HR Block 2007 Annual Report Download - page 12

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10 The expertise segment offers the largest potential for
client and revenue growth.Expertise clients today
account for one of four H&RBlock retail office tax
clients in the United States.Still, that gives us just 10
percent of 42 million total filers in the U.S.expertise
segment.*Certified public accountants (CPAs) and
independent tax preparers dominate with a segment
share of about 75 percent.
H&RBlock reaches out to the millions of mass-market
regular taxpayers who view expertise as an important
part of what they buy from a tax professional.We
stand behind our work with a client satisfaction
guarantee, and getting it right has always been our
company hallmark.We owe that distinction to our
90,000 tax professionals and the best-in-industry
training they receive.After an initial 100-plus hours of
training, the majority of our tax professionals receive
more than 50 hours of education a year.On average,
our clients are served by a professional with more
than eight years of tax preparation experience.They
all have access to the H&RBlock Tax Institute –one of
America’s leading tax research organizations –which
can address tax questions and issues.
To build a stronger position in the expertise segment,
we’ve increased the marketing and promotion of
our tax professionals.The YouGot People advertising
campaign that H&RBlock launched in fall 2006
conveys expertise as a central element of our brand.
YouGot People stresses the accessibility of our tax
professionals and the ability clients have to build
personal relationships with them.The campaign
also conveys that H&RBlock people have advice for
hundreds of occupations, along with the tools and
resources to help find deductions that others might
miss.Millions of tax filers received these messages on
TVand radio, on billboards and in print.
Relationships with tax clients have been deepening
via the new H&RBlock Bank.Two savings products
were launched exclusively for tax clients as they had
their returns prepared during tax season 2007 –the
H&RBlock Easy IRASM and the H&RBlock Easy
SavingsSM account.Since the Bank began operations
in May 2006, approximately 120,000 such accounts
have been opened.The accounts provide clients in
any segment a convenient and easy way to save for
their financial goals at an especially opportune time
–when they are about to receive a lump sum tax
refund.Through additional account relationships with
H&RBlock Bank, we’re looking for benefits in tax
client retention and loyalty to our brand.
We’ve already seen a significant increase in retention
rates for tax clients who fund their accounts with
H&RBlock Financial Advisors, almost all of whose
clients are expertise tax filers.
The availability of financial services from H&RBlock
Financial Advisors provides H&RBlock a strong point
of differentiation with tax clients that we leverage
for competitive advantage.We encourage our tax
*Segment size and share data based on analysis of tax season 2005 data.
EXPERTISE ::