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Case Study – Intuit (INTU) Understanding Tax Season Trends April 2012
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Objectives
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Project objective tips
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• Keep scope narrow - Makes survey creation simpler, quicker - Makes data analysis actionable
• Keep objectives focused - Focus on key data needs, not “nice to have” info - Work backwards
• Consider writing or creating your report or presentation first to determine the questions you really need to ask
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End objectives
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• We surveyed 500 tax filers to understand which providers they used to file taxes - [X]% of filers used online programs
• Which providers are most popular for online filers? - [X]% used TurboTax, [X]% used H&R Block, [X]% used
other providers
• How often do tax filers switch providers they used in prior years? - [X]% switched providers in 2011
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Project Summary
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Audience project summary
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• Survey population: 600 consumers • Targeting criteria
- Age: 18+ - Geography: all US - Gender: 50% male / 50% females - Income: at least $5,000 in 2011 income
• Targeting goals - Seeking at least 500 tax filers - Using small income target to filter out any highly
unlikely filers (e.g., full-time students)
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Survey Questions
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Survey question examples
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Survey question examples (cont’d)
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Survey Data
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How popular is online filing?
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• The majority of tax filers used online services to file their 2011 taxes
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Which services were most popular?
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• TurboTax had a leading market share of 47%
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What other services were used?
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• 55 respondents picked “Other”
• Open text analysis and categorization shows Accountants or Tax Advisors who filed on behalf of customers were the most popular in the “Other” category
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Do tax filers switch providers?
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• 89% of online filers used the same service for 2011 taxes as they did in 2010
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Which service to they use if they switch?
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• Results were filtered for those who used a different provider for 2010 taxes
• TurboTax 38% market share for those who switched, slightly below it’s 47% total market share
• Since only 8% of people switched providers, this is a small cell with only 21 data points
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Conclusions
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Key conclusions
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• ~66% of tax filers filed online • TurboTax has ~47% market share for online filers • ~89% of filers use the same product for online
filing each year suggesting strong retention characteristics