tax season online software trends, a surveymonkey audience case study (april 2012)
DESCRIPTION
Using SurveyMonkey Audience, we surveyed over 500 tax filers to understand which online software services they used to file their taxes and whether or not they used the same online software services in prior years.TRANSCRIPT
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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