Adrien Brody’s multimillion‑dollar TurboTax Super Bowl ad: Intuit’s CMO explains why the software giant spends more on marketing than R&D |
Adrien Brody’s multimillion‑dollar TurboTax Super Bowl ad: Intuit’s CMO explains why the software giant spends more on marketing than R&D
Super Bowl LX was just the latest evidence that when it comes to marketing, Intuit punches way above its weight. The financial software company’s charming commercial stars a comically overwrought Adrien Brody being calmed by a TurboTax “expert” who assures him that there’s no need for drama or crying when you use its products and services for tax filing.
The company—also known for QuickBooks and other financial technology products and No. 258 on the Fortune 500—clearly spared no expense on its annual Super Bowl commercial. Intuit won’t say how much that 45-second ad cost, but the going rate just for the airtime was $8 million to $10 million for 30 seconds, and Brody, a two-time Oscar winner, presumably doesn’t work for the actors’ union scale.
It’s a signal of how important marketing is at Intuit. More broadly, “selling and marketing” is generally the largest expenditure in Intuit’s financial statements—larger even than research and development. The formula seems to work well: Intuit was founded in 1983 yet still increases revenue by double digits almost every year.
As for........