Project on

PRACTICAL APPLICATION OF DIFFERENT SALES STRATEGIES TO INCREASE THE

CUSTOMER BASE OF ONLINE TAX FILING SERVICES IN INDIA

Submitted by:SANDEEP MISHRADIV: A2MROLL NO.: 44

Internal Guide:Prof Shikha Sindhu Mann

Company:

H&R BLOCK India Pvt. Ltd.

EXECUTIVE SUMMARY

• This project involves finding scope and potential clients for Individual tax filing services in the market & establishing partnership with such companies.

• Carrying out business development and promotional activities for these companies.

• Process and planning stage includes conducting Exploratory research for lead generation through various database websites, company websites, social media platforms, professional networking sites, references from friends and family etc., followed by cold calling and fixing appointments with concerned managers.

• Promotional activities involved promoting H&R Block’s services in the organization for spreading awareness of the services offered by arranging help desks, putting up marketing collaterals, distributing information pamphlets etc.

INTRODUCTION

• The project is about the business development activities carried out for H&R Block’s Individual Tax Filing Services.

• H&R Block, a US based income tax filing Service Company which entered Indian market 4 years back is in a market penetration and growth stage.

• H&R Block in India provides individual income tax filing services through following 3 major channels:

A. Do it on your own (DIY)B. Online AssistanceC. Retail

• This project focusses on the implementation of various sales strategies in expanding the customer base of the company.

REASONS FOR SELECTION OF THIS PROJECT

The tasks & activities planned by H&R Block for business development were as follows:• Lead generation• Cold calling• Business to business sales• Customer relations• Promotional and branding activities

These activities were meant to be performed and looked after by as a

business development manager and interns.

The primary aim while working on this project was to cover all

the tracks and activities performed by interns and to put

all learning experiences in it.

Hence as an intern I was looking for a Title which will reflect all

aspects of my work done during my Internship tenure.

INDUSTRY OVERVIEW

Degree of Rivalry- (high and increasing )

Companies in this industry compete on price, brand awareness, and service quality. The company’s reputation is the factor that differentiates itself

from its competitors.

Barriers to Entry- (low and stable)

This industry requires no large investments to

enter other than physical offices capable of

housing individuals with expertise in tax

preparation and business consultation

Buyer Power- (high and stable)

Tax services are very price sensitive.

Consumers look for whatever service is the

most inexpensive as long as quality remains high. Other inexpensive options for individuals

such as online and software assistance.

(Threat of Substitutes- high and stable)

Online and software tax services have diminished the need for many who

seek tax preparation services. Individuals

even have the choice to prep their own taxes, avoiding all additional

costs.

Supplier Power- (high and stable )

This force is at a high level due to tax

professionals’ ability to join other tax service

firms or work as independents once

they are trained and experienced.

PORTER’S 5 FORCES ANALYSIS

COMPANY PROFILE

• Is a tax preparation company in the Kansas City(US), claiming more than 24.5 million tax returns prepared worldwide.

• offers services like banking, payroll, personal finance, and business consulting services.

• was founded in 1955 by Brothers Henry W. Bloch and Richard Bloch

• operates 11,000 retail tax offices in the United States till date, and another 1,700 abroad.

• offers its own consumer tax software called “InTax” in India, as well as online tax preparation and electronic filing from their website.

• has offices in Brazil, Australia, Canada, and India.• in India has offices in Ahmadabad, Pune, Delhi,

Bangalore, Gurgaon, Hyderabad and Mumbai.

H&R Bloc

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Vision

• H&R Blocks’ vision reflects the opportunity we see to execute our purpose successfully for our clients: to be the leading global consumer tax company bringing tax and related solutions to clients year-round. We are about consumer tax in the global market with access anywhere, anyway, anytime.

Mission

• We have faith and total believe in our people. We take care of our clients. We deliver excellence for our shareholders. We do the right thing.

