers can deploy to be part of the conversation when the client is ready to buy.

Affiliate marketing refers prospective clients to a specific service provider when the client is most interested in the provider's service. This online marketing channel is of great advantage to advertiser service providers because they are only asked to pay after the prospective client is introduced to them. For firms looking to stay consistently in front of the shifting client base and profitable, connecting with the right consumers through an affiliate network is a low-risk investment worth considering. But this is not the only channel that won't tax the budget while keeping you top of mind

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