Intuit's 'Fatal Attraction' Approach to Solving Customer Problems

Intuit, the company behind the popular accounting software QuickBooks, has adopted a unique strategy to address customer problems – a "Fatal Attraction" approach.

• Instead of simply falling in love with their own solutions, Intuit focuses on deeply understanding the issues customers face.
• This means going beyond traditional market research and actually observing how self-employed individuals work and manage their finances.

The 'Fatal Attraction' Strategy in Action

The "Fatal Attraction" approach involves immersing Intuit teams in the lives of their target customers. For example, Intuit employees became Uber drivers and TaskRabbit workers to experience firsthand the challenges faced by self-employed individuals.

• Through this deep immersion, Intuit discovered the key pain points for self-employed entrepreneurs, such as managing finances, keeping personal and business funds separate, and tracking business expenses.

Customer-Driven Innovation: Solving Real Problems

This customer-driven approach led to the development of specialized QuickBooks products for the self-employed.

• One key innovation was the creation of a QuickBooks product specifically designed for self-employed individuals. This product addressed the common issue of mixing personal and business finances, helping self-employed entrepreneurs better manage their financial records.

Intuit's 'Dog Food' Approach

Another key aspect of Intuit's strategy is to "eat their own dog food." This means Intuit team members actively use their own products, becoming users themselves to understand the strengths and weaknesses.

• This first-hand experience ensures that Intuit products are not only innovative but also user-friendly and effective in meeting real-world needs.

Prioritizing the Biggest Problem

Intuit emphasizes addressing the most significant customer problems first, even if other issues might seem more appealing to fix.

• This approach ensures that the most impactful solutions are developed and deployed, benefiting the greatest number of users.

Leveraging Existing Products for New Opportunities

Instead of constantly creating new products from scratch, Intuit looks for ways to leverage its existing products to address emerging customer needs.

• This strategy allows Intuit to quickly and efficiently develop solutions that tap into existing user data and functionality.

The Importance of Customer Care

Intuit emphasizes the importance of actively engaging with customers, both on the help line and through other channels.

• This direct interaction allows Intuit to get real-time feedback and insights into customer needs, enabling them to rapidly improve their products and services.

The Value of 'Stalking' Your Customers

Intuit's "Fatal Attraction" approach may seem unorthodox, but it highlights the importance of truly understanding your customers.

• By going beyond traditional market research and immersing themselves in the lives of their customers, Intuit has been able to develop highly effective solutions that address real-world challenges.
• This approach is a testament to the power of customer-driven innovation and the value of truly understanding your customers' needs and pain points.