Management has said that as it grows Turbo's customer base, it will be able to turn the service into a profit center through targeted affiliate marketing and customized financial offers based on the unique combination of financial data. Turbo is "the first and only financial service that brings together the three numbers that matter most: verified IRS-filed income, credit score, and debt-to-income ratio, into a first-of-its-kind financial health profile," Intuit said about the new service when announcing it in January. But what I will say is we are confident enough, we're going to put our foot on the gas with TurboTax Live." The priority for Turbo is customer acquisitionĪnother financial service Intuit recently launched is Turbo - an entirely new app to help consumers get a better idea of where they stand financially. It opens up the $20 billion assisted tax prep category, and it provides us with an opportunity to grow our dollar share while increasing our average revenue per return."Īsked whether TurboTax Live was successful enough for Intuit to accelerate its marketing for the service, Smith responded: "I want to be cautious not to give too much of next year's game plan away. Intuit CEO Brad Smith weighed in on TurboTax Live's performance during the third-quarter conference call: "Feedback from the nearly 2,000 pros and the many customers they served reinforced our confidence that TurboTax Live has the potential to be transformative to our consumer business in the years to come. The market for professional help with tax returns is big, giving investors reason to be optimistic about TurboTax Live's potential. The service aims to help Intuit better appeal to the approximately 90 million people who get expert advice each year when filing their returns with the IRS. Last November, Intuit launched TurboTax Live, a virtualized, personalized professional service to help users file their taxes.
TURBOTAX LIVE SOFTWARE
Will Intuit's TurboTax Live help the tax preparation software appeal to a bigger audience? Image source: Getty Images.
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