In the midst of the retail media network boom, Intuit, the global financial technology company that makes QuickBooks, TurboTax, Credit Karma and Mailchimp is taking a fresh approach that puts its small business customers’ data to work on their behalf through SMB MediaLabs, a first-of-its-kind media network focused on small businesses.
SMB MediaLabs sets itself apart by providing advertisers with access to one of the more elusive audiences in the advertising landscape – small businesses. Advertisers could gain reach to over six million QuickBooks Online customers in the US through the network, and small business owners can benefit from receiving focused advertising from reputable, relevant brands that provide high-quality products and services tailored to their needs.
“We know from serving 10 million business owners around the world that the playing field isn’t level,” said Alex Chriss, EVP and GM of Intuit’s Small Business and Self-Employed Group. “We’re giving our small business customers an edge by using the power of our platform to ethically draw on the collective strength of their data. Through SMB MediaLabs, small businesses will gain access to focused, relevant advertising for the products and services they need.”
SMB MediaLabs’ Key Differentiators for Advertisers
As the largest provider of financial management and payroll software for small businesses, Intuit QuickBooks has unparalleled reach and insights among this audience. In 2022 alone, QuickBooks customers sent invoices totaling $2 trillion, processed $125 billion in total payments volume, and paid 17.6 million US workers.
Unlike other SMB data sources, the depth of Intuit’s data allows SMB MediaLabs to identify business insights sooner than insights currently available from commercial business databases. And unlike other online advertising built on cookie-based technology, SMB MediaLabs can make these mutually beneficial connections between relevant advertisers and small business customers without providing access to customers’ personally identifiable information or any financial data from their Intuit accounts.
Out of the gate SMB MediaLabs will focus on open exchanges, social networks (starting with Meta), audio and podcast, and CTV, and VIZIO will serve as the exclusive CTV partner. Instead of having to rely on self-service, advertisers will have dedicated account managers and media planners who work closely with their internal teams and/or agencies on strategy.
“RMNs and CTV are the individual catalysts driving future growth for the advertising industry at large, and together they pair first-party purchasing data with the most powerful screen in the house,” said Adam Bergman, Group Vice