Social Media and Marketing at TurboTax
TurboTax has strong name recognition from Intuit’s software Quicken. How did this affect the company’s Twitter strategy? TurboTax, tax software maker, had customers very passionate about their software and it was greatly useful for them for only a short period of time which was during tax season (Barker, 2013). The company started a customer retention program when brought in some needed expertise to the space Barker, 2013). The company figured they could reach out to customers through Twitter while remaining cost-effective. The company’s approach to Twitter grew in importance and in size (Barker, 2013).
Name the pros and cons of asking for tax advice on Twitter. What specific social media marketing tactics does the company use to better manage the rush around tax day? TurboTax seasonal has business is both a strength and a weakness (Barker, 2013). It’s a good thing that the company is able to engage the users who are interested in and commenting on their taxes but TurboTax lacked devoted resources (Barker, 2013). They had a live community team and scaled the idea of helping customers while utilizing those customers and the conversations that they’re having online for their rush around tax season.
How does the seasonal nature of TurboTax’s work make social media marketing easier? More difficult? What specific steps do you think the company takes to make the rush around tax day easier to manage? TurboTax allows its customers/taxpayers the ability to ask questions and receive trusted information through social media such as live chats and social networks. Innovative uses of social media create the possibility to extend conversations already happening around consumers shared experiences with their taxes.
According to Julie, Director of public relations and social media for Intuit (Leggio, 2010), social media is a very important part of TurboTax marketing mix because it is a challenge every year during tax rush season. Engagement across social channels helps to acquire and retain customers. Getting the right people at TurboTax to engage with customers is very important. Pairing qualified tax and technical experts with customers on Twitter to provide them accurate answers in a timely manner are also beneficial to the company (Leggio, 2010).
The article names word-of-mouth recommendations as one advantage of TurboTax’s Twitter strategy. What other advantages exist that weren’t mentioned? I believe some of the advantages are business performance where social media also contribute to its growth and also following its customers, by going where they are; and transparency, taking the good with the bad.
Melissa Barker, Donald Barker, Nicholas Bormann, Krista Neher (2013) Social Media Marketing: A Strategic Approach First Edition Jennifer Leggio (2010) TurboTax Answers Tax Questions Socially