By April 15th next year, 161,148 residents of Fayetteville will file a tax return. More than 53% of these returns will be completed by the taxpayer themselves, either by hand or with the help of an online provider like Turbotax.
Every season, Fayetteville small business owners who specialize in tax preparation services lose customers to the do-it-yourself options. This year, 75,519 local consumers will spend $14.5 million with professionals. But, based on the average cost of services, more than $16.6 million will stay in the wallets of the DIY crowd.
To clawback this enormous amount of money from the DIY market, Fayetteville's tax services will need to advertise the valuable benefits of using a professional.
The best advertising option for professional tax professionals is on Fayetteville radio stations. Here's why.
According to Nielsen, when it comes to driving sales, the most potent media element of an advertising campaign is reach. This is the number of different people exposed to the marketer's message.
Each week, Fayetteville radio reaches 94.4% of local consumers that will use a professional to prepare their tax returns. This is significantly more than are reached by local TV, newspaper, social media, or streaming audio services like Pandora and Spotify.
Advertising to this target audience is important for tax professionals to preserve the current market size by limiting defections to online solutions.
The most lucrative opportunity, however, is for professionals to advertise to consumers who plan to do their own taxes. Once again, radio has, by far, the largest reach among this target audience.
Most local small business owners who provide tax preparation services, generally, cannot afford to use multiple media to reach target consumers. Advertising on Fayetteville radio, though, will reach almost the entire user base of all other media.
To affect the upcoming tax filing season, Fayetteville tax professionals will need to start advertising soon. According to the National Retail Federation, 28.5% of taxpayers plan to submit their returns by mid-February. Another 30.1% will be submitted during the last two weeks of February. Just over 27% will be submitted by the end of March. The final 14% will be submitted in April.
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