B2B Marketing Analysis of Intuit

Submitted to :- Submitted by:-

Prof. Richard John Masilamani Harsh Joshi
23DM091
 Intuit's B2B Marketing Strategies
(A Report Based on research and personal experience)

Introduction

Intuit is a leading financial software company known for its consumer offerings like TurboTax and
QuickBooks. However, Intuit also has a significant B2B customer base, including tax and accounting
professionals that use its ProConnect products as well as small businesses that rely on experts to
recommend TurboTax and QuickBooks. Despite high brand awareness and retention rates, Intuit
faced stagnant lead generation for 5 years on the B2B side until it revamped its strategies in 2018
with a customer insight-driven approach.

This report will describe how INTUIT used these strategies effectively after thorough research,
analysis and personal experience.

Customer Empathy as a Driver

A key philosophy behind Intuit's revised B2B strategy is developing deep customer empathy - having
such a strong understanding of customers that the line between the company and customers blurs.
Rather than just analyzing data, Intuit's team conducted extensive customer observation studies by
having 1-hour video calls with 20 selected prospects/customers without leading questions.

This direct observation revealed valuable insights that data alone could not.

• For example, they found customers frequently used Q&A site Quora for initial research,
which was not something their internal data showed.
• Armed with these new customer behavior insights, Intuit adjusted its paid media targeting
and testing, resulting in 15% growth in leads.

"If you have flat leads, go talk to people. Find out what they're doing and see if you can find
some new insights,"

Says Brian Hood, Intuit's Digital Director.

Test and Learn Approach

Another pillar of Intuit's strategy is being innovative through intelligent testing following a "broad-
then-narrow" model. They start by exploring what's possible with 5-10% of their working capital
allocated to new experiments. Successful tests are then rapidly iterated and narrowed down.

• For example, when under pressure to increase funnel conversions, they tested a high-touch
direct mail campaign against their instincts due to the high costs.

• This strategy typically involves direct communication, attentive customer service, and a deep
understanding of each client's unique needs and preferences. While High-Touch Marketing
can be time-consuming, it often leads to increased customer loyalty, more repeat business,
and greater overall client satisfaction

• But the experiment paid off by hitting their goals. The mindset is to embrace potential
failures as part of the process versus being deterred by failure risks.

Intuit's 5 Big Bets

To drive momentum and accelerate innovation, Intuit has outlined a strategy around 5 major
initiatives called the "5 Big Bets":

1. Revolutionize Speed to Benefit

Using AI, fintech, and emerging technologies to deliver seamless, frictionless, and confidence-
building experiences that maximize customer benefits rapidly.

2. Connect People to Experts

Scaling virtual expert capabilities like TurboTax Live through AI assistance to elevate experts and
provide personalized guidance.

• Easily find and connect customers to the right experts

• Augment tax experts through Intuit Assist

• Expand expertise to new products and services

 $30B
total addressable market
810M
AI-driven customer interactions
17%
TurboTax Live revenue growth

3. Unlock Smart Money Decisions

Becoming a comprehensive financial platform powered by AI to enable intelligent money

management for consumers.

• Reimagined Credit Karma app experience

• Highly personalized financial recommendations

• Enable smart financial decisions powered by Intuit Assist

136M
Credit Karma members
5.1x
average visits per month for monthly active users
60,000
tax and finance attributes per member

4. Be the Center of Small Business Growth

Combining QuickBooks, MailChimp's marketing tools, AI assistant, and unified data to solve SMB
challenges like customer acquisition and cash flow (Mailchimp: 900K paying customers, QuickBooks
Payment Volume $148B).

• Advanced AI-powered marketing tools that automate the process of engaging and converting
customers

• 360° view across platforms with insights for smarter decisions

• AI-native Mailchimp CRM for small businesses, integrating with QuickBooks

 0.9M
Mailchimp paying customers
$9B
SMB sales attributed to Mailchimp
$148B
QuickBooks global total payment volume in FY23

5. Disrupt the Small Business Mid-Market

Providing integrated, customized solutions for scaling mid-market businesses to manage complexity

• Customizable solutions to help reduce work and streamline experiences

• Personalized guidance provided by Intuit Assist

• Automation that saves time and streamlines complexity

$20T
B2B payments in the US
1.7M
mid-market businesses
$52B
mid-market opportunity

QuickBooks Business Network

A key initiative tied to the small business growth and mid-market disruption bets is the expanded
QuickBooks Business Network. This is one of the largest B2B networks aimed at accelerating
payments and automating administrative tasks between businesses.

The core problem it solves is that over 50% of B2B payments to small businesses are late compared
to just 32% for B2C. This causes major cash flow challenges. The network allows QuickBooks
customers to seamlessly connect and transact with each other through capabilities like:
- Sending invoices directly into a customer's QuickBooks account

- Auto-populating payment details into bills

- Facilitating payment through multiple QuickBooks payment options

By reducing manual effort and accelerating time-to-payment, Intuit aims to improve cash flow
predictability and management for its business customers.

Leveraging AI Assistance

Underpinning many of Intuit's strategies across all 5 bets is the driver of AI-powered financial and
operational assistance through their "Intuit Assist" platform. Intuit Assist augments human experts,
personalizes recommendations, automates administrative tasks, and provides intelligent insights by
leveraging over 60,000 data points per customer.

• For example, Intuit Assist allows tax experts to be more efficient through AI-augmented tax
preparation capabilities in TurboTax Live. It powers the new AI-native CRM from Mailchimp
integrated with QuickBooks data. And it provides mid-market business management
guidance by streamlining customizable workflows.

Intuit views Intuit Assist as foundational technology to deliver its "AI-driven expert platform" vision
of highly-tailored speed and scale for business customers and individual consumers alike.