How to Drive Increased Revenue with Tax Season Sales
It’s almost that time of year again. Come April, citizens and businesses alike will perform our civic duty by handing over a portion of our earnings to the government. Tax season is upon us.
It’s also the time of year savvy retailers can make a ton of profit. Tax season presents a unique opportunity for the business world. Once a year, some customers find themselves with a chunk of extra cash burning a hole in their pockets. In other words, the spending ability of individuals all across the country is extremely high during this time.
With the right targeted messaging and E-commerce capabilities, your business can cash in on a shopping holiday season that rivals the likes of Independence Day, Memorial Day and even Black Friday. So join Dirxion for expert advice on how to get the most bang for your buck this April with tax season sales.
Why Hold Tax Season Sales?
Everyone, and we mean everyone, has to fill out a tax return form once a year. In 2022, about three out of every four Americans received a tax refund, with the average refund coming in at over $3,000. For many people, having extra disposable income creates a desire to make purchases they normally wouldn’t consider other times of the year. For example, how many times have you either considered or knew someone who considered, waiting until your tax refund came in to buy a new TV or get that fancy air fryer everyone is talking about?
Customer intent is there during tax season. All you have to do is tap into it. Your marketing and outreach during this time of year can be crucial to helping customers choose you over the competition. One way to do this is with a sale.
For years, big box furniture and home improvement stores have created special tax season sales to encourage consumers to shop with them. From cars to power tools, lowering prices on these items has helped shift inventory during a time when businesses would normally see fewer purchases. If you aren’t currently planning to host some sort of tax season sale, special or promotion, you should consider it.
How to Create a Legendary Tax Season Sale
Great bargains are always a major draw when customers are deciding whom to buy from. But promoting your products is what makes the real difference between a sale and a fail. Here are some expert strategies to help you stand out this tax season.
Put the “Fun” in Refund
There’s no reason to be coy about why you’re having a sale. Tax refunds are top of mind for everyone right now. Channel some of that into a clever marketing campaign. Maybe instead of just having a sale or deal, you frame it as customers getting a “refund” on the difference in price. Changing the way you talk about your tax season sale will help you stand out while helping customers form the connection between their tax refund and which of your products to spend it on.
Prepare an Early Filer Special
The thing about tax refunds is, not everyone receives them at the same time. Some people file as soon as filing opens and receive refunds within days. Others wait until the last minute and don’t receive their refund until weeks later. The method filers use to receive their refund can also influence the length of time between filling out returns and money hitting their accounts.
Hosting an early-bird tax season sale allows you to begin promoting your products early and often. Additionally, specifically targeting early filers may increase revenue as you have a chance to reach them with your messaging first depending on how early you begin your campaigns.
Debut a Special Product
Celebrate tax refunds with customers by introducing a special tax season product! Admittedly, this is more likely to be successful in the food & beverage industry. Run a bakery? Why not decorate some cupcakes as “Cash Cakes” for the day and create a Tax Day deal for them? If you run a travel agency, you could offer special Tax Day booking deals to select destinations. The possibilities are endless. All that’s required is a little imagination. But whatever you choose to do, you’ll have a unique product that can tie your brand and tax season together.
Create Time Limited Deals
It’s called a tax filing deadline for a reason, after all. Use a sense of urgency to convince your customers to make a purchase before the deal is gone for good. You can use this as a great opportunity to draw attention to and sell inventory that may be starting to go out of season.
It can either be a single-day flash sale on Tax Day, or you can have daily deals leading up to Tax Day two weeks out. Either way, make sure your website, social media and catalogs are prepared to showcase these items so your customers don’t miss out!
Prepare Your E-commerce Website and Catalog
Do yourselves and your customers a favor and make sure your website, purchasing platform and product listings/product catalog are ready to go before you kick off your tax season sale.
As mentioned earlier, customer intent is all around during tax season. But a poor user experience can throw up a major roadblock during the “Hi-to-Buy” journey. You want your marketing messaging, website, product offerings and checkout mechanism to all be speaking with the same voice.
That’s where Dirxion can help.
Craft the Perfect Buying Experience with Dirxion
Dirxion doesn’t just create digital catalogs. We forge uniquely tailored E-commerce interactions that connect seamlessly with your entire web ecosystem. With a Dirxion E-commerce catalog, users can easily find the exact product or product line they’re looking for using our integrated search function, navigate directly from featured website specials to the correct product page and vice versa and even purchase products from directly within the catalog interface. All products are made to be easily shareable so customers can grab and post your amazing tax season deals directly to social media for even further organic reach.
With our built-in cross-linking and E-commerce analytics, your website, social media channels, purchasing platform and product listings all become a single organism working towards your business goals. But best of all, Dirxion offers a cost-effective, timely solution that’s shown to drive higher revenue. Need a quick turnaround on tax season product offerings? We’ve got your back. Our full team of in-house developers can quickly create a stand-out, customizable, uniquely branded, sales experience that ties the rest of your Ecommerce capabilities together.
We Do All the Heavy Lifting
Creating an integrated E-commerce catalog with Dirxion couldn’t be simpler. Just send us a PDF of your current catalog or product offerings, your product SKUs and a list of which products you’d like to feature for your tax season sale. We’ll handle all the rest. We can even create a custom URL for your Ecommerce product catalog and host it for you. Don’t miss out on increased sales this tax season! Increase your revenue with an integrated E-commerce solution from Dirxion. Ready to discuss your tax season sale? Contact us to speak with the E-commerce experts at Dirxion today.