The latest TaxTech session on 7 July 2021 focused on strategies for successful market positioning, acquiring new customers, sales onboarding and cold calling in the current climate.

The participants agreed that it is important to gain an overview of the market. This ensures that the company understands how it is positioned in the market.

Why it is important to set targets

By setting targets and planning, the company does not get lost in the hustle and bustle of day-to-day business. This makes it possible to gauge the company’s direction and progress. Furthermore, a Business plan an overview and certainty. An important aspect of this topic is setting KPIs (Key Performance Indicators). If the right KPIs are monitored, performance can improve and the company can thus learn from the experience more easily.

In addition, the following points were raised in connection with the business plan:

A strategy for acquiring new customers and managing the associated costs (Customer Acquisition Cost) should be developed in good time. As customer acquisition is a complex process, failing to take it seriously can cost a company a great deal of money.

SWOT analysis (a matrix with four sections: strengths, weaknesses, opportunities and threats): This analysis can be used to assess the company, as well as to monitor other market competitors.

The next question that arose was how a company can establish a sales structure that attracts new customers independently. Running a sales department alongside the marketing department is particularly important because not every potential customer proactively completes the purchasing process. In such cases, sales acts as the tool to help the customer make a decision.

Goals of staff and the company

„There are as many perspectives as there are people.“ – Employees have different approaches. That is why it is necessary to develop an onboarding system and document processes, so that all employees are on the same page and can work as a team.

Documentation, diagrams or infographics can help with induction. This enables new staff to familiarise themselves with the company’s vision as quickly as possible. Some platforms mentioned in the TaxTech roundtable include: Confluence and Microsoft SharePoint.

The next step in the induction process is to draw up plans setting out the employees’ targets, which are set to rise continuously.

Partnerships to reach new customers

The next topic discussed in the TaxTech roundtable was collaborations and partnerships aimed at achieving greater reach.

Furthermore, questions were raised as to how effective newsletter marketing is these days.

The participants in the discussion agreed that the newsletter should not be underestimated, but that quality should be prioritised over quantity.

Marketing and sales initiatives should offer customers added value, rather than simply focusing on the product and its features. This enables customers to explore the subject in greater depth and identify the pros and cons for themselves.

TaxTech.Online || The Collaboration Exchange: Make a note of the upcoming events in your diary so you don’t miss a thing, and be sure to join us next time – every second Wednesday at 5 pm on MS Teams.

The next TaxTech session will take place on 21 July 2021 at 5 pm. You can find out more at https://taxtech.online/ find out.