Ramirez May 13 2013 BUS 550 Beginnings of Intuit Since 1983 Founder Scott Cook Began with software for personal finance management Quicken 1992 QuickBooks 1993 IPO Acquired ChipSoft maker of TurboTax ID: 378121
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Slide1
Marisol
RamirezMay 13, 2013BUS 550Slide2
Beginnings of Intuit
Since 1983- Founder: Scott CookBegan with software for personal finance management- Quicken
1992- QuickBooks1993 IPOAcquired ChipSoft, maker of TurboTaxAlways looking to make personal tasks easier and quicker
2Slide3
Intuit’s Business Units
Small Business Group Tax
Financial ServicesOther BusinessesRevenue is cyclical due to their type of serviceQuickBooks and TurboTax make up almost 50% of revenue
3Slide4
User Contribution System
Active (direct) and PassiveMain characteristic: They convert information from users into a system that is useful to others
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5
Soure
: Intuit Case StudySlide6
User Contribution Systems cont.
They can employ user feedback as well as having professionals regulate or refine the answers
Why should companies use
this
Can help in product development and is always being updated
Frees companies of the responsibility of providing content to the users
Risks
User feedback may not be accurate or may be biased
Should companies be
inclusionist
or
delitionist
Negative feedback
6Slide7
First Try: Tax Almanac
2005- Cook expressed idea of a user generated system which would add value to IntuitTax Almanac- solving the tax professionals problem of getting answers to obscure questions
Forum for tax professional to discuss tax lawsBy 2010 had 1.98 mill unique visitor and over 170,000 pages of discussionYet, Intuit did not find a way to monetize so they went back to the drawing board
Zipingo
also in 2005 – for use with Quicken
7Slide8
Focus on Turbo Tax
Tax preparation product for users to file their own tax return
Preparation done in an interview-like process with questions with Decision Tree process based on the answersMain Weakness of TurboTax:It did not sufficiently answer users’ questions while they were preparing their taxes
Some Solutions
FAQ
Commercial Search Engine
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C.I.A. aka Live Community
2006- Collective Intelligence Agent
Question and Answer format between users (non-professionals)
Tested idea by implementing it in one of the TurboTax branches
Feedback within Intuit
Tax professionals working for Intuit were skeptic
Prior market research showed users of Tax software would not trust non-tax experts
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10Slide11
Challenges & Decisions
Market Research
Groups of users to experimentStudies failed: users had already filed taxes and received returns therefore did not feel the need to use the Q & ADecision to keep going or notCook believed in the concept but was uneasy about application
Brad
Henske
, TurboTax General Manager saw cost effectiveness of this application
Test idea with the Online Home and Business TurboTax (small portion but still in the 100,000’s of units )
11Slide12
Launch of Live Community
January 2007 – Live Community Launched
Contributors not only users but tax professionals as well
New problem: Surplus of answers
Solution: increase in servers
Questions, Questions, and more Questions!
12Slide13
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Impact of Live Community
Intuit confirming Behavior is what is necessary to measure consumer reaction to productsAlso, the need to slowly immerse a consumer into the product
“Market Research is very good at exposing problems with a product but not good at testing solutions”14Slide15
Impact of Live Community cont.
By 2009-Live Community expanded to all TurboTax versions
The rest of the business units at Intuit were not as excited to create their own L.C.Until 2008 version of L.C. made for QuickBooksLaunch of more services based upon user contribution like:Small business hiring
QuickReceipts
Accountant Work Exchange
15Slide16
Intuit: Now
“We
seek 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
.”
Not only online feedback, now personally noting the take home experience
Smith, CEO identifies events in the Market which offer opportunity for growth
Participation driven innovation
No Borders
Mobile Experience has won!
Data
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Discussion
Intuit’s path to a successful productHow does this differ from other measures of product success?
How does this tie back to the user contribution systems?
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Review Questions
There were not enough users who bought the paid version
b. It did not sufficiently answer users’ questions while they were preparing their taxes
c.
The users had difficulty navigating through the software
What was the main weakness of TurboTax?
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Which of the following is not a risk when employing a user contributions system?
Review Questions
User feedback can be biased and not accurate
b. Negative posts might influence further contribution
c.
Users might develop a relationship with the company
19Slide20
Review Questions
What
was the impact of Live Community’s success?All versions of TurboTax implemented Live Community
Allowed Intuit to realize the flaws of Market Research
The other business units adopt
ed the idea
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a. I only
b
. I & II
c
. II only
d. I,II, & IIISlide21
References
http://www.intuit.com/
http://network.intuit.com/http://www.latimes.com/business/technology/la-fi-tn-intuit-pioneer-delight-20130509,0,7874694.story?page=1&track=rss
http://
www.taxalmanac.org/index.php/TaxAlmanac:About
https://ttlc.intuit.com
/
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