16 1 / 2012
A Tax Preparation Company Using Social Media?
Tax preparation would be one of the last markets that could utilize social media in their business strategy to boost sales…or so you would think.
H&R Block recently announced the incorporation of live video chat with a tax expert while using their online tax preparation tools. They also have a secure phone application where customers can take photos of their documents and send them to the tax expert to instantly review while in video chat.
Not only can you video chat from your living room at any time with a tax professional, H&R Block ties their traditional stores online by letting customers find one of their office locations and schedule an appointment.
H&R Block has seen their low-overhead, online competitors, TurboTax and TaxSlayer, eat into their brick and mortar tax preparation services and over the past few years have changed their online strategy big time. TurboTax and TaxSlayer’s online products only offer phone and email support, making emailing a document for review a hassle. H&R Block’s new social tools puts them light years ahead of their competition in terms of support, availability and response times. They were the most accesible tax preparation store but can they regain their dominance with an online strategy shift?
Since tax preparation is seasonal, H&R Block wins this year. TurboTax and TaxSlayer probably don’t have enough time to release a similar online support toolset this season but expect them to come back next season with more competition.
Facebook tax preparation application, anyone? Maybe next year we’ll see one.
