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Sovos Partners with HawkSEM to Boost Conversions and Revenue for eFileMyForms, 1099Pro & TINCheck Through Strategic Paid Search
Tax compliance tools for SaaS and finance
About Sovos
Sovos is a leading software company providing real-time tax calculations built for modern SaaS revenue streams and models. Along with these offerings, Sovos also brings people more specific tax-related services, such as 1099 filing and IRS TIN/name matching, through eFileMyForms,1099Pro, and TINCheck.
The Goal
eFileMyForms
Sovos eFileMyForms is a business tax preparation and tax form retailer, catering to US-based small businesses, offering ala-cart tax form downloads on a per-download pricing model. We were enlisted to help the company meet or exceed its fiscal year 2022, 2023, and 2024 goals of net-new purchasers and revenue.
1099Pro
Sovos’ 1099Pro offers enterprise-level tax filing services for companies filing more than 100 forms. Its software allows filers to print and mail their taxes or file electronically. The team wanted to increase sales, gain market share, and grow their customer base.
TINCheck
Sovos’ TINCheck offers enterprise-level tax ID verification to help protect organizations by verifying customer and vendor data through government databases and watchlists to maintain tax and legal compliance. TINCheck’s goal was to find new tactics for meeting growth goals in terms of sales and revenue.
The Challenge
eFileMyForms
Along with helping the eFileMyForms team meet and exceed fiscal year goals, we needed to effectively demonstrate generally improved performance year over year. We also wanted to bring the account up to best practices from a structural perspective and improve brand keyword competitiveness through automated bidding testing and analysis.
1099Pro
With physical software becoming a smaller industry, 1099Pro contracted HawkSEM for help with increasing sales revenue, gaining market share, and attracting new customers. Particularly, we saw a need to better attract potential buyers who have specific use cases and to leverage tools like Google Shopping and Google Merchant Center.
TINCheck
TINCheck hired HawkSEM because they were having issues meeting quarterly and annual growth goals for both revenue and sales volume.
The Result
eFileMyForms
1099Pro
TINCheck
The Solution
eFileMyForms
We create landing pages that provide a seamless experience for users looking for the most popular forms or those with shifting deadlines for submission. From there, we allocated budget to campaigns and paid tactics driving the highest revenue, average order value, and ultimate return on investment. Lastly, we strategically directed automated bidding methods to focus on both conversion actions, which increased customer retention and net revenue.
1099Pro
Our team segmented the account based on form type to attract more potential buyers. We also adjusted budget allocation based on the most popular forms during tax season and certain form filing deadlines. We took advantage of changes in tax codes and created campaigns based around some of these changes to attract new users unfamiliar with the new tax laws, who now need the support 1099Pro offers. Lastly, we leveraged Google Shopping and Google Merchant Center to promote 1099Pro’s physical software options more prominently in search results.
TINCheck
First, we worked to segment the account in a way that would improve Quality Scores and gain more brand visibility in a competitive market. We also maximized budgets based on seasonality and purchase history to be most visible when users are most likely to buy. Lastly, we continually audited search queries and keywords based on performance to have a substantial data set.
The Impact
eFileMyForms
Between Q1 FY23 and Q1 FY24, for 2% more media spend, the result was a further 32% gain in revenue, despite 4% fewer conversions. This shift in revenue vs. conversion volume indicated that off-season strategy and many more account sign-ups resulted in more overall later purchases.
1099Pro
To increase average purchase values, we tailored our ad copy, keywords, and landing pages to primarily focus on the enterprise-level software rather than the lower-cost entry-level software. Due to the pool of potential customers, increasing the average order value was crucial to increasing revenue.
TINCheck
TINCheck’s peak sales season is centered around taxes, January to March. With our heavy seasonality based strategy, we saw more revenue each year after taking over in late 2022, with significant conversion rate improvements. Additionally, in the lower budget quarters, we were able to be even more efficient by narrowing our campaigns to a smaller set of keywords and match types focusing on discovery and awareness.
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