Facebook Audience Comparison: H&R Block vs. TurboTax
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Facebook Audience Comparison: H&R Block vs. TurboTax

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It's tax season again. Whether for the thrill of a refund or the agony of an IOU to Uncle Sam, millions of consumers will rely on tax preparation software to file their 2013 taxes. The top two......

It's tax season again. Whether for the thrill of a refund or the agony of an IOU to Uncle Sam, millions of consumers will rely on tax preparation software to file their 2013 taxes. The top two brands they'll turn to? H&R Block and TurboTax.

We expect Facebook to play a starring role in this year's battle for tax preparation supremacy. But that begs the question – who should financial marketers be targeting this tax season? To find out, we used our own sophisticated analytics to compare Facebook audiences at both H&R Block and TurboTax.

Here are the results.

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  • 1. Facebook Audience Comparison vs.
  • 2. It’s tax season again, and one thing is certain. Whether for the thrill of a refund or the agony of a bill, millions of US consumers will turn to outside help to prepare and file their 2013 taxes. For financial companies, that means big advertising budgets in hopes of even bigger returns (no pun intended). 01
  • 3. In this year’s battle for tax preparation supremacy, Facebook ads will play a starring role. The most successful brands will go beyond standard demographic targeting – these days, it’s possible to microtarget Facebook audiences based on user behavior, lifestyle, and other actionable criteria to serve ads that are relevant, timely, and effective. But that begs the question – who should financial marketers be targeting this tax season? We used our own sophisticated analytics to compare Facebook audiences at the top two tax preparation brands: H&R Block and TurboTax, made by Intuit. Here’s what we found. 02
  • 4. TurboTax TurboTax, made by Intuit, sells popular software that helps consumers prepare and file their income tax returns online. At a glance, their Facebook audience contains predominately females in their 30s and 40s, with lower- to middle-class household incomes. US REACH AVG. AGE MALE FEMALE 399,580 38.6 (36.2 Male, 39.7 Female) 31.2% 68.8% AGE/GENDER INDEX (AVG FB USER = 100) CITIES INDEX (AVG FB USER = 100) Females 35-44 Females 25-34 Females 45-54 Females 55-64 Females 18-24 Louisville, KY 186 Detroit 183 Cleveland 162 Baltimore 155 Jacksonville 150 211 166 136 130 98 INTERESTS/CATEGORIES INDEX (AVG FB USER = 100) INCOME INDEX (AVG FB USER = 100) Personal Finance 944 DIY/Crafts 706 Bollywood 577 Stay-at-home moms 335 Collectibles 185 25k-50k 339 50k-75k 193 <25k 40 75k-100k 24 100k-125k 3 >125k 1 03
  • 5. H&R Block In addition to in-person tax preparation services, H&R Block offers e-filing services that compete directly with TurboTax. Their Facebook audience is, on average, slightly younger than TurboTax’s and skews even more strongly female. Again, lower- to middle-class households are well-represented. US REACH AVG. AGE MALE FEMALE 345,060 37.1 (35.6 Male, 37.6 Female) 26% 74% AGE/GENDER INDEX (AVG FB USER = 100) CITIES INDEX (AVG FB USER = 100) Females 35-44 Females 25-34 Females 45-54 Females 55-64 Females 18-24 Kansas City 425 Indianapolis 218 Cleveland 207 Memphis 198 San Antonio 191 193 180 163 113 77 INTERESTS/CATEGORIES INDEX (AVG FB USER = 100) INCOME INDEX (AVG FB USER = 100) Personal Finance 1,201 Real Estate 696 Pets (Cats) 529 Homemaker 330 Expectant parents 315 25k-50k 377 50k-75k 169 <25k 36 75k-100k 17 100k-125k 2 >125k 0 04
  • 6. Key Audience Observations No males index above 100 in either group. H&R Block’s female audience skews younger than TurboTax’s. TurboTax is geographically strongest in the Rust Belt, while H&R Block is stronger in the South and Midwest. Both groups cater strongly to middle-income consumers with household incomes between $25k and $75K per year. $ Both groups are interested in personal finance, which is predictable. However, we uncovered some additional overlapping interests that were quite unexpected – it would be worth testing ads targeted to fans in overlapping interest categories. 05
  • 7. Recommendations Focus advertising budgets on the strongest age, gender, geographic, and income segments, while reserving some spend for messaging tests to other audiences. Determine whether purchase data matches with Facebook audience data. If it does, good job! If it doesn’t, try to find out why. Test Facebook ads targeted to fans in overlapping interest categories, such as Real Estate and Personal Finance. 06
  • 8. Brand Networks offers powerful Facebook advertising solutions to help you show the right ad to the right audience at the right time. Contact sales to learn more: info@brandnetworksinc.com 07