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The $ocial rEvolution at TurboTax“Friendcasting” in the age of media anarchy
Seth Greenberg, VP Global Media & Digital Marketing @SethG
A leading provider of business and financial management solutions
Who we are
Our Customers
15M Quicken/Mint
Consumer Users
250K Accountants
1,600 Financial Institutions
Serving9M
End-customers
>20M TurboTax
Users
7M Small Business
Users
Based on Intuit estimates
Proven formula: lots of delighted customers…
Improving
Lives50M
Our Mission: To be a premier innovative growth company that improves our customers’ financial lives so profoundly…they
can’t imagine going back to the old way
Best in Class = > 93%
Best in Class = > 84%
Enabled by talented & engaged employees
4
Most Admired: Software Industry
Fortune Top 100 Places to Work
Strong Employee Engagement
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY1070
80
90
100
7875 76
83 84 83 83
79
7 Years in a row
2004 2005 2006 2007 2008 2009
World’s Most Admired Companies
Leaders in all of our markets
Consumer Tax Prep
#1Personal Financial
Management
#1
Small Business Financial Management
#1With Accountants
#1Online banking forMid-sized financial
institutions
#1
Advertising Challenge: Navigating through a Complex Ecosystem to Achieve Great Outcomes
Integrated Marketing Eco-System
Analytics for Data Driven Decisions
- In-Channel Optimization- Cross-Channel/Platform Engagement Measurement- Predictive Analytics- Testing for impact
Search
Social
Display
Affiliates
Mobile/Emerging
EmailRadio
TV
Outdoor
Direct Response
Organizing for Integration
OfflineObjectives
OfflineMediaPlan
OnlineObjectives
OnlineMediaPlan
OfflineObjectives
Online Objectives
OnlinePlan
OfflinePlan
Old Approach New Approach
Integrated Principles
First Time Customers
0.0
20.0
40.0
60.0
80.0
TY09
6%4%
41%
28%
4%
7%4%4%
100.0%
Recommendation/word of mouth
Television commercial
Financial institution/brokerage firmsuch as your bank or cr
Advertisement on a website
Search engine or web portal such asGoogle or Yahoo
Saw it at a retail store
The I RS website
From your employer or payrollprovider
Other
Q: To the best of your knowledge, how did you first learn about TurboTax?
Source: Customer SurveyFFA Excluded
Source: 2010 TurboTax customer survey
Learnings from a Brief History of our Social Media Universe…Orbiting around our product
Ping Pong and TaxesA Guerilla Mktg Experiment
The Tax Laughwith Jay Mohr
FY10
Ft. Vanilla Ice
Incented Updates
Social “ME”diaA key piece of our communication strategy
Customers
Live Community
Reviews
TurboTax Blog
Inner Circle
3rd Party Blogs
Forums
Why do we do social?
Can be an influential persuasion engine by empowering our customers to be our
best sales force
But There is a Lot of Noise
So How do you cut through the clutter?
Friendcasting: TurboTax Social MEdia Big Bets
1. Facebook Share – Customers publish moments of delight to their newsfeed
Objective: Promoting TurboTax through “Friendcasting” will help drive sales via WOM and trusted networks.
2. “FriendsLikeYou.com” Reviews -Connect people to reviews written by “people like you” and/or their actual friends
Objective: Innovate new ways and places to read and personalize customer reviews to drive sales
15
Big Bet #1: Publish to Facebook Newsfeed
15
HypothesisEnabling our customers to becoming a WOM Army through “Friendcasting” will drive sales
Learnings: The Social Conversion Funnel
2a
Facebook Newsfeed
Friend’s FB News Feed
1
2
4x Display Avg CTR+30% Conversion rates+79% New customers
1. Customers Exposed in product to FB Share
1. Customers who actually Share or “Like”
2. Friends who receive messages in newsfeed
2. Those who Click to site
2a. Friends who commented
3. Friends who Purchase• Consider:
Proper attribution of influence to exposed but didn’t click
• Comparison to other marketing vehicles (cost efficiency, effectiveness)
Inside TurboTax Product Experience
10M
100K
Example #s(not actual)
15M
500K
2M
100K
Friendcasting = No Media Costs!
Debunking common Myths and Excuses
Social can be measurable. It is about the driving revenue and impact.
AuthenticityTransparency
Viral BuzzFans
Friendcasting: 4x Display Avg CTR+30% Conversion rates+79% New customers
Friendcasting
Big Bet #2: Making 100K reviews relevant. Extremely so.
Hypothesis:Making reviews extremely relevant will drive higher conversion
Testing included•Homepage Tests•Display banner tests•Landing Page tests•Microsite• SEO Ranking #1 for “TurboTax Reviews”•High CTR
•More tests in the hopper
Success Metrics•“Social as an Asset”: A/B Tests to prove that customer ratings and reviews can drive incremental revenue
Key Learning:
Don’t sit on your ASSets…
Distribute the Goodness!
Mashup: Advertising meets Social
NYTimes Example
GPS & Friends Like You Campaign
Cross Platform Social Integration: Innovative Campaign with NBCU
10 CUSTOM TV SPOTS ACROSS NBCU’S MOST POWERFUL PROPERTIES AND PLATFORMS….PRIMETIME AIRINGS
TurboTax makes it easy toget your Maximum Refund
NBC Talent in Custom Vignettes Driving Online FriendsLikeYou.co
m
Integration – Offline Driving to Online
Online Driver
Prime Time ABC Jimmy Kimmel
Backstage @ the Grammys
Learning: Social Campaigns Recruit Great Talent
5 Tips for hiring success:1. Treat it like a marketing campaign, be
creative and break through the clutter, Vanity URLs, tap your own social network and be wherever appropriate and unique that targets the best prospects
2. Hiring Managers own the outcome. Lead the process, pre-screen resumes, continue to optimize the “campaign”
3. Be proactive with your recruiter. Make this event (from conception through offer) one of your top 3 priorities each day
4. Partner up with your recruiter, stay connected every day (show appreciation for what they do)
5. This is the one time where the lower the conversion rate, the better
TheCoolestJobatIntuit.com•175 Resumes•Turning the tables on hiring process•Glamour Magazine Featured Article•2 cyberstalkers
• www.TheCoolestEmployee.com• www.TheCoolerEmployee.com
Thank You and congrats ANA on the big 100!
Seth GreenbergVice President, Global Media & Digital Marketing
Intuit, Inc
Twitter: @sethg
