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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