John: I have a sales question for you. So you know I’m pretty good at closing deals but I’m very slow because I give the prospect a lot of free information before I sign them up because I just don’t get for myself, and I think my problem is I keep comparing consumers to how I would be the consumer which is wrong because there’s very different kinds of consumers and prospects. But I don’t get how I can get someone to buy transcript analysis when we don’t even know potentially what their problem is. So I have this fear on this side of my head where I’m selling them something that maybe they don’t really need because maybe they don’t really have a problem. But on the other hand I feel like if we get some people to sign up for transcript analysis then they’re more invested, so then it’s easier to get them to sign on for other services that they might actually need. But my question is should we try to sell transcript analysis upfront more often because right now I’m just providing it for free and then only trying to get them to do a deal once we see what their problem is.
Do you think the tax resolution market is too saturated?
I get this question all the time. Instead of the myth, let’s look at the facts.
The Real Facts:
There are only 3,500 to 4,000 firms nationwide that are doing tax resolution today in any meaningful way. But only 200 of those firms do tax resolution as their number one source of revenue. So, the majority, over 90% of firms view tax resolution as just “something they do” if one of their clients’ needs help. In other words, they don’t invest a lot in marketing this service. They have traditional practices with very little emphasis on IRS Representation.
However, there are 14 million taxpayers in the IRS’s collection division right now that have an IRS tax debt large enough to warrant professional representation. 19 million people owe the IRS $391 billion dollars right now. There has never been a time that more taxpayers are in trouble with the IRS than right now!
If you want to learn more Facts vs. Myths regarding getting into tax resolution, watch the video above.
TAKE CHARGE OF YOUR FUTURE
(AND START GETTING PAID WHAT YOUR WORTH!)
WARNING: Adding TAX RESOLUTION To Your Existing Practice Can Double Your Income AND Change Your Life!
The secret to building credibility with your prospects is what I call ACE: Authority, Credibility and Expert Status.
One way to stand out as an authority is by writing a book. Watch today’s video to learn more about becoming an authority.
I want to give a big shout out to one of our Mastermind members, Jeffrey Schneider, who just came out with his book called Now What? I Got a Tax Notice from the IRS, Help. And he hands this book out to prospects, he has it on his website that they can request a free copy. Having a book automatically positions you as an expert, as an author. Author means authoritarian, you know what you’re talking about. So this is one of the best ways to get authority, credibility and expert status. Get your books out.
Do you want to know how to destroy sales resistance and fee resistance between the time the tax resolution prospect makes their appointment versus the time they actually come in?
There are specific 3 things you need to send your prospect in the mail between the time they make the appointment, and the time they show up.
On today’s video I tell you the 3 items that you need to mail to your client. This is an easy actionable plan. Communicating with your client is key to getting them to show up.
The first thing is The Guide to Selecting a Tax Professional and it asks 4 or 5 questions. One question is, what is the professional’s tax record? Another question can be, how will a professional keep information about my case? How will they communicate with me? So you answer all these questions that someone has in their mind who’s shopping around and looking to hire a tax professional.
The second document is the 6 Myths About Tax Professionals. And one of those myths can be myth number 2, all attorneys and accountants have IRS experience. And we know that’s not true. Another myth could be tax professionals listed on internet directories are carefully screened for qualifications. And we know that’s not true.
The third thing you should be sending them, this all goes in one packet, one envelope, these 3 documents, the third thing is is your 6 point or your 5 point or your 8 point plan to resolving your client’s IRS tax problems. And one of those could be we will obtain your transcripts and your records of account from the IRS. That’s Step No. 3. Step No. 6, we will prepare all forms required by the IRS to resolve your IRS problem. So you’re basically giving them a road map to resolution on your 5 point or 6 point or 8 point plan to resolving their tax problems.
So make sure that you communicate. It’s very important to communicate with your clients between the time they make the appointment versus the time they show up in your office or on the phone at the appointed time.
When you’re marketing for tax resolution clients you need to know the difference between a warm list versus a cold list.
A warm list is: People who already know you, their info is already in your CRM system, and that includes your clients, prospects/leads, and referral sources.
A cold list is: People who have never heard of you before and who don’t know you.
When you’re targeting a cold list to market to you need to keep a few things in mind. Watch this week’s video where I give you the step-by-step winning formula that will get a cold list of people to contact you.
Number 1 is you need to market to them and send them at least 3 letters, 3 multi-step letters, and you send 1 letter let’s say on the first of the month, the second letter should go 15 days after that, and the third letter should go 30 days after that. So within 45-60 days they’ve received 3 letters from you. And let’s talk about the envelope. The envelope should look very personalized. It’s like you got to think about getting a letter from your grandma. The letter itself should be very personalized, very customized as if you’re talking to that individual person. And the letter itself needs to have some things contained in the letter. There needs to be an offer. I call it an irresistible offer and an example of that is a free consultation.
The second is you need to have a call to action. You need to tell the reader of the letter exactly what you want them to do and more than likely that’s to call you right now.
So those are the ingredients that you need to have when you’re mailing to a cold list. Let’s review. You need to do a 3-step multi-step letter campaign. Okay. It needs to be individualized, personalized, customized is if that person is getting a letter from a relative. And you need to have the copy and the message to include an irresistible offer and a call to action.
So those are the steps that you need to follow when you’re mailing to a cold list.
We’ll see you on the next video.