Still not sure if Tax Season warrants a budget hike this year? Be forewarned… if you’re still planning on running a light-weight, 2-3 week Tax Season campaign, you’re setting yourself up for disappointment.
Luckily for you, there’s still time to right-size your budget and strategy so your 2017 Tax Season campaign rakes in the big bucks. Like we said earlier this week, the Tax Season window of opportunity spans 15 weeks, and you still have a few weeks until the key purchase consideration period in mid-February.
But that means you need to act NOW. Need more ammo to make a case for incremental Tax Season budget? You got it. Let’s talk about the Advertiser Opportunity.
You know you need to run ads for more than [a measly] 2-3 weeks. Next, you need to size-up your opportunity for your brand. This means understanding:
No one can predict how much the IRS will return to taxpayers this year. But we can use historical data and data about taxpayer expectations to estimate and quantify the Tax Season audience and their spending potential. We crunched the numbers, and here’s what we found:
That’s a lot of a money. And a big audience…
So how will they spend their cash? Many Americans treat some or all of their tax refund as disposable income. Here are some of the key categories where taxpayers plan to spend3:
Want to know more about sizing-up the opportunity for your brand? Check out our Tax Season eBook, “Tax Season – the $330 Billion Advertising Opportunity,” to learn more about consumer spending power and creating the Tax Season segments that will convert.
1 IRS.gov; Filing Season Statistics for Week Ending Dec. 30, 2016; Jan. 2017 2 Worldometers; 2017 US Population Estimate; Jan 2017 3 NRF; Annual Tax Returns Survey conducted by Prosper Insights and Analytics; Feb 2016 *Estimates (2017) reflect the same % increase as 2016 (vs. 2015) ^Based on projected 2017 population2, % of taxpayers in the U.S, and % that expect refunds3
Magnetic is a digital marketing and artificial intelligence company. We use machine learning and AI to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of 320 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant and profitable campaigns for our clients.