Intuit is considering several strategies for growth, including gaining insights through data analysis to better understand customers and tailor offerings. They are exploring providing lower prices in low-income states, investing in prospective customers like college students, and creating more granular software products. Intuit also aims to bring back loyal customers through rewards programs, improve the customer experience with "Ninja Warriors" support teams, and expand into new areas like personal finance management and global markets. Experiments and marketing strategies involving data analysis and customized approaches by state are discussed.
2. AGENDA
1. Gaining Insight through Data - Creating Ecosystems
2. Providing tailored prices on products to low income states
3. Investing in your prospective customers
4. Granularity - creating finer granular software product lines and bundles
5. Bringing Back the Loyal Customers
6. Gamification Strategies for Customers
7. Ninja Warriors Team across various divisions
8. A step forward in personal finance management
9. A step forward in becoming global leader
10.Experiments
11.Couple of notes on Marketing
12.Little bit about me
4. GAINING INSIGHT THROUGH DATA
I have created few visualizations of
data collected 9 states from
2010-2014 for employment, income,
and commute medium (collected
from census.gov and google trends)
We can derive numerous
information and their applications
can run from corporate strategies,
marketing strategies, to product
strategies.
All the pictures and visualizations, in
this presentation, are original
(except from one image got from
google images with courtesy)
5. INTERNET SEARCH INTEREST FOR INTUIT PRODUCTS
The advantage of
piggybacking Turbotax
Around Half a Million
QuickBooks Users
Widely used and Highly
admired app ‘Mint’
In a long term project
Intuit shall look into the
possibilities of creating
a homogenous
ecosystem for all of
their products
Intuit can initiate
projects to email or
send app notifications
about turbotax to the
customers of mint
9. PROVIDING TAILORED PRICING FOR LOW INCOME STATES
Customers will be better inclined in buying the product if the cost of the
product in in small fraction of their tax refund amount
From the above sample data visualization Intuit can see performer
states with their highest average income and Intuit, by correlating with
their tax refund data, shall come up with some plans for customers in
low income states. (Graph: ‘Average Income of States in Financial Crisis’)
Intuit may want to probe into a product line of Turbotax for Armed
Forces professionals as that category has own set of guidelines and
regulations for tax returns. Or get those families buy bundled Turbotax.
(Graph: Number of people with low income per state 5 year data)
10. For corporate
social
responsibility
Intuit shall carry
some social help
programs for
families and
individuals with
low income
category (Blue,
Green, and Red
lines in the graph)
The programs can
range from free
small vocational
training programs
for getting higher
salary jobs,
sponsoring
computers to a
community
college.
Including and
encouraging
employees to
provide trainings
to such people.
NUMBER OF PEOPLE - ECONOMIC SEGMENTATION PER STATE 5 YEAR DATA
11. INVESTING IN YOUR PROSPECTIVE CUSTOMERS
Tie ups with colleges and food chain restaurants for Turbotax as their
official product to file tax returns.
Around 4000 colleges with enrollment of 17 million students with the
completion rate of 59%.
There are major restaurants chains in USA where many college students
work part time but they might not have best tools to file tax returns.
Intuit Turbotax shall be their first choice to file along with Mint.
High growth in increase in number of international students in USA. This
could be a niche market to look into.
12. GRANULARITY - CREATING FINER GRANULAR SOFTWARE PRODUCT
LINES AND BUNDLES - PROVIDING FEATURE AS A SERVICE
Image Courtesy: Google Images
Benefit: Creates a unique experience for customers to buy the only features that are
required.
13. BRINGING BACK THE LOYAL CUSTOMERS
Turbotax received 1 Rating of 44% for Deluxe and 48% for Premier
Collect Reviews -> Analyze -> Ideate -> Collaborate
A new tier of customers - Matt Damon Tier
Matt Damon because he has been rescued in many hollywood movies including
recent movie called ‘The Martian’.
Create pilot projects for email campaigning and providing lower/earlier rates to the
loyal customers
GAMIFICATION FOR CUSTOMERS
Provide reward points for
referrals
answering queries on Intuit communities
filing tax before time
being a loyal customer
Points can be redeemed at websites like Amazon etc.
This will create a healthy environment in customers as it pays them for their
experience with the product and they will remain engaged to Intuit products
14. NINJA WARRIORS TEAM ACROSS VARIOUS DIVISIONS
What customers are looking for is a hassle free customer care service.
Creating Ninja Warriors in various divisions of company and they will
leverage their expertise in solving respectable issues in the divisions
Get help from CSR calls Data. The raw data of customers calls reveal a lot
of pain points to customers and also CSRs while using respective software.
Retrospections will one of the biggest knowledge repository tool for such
warriors.
15. A STEP FORWARD IN PERSONAL FINANCE MANAGEMENT
Intuit has been a leader in accounting software and tax filing software market for many
years
Intuit shall look into a new vertical for mobile payment and mobile portfolio
management apps that would create a homogenous experience for a user
Apps like Stash, RobinHood, digit.co have been grabbing attention and show a
promising growth.
Intuit shall enter in mobile payment market with acquisitions of new companies like
Minkasu.
Rigorous research in various global markets
To determine barriers of entry probing into many constraints is
necessary few of those including but not limited to-
countries with most complicated tax system
countries which deduct maximum tax
countries which offer free tax filing software
countries which are emerging markets
countries where tax structure is similar
A STEP FORWARD IN BECOMING A GLOBAL LEADER
16. EXPERIMENTS
Intuit has been performing various experiments on their software and
receiving feedback from the customers
It can always strive to perform better experiments
Examples
Observe money spending habits Vs Avg. Annual Income per state
Advise customers on savings as per the data collected in the
previous points
Sending a notifications of apps with some defined keywords to
record the reactions of the customers (e.g. If customer resides in NY,
notification may include average returns for NY state in the image)
Total time spent on standalone, web, and mobile applications
Web Applications
Number of clicks and median idle time
Number of times ‘Help’ link is clicked
17. COUPLE OF NOTES ON MARKETING (1)
Data Clustering like by creating matrix collection of
‘where the product is searched the most per state’
‘total money spent on marketing and operations per state’
‘revenue per state’
That shall provide Intuit with more areas to gain customers
Showcasing value for money on the landing page
I have created a couple of visualizations to provide sample data of 9
states that selected randomly.
18. NUMBER OF PEOPLE - EMPLOYED, UNEMPLOYED TRENDS PER STATE - 5 YEARS DATA
By looking at the
employment trends
and comparing it
versus the
population of the
state, Intuit may
want to promote
‘Quickbooks
Finance’
Intuit shall also look
into developing
their own state-of-
the-art micro
funding platform
19. TREND - COMMUTE MEDIUMS PER STATE - 5 YEARS DATA
Advertising and
marketing strategies
should be like a
arrow. Hit the bull’s
eye.
Therefore it
becomes imperative
to market the
products at right
places and right
time. As popular
commute mediums
vary from state to
state. Visualizations
like these will
provide better
insights to decide on
marketing mediums
E.g. In New York as
public transport is
widely used, posters
in the subway shall
help Intuit reach
more audience.
20. LITTLE BIT ABOUT ME
M.S. Software Engineering. Likes to study
business models and generate ideas. No
education in Business Administration but
passion lies in business.
Likes help homeless people and is currently
supporting two children for their education and
livelihood.
Likes to pose with statues wherever possible.