The way consumers are researching and buying financial products is evolving as the use of mobile devices continues to grow. Knowing this, and understanding when and how they search, tax professionals can serve consumers in their greatest moment of need through a pay per call campaign.
Below are three strategies that tax professionals should pay attention to when considering a pay per call campaign, especially during this year’s tax season:
Update Pay Per Call Bidding Strategy If Necessary
The chart above shows average weekly call duration in tax-related verticals for during the four weeks leading up to and four weeks at the beginning of the season.
Advertisers can bid in a few different ways, including per impression, per call, and by duration (learn more about how to choose the right bidding strategy). Advertisers should consider using both impression and duration bids at different points during the tax season. During weeks with lower-than-average call durations, typically early January, impression bids are more cost effective than other bid types, and allow advertisers to promote their services to the largest number of potential customers without exhausting their advertising budget.
Though more expensive, adjusting their bidding strategy to be more duration-focused during February and for the remainder of the season will allow tax professionals to capture more qualified and relevant leads for their business.
Using both bid types effectively can increase lead generation and prolong advertisers’ budgets, which means a greater return on investment.
Answer the Phone—Because the IRS Won’t
According to Forbes, during last year’s tax season, approximately 83.2 million taxpayers contacted the IRS by calling Customer Account Services, and only 8.3 million of those calls were actually answered by a service representative. How many unanswered questions did this leave taxpayers to answer themselves? Pay Per Call allows businesses to be there for consumers during their greatest moments of need.
We’ve already noticed a 19% increase in call duration this tax season compared to last, meaning consumers are willing to spend more time on the phone to get their questions answered. This gives tax professionals the opportunity to leverage the increased interest to find new customers.
Save Advertising Spend for Procrastinators
If advertisers have a small budget, we suggest leaving quite a bit to capture last minute taxpayers, as they can greatly impact the ROI of pay per call marketing campaigns. In 2015, our platform experienced a 113% increase in call volume during the final week of the season, and according to the IRS, nearly 25% of Americans missed the April 15 deadline last year.
Pay per call marketing allows advertisers to capture early filers to last-minute filers. To learn more about how tax season traffic can impact your marketing strategy, check out our infographic on last year’s tax season, or contact us at firstname.lastname@example.org.