StrengthsEstablished and recognizable brand

name and service quality Largest tax preparer in the US

Strong capital position and access to capital to support seasonality of work

because of agreements with HSBC Recent focus on its largest revenue

producer and most profitable segment, tax services

Weaknesses Seasonal hiring practices makes access to a qualified workforce

difficult to maintain Majority of revenues are made in

the months January-April

Opportunities Increases in tax return complexity

leads to standard price increases for both tax and accounting services.

Economic rebound will lead to increase in number of tax

preparations. More specific IRS certification and licensing of tax preparers increases

barriers of entry to smaller tax operations.

Threats Trend toward lower margin digital tax

solutions Competition from other online &

retail service providers.Recession Encourages savings with

Do It Yourself ServicesPotential Tax Changes By

Government.

SWOT Analysis

PRODUCT PROFILE• Do it on yourself:• This channel provides free tax filing services all over the world.• any person can file their taxes by using this channel from any corner of the world.

But he/she will not get assistance from the tax expert. That person has to calculate his own taxes and file it.

• Online assisted filing:• Clients make an account on H&R Block website and upload the relevant

documents required to file returns. A tax advisor is then allocated to one client who files the return within 48hours.

• In online assisted filing, the client does not have to do anything other than merely uploading his tax documents online. The rest is taken care by the advisor, who prepares the return.

• Retail tax services• In this channel generally H1 managers such as CEO, CFO, etc. of the companies &

high income businessmen are consulted. • They take the appointment of the tax advisor and meet him & get expert guidance

on one to one basis. • The advisor helps in filing the taxes as well as advices him for future investment. • These services are given only at retail office.

SALES STRATEGIES APPLIEDAdvertising: • BTL sales promotion techniques were mostly used to advertise the products which included

handing over flyers • ATL sales promotion was also used, in which an small commercial was published in YouTube &

FM. • Also banners and billboards were printed & set up in different parts of Hinjewadi & Hadapsar.Sales Promotion:• Flipkart coupons of INR 500 were provided to all the first time customers filing their Income Tax

returns with H&R Block. • They were also given an opportunity to earn as much as INR 5000 by referralsPersonal selling: • The B D team gave PPT presentations to the client’s Human Resource/Admin or Finance

personnel about the services of the companyDirect Marketing: • The company sends Direct Mailers customized specially for customers including the instructions

for filing Income Tax & reminders for important dates & updates. • The customers received calls from H&R Block regarding confirmation of their application and for

resolution of their problems Affiliate Sales:• Some firms like Aggarwal associates and Tax Spanner were appointed as affiliates who filed their

client’s IT returns through H&R Block and used to get paid in return.

TASKS UNDERTAKEN• The various tasks undertaken for H&R block’s business development are as follows:

Database creation – through Internet websites, personal references & Sample database provided by company.

Knowledge base creation/ Lead generation - finding out managers who look after Finance/ Human Resource/ Payroll/ Compensation & benefits.

Pre approach –• To create awareness about H&R Block’s services amongst companies• To connect with concerned managers• To generate leads• To explain and offer services to companies• Fix appointments with concerned managers Approach – • Personal meetings and presenting services before managers • Help companies understand perks,& benefits of services of H&R Block • Convert potential customer into customers

Post partnership procedures – • Noting down the client’s requirements, if any.• Sharing legal documents, if required.• Serving clients.• Sending escalation matrix.• Sending reminder emails on regular intervalsFollow ups – • To pursue potential clients.• To maintain good bond with customers• To cater to customers’ needs and problemsCampaigning –• A helpdesk is put up in the premise of the company where one can get maximum

employee attention.• To get the attention of employee and to spread awareness, standees were put up and

posters were posted on notice boards• Helped in:

1. Spreading awareness about the online income tax filing services.

2. Helping customers understand about the use of services.

3. Branding of H&R Block and promoting its services.

MANAGEMENT LEARNING

Importance of Time

Management

Basics of Taxation

Working in teamsUnderstanding the process of filing returns

Professional Attitude