seth greenberg turbotax ana masters of marketing 2010 presentation

people

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

Print

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

Contextually Relevant Banner Ads (for good, not evil)

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