What is a Loyalty Advance?
The Loyalty Advance is a unique benefit that TaxShield offers to your clients. This advance is distributed in $100 increments, up to a maximum of $1,000, and is given to your clients—the taxpayers—as a reward for their loyalty to you. The longer a customer has been filing with you, the higher their Loyalty Advance will be. One of the most attractive aspects of the Loyalty Advance feature for most of our clients is that it is available in December, just before Christmas. This timing helps your customers during the holiday season, which in turn enhances your retention.
B2B Loan
The Loyalty Program is a business loan provided to you, the ERO. You have the flexibility to choose which clients receive the advance.
Starts Mid December
Get to your clients way before anyone else can. This program starts in December before the holidays.
Disbursement methods
Check Printing function available within the CRM allows you to print advances for your clients, or you can simply send it direct deposit.
Incentivize Loyalty
Once your clients realize that every year they continue to do business with you, they'll earn a larger advance, it becomes an expected event they look forward around the loyalty season!
Possess the Tools Necessary to Grow Your Business
Pre-Set Spending Amount
No Capital for a Loyalty Program? No Problem! During the pre-season, we'll work together to determine the optimal amount that will allow you to fund your Loyalty Program for the upcoming tax season.
Multiple Disbursement Methods
Whether your clients have bank accounts that they would like their advance deposited into, or would prefer a check to be printed so they can cash it at a local cashier; TaxShield Software has you covered!
You have the flexibility to determine the method for each advance as you process it through the system. There's no need to make a decision now; you can choose the most suitable option for each individual advance when the time comes.
Technical Support
Learning new software systems can be cumbersome, but no need to worry! Anytime you or a colleague require assistance, join our virtual support center and we'll iron out any wrinkles that may trip you up along the way.
Advance Collection
Know your precise balance at any time, thanks to your Dashboard inside of the CRM We have great relationships with major processing banks to ensure reconciliation is, fast, simple, and accurate.
The complete collection process will be covered in the training as part of the onboarding process. We've partnered with the processing banks to streamline this process as much as possible. Collections occur from the customer's tax return when it gets funded. You are only liable for the advances that don't get funded and the associated advance fees.
Why offer this service?
Increase your retention by double digits! Your customers will start calling you in October and November, eager to know if you’re offering the Loyalty Advance program again.
In a declining industry, thinking outside the box is essential not just for sustaining your business, but for growing it. Retention is key! As filing tax returns online becomes increasingly easy and often free, you need a strategy to keep your customers loyal and returning. One effective way to achieve this is by building a loyalty program that also supports your clients during the holidays. When implemented correctly, you could see retention rates as high as 95%.
You're in Control
Set permissions for your staff and employees. Enable all your employees or owners under your admin account to process an application, and print checks. Each check # is unique and will never repeat, so you can track it through our robust reporting!
Detailed Reporting
Find out what your collection rate is at the end of the season without forensic accountants. Debt list, watch report, cleared check lists, and much more to make sure your Loyalty Advance program operates as planned.
Save Time and Ensure Accuracy
When using one of the many integrated tax software partners, we’ve eliminated double entries! Once you’ve completed a return, simply click on a button, and the Taxpayers info is automatically sent to the CRM. All you’d have to do is verify the social security # and you’re almost done already!
Employee Access Control
Regulate permissions of any employee or owner, under your Admin account. Control who’s able to print, reprint, or void checks. Shut off any employee or owner account access under your admin account, and they will be logged out their account in real time. Assign them to a multiple stores or tasks.
