Tax season isn’t necessarily a time consumers look forward to, however, for certain audiences it means refunds that can help tackle holiday overspending. According to the DMS 2022 Personal Finance Survey of 250 U.S. adults conducted in early January, 71% of Americans believe they may have overspent during the holiday, and now they need fast, easy financing solutions to deal with lingering debts. For many consumers, tax refunds are a popular way to pay down their holiday debt.
Filing Taxes Early Is The #1 Way Americans Are Solving Holiday Overspending
Among those surveyed, filing taxes early was the top choice to get additional cash during the first half of the year, coming above personal loans, new credit cards, credit card consolidation and mortgage refinancing. This is great news for tax prep marketers ready to launch their customer acquisition campaigns.
But, Not Everyone Is Filing Their Taxes Early To Solve Holiday Overspending
Filing taxes early to resolve holiday overspending was most popular among survey respondents ages 35-64. This is probably because this age group often has multiple “tax-refund friendly” lifestyle factors like children under the age of 17, high charitable contributions and/or homeownership, making them more likely to get a refund and in a timely fashion. After all, filing taxes early only provides debt resolution if you’re getting money back.
Tax season marketing campaigns should reflect multiple audience groups. Yes, we all file taxes. But, no, we don’t all feel the same way about it.
Tax Season Marketing Can Encourage Immediate Action
For Americans choosing tax refunds to help with their debt or to get extra cash, immediate relief is the objective. Tax preparation brands that connect with the right consumers at the right times with clear calls to action are likely to see an immediate boost to their customer bases.
Email can be a great way to connect with tax filers. Marketing campaigns that build email subscriber bases can also provide audience information, including behavioral data about holiday spending and personal finance needs, that can be used while nurturing prospects. To expand reach and customer acquisition while de-risking media spend, third-party CPA-based email campaigns can help tax prep brands engage with and convert people ready to file their tax returns. Contact DMS to learn more.
Seeking New Ways To Maximize Your Customer Acquisition Efforts?
Digital Media Solutions® is ready to help you find new digital performance advertising solutions to scale success. DMS creates people-based advertising campaigns, leveraging our first-party data asset, proprietary technology and expansive media reach to define and engage highly targeted audiences, attracting the consumers with the greatest likelihood to convert. Contact DMS to learn how we can connect you with consumers that need your tax preparation solutions right now.
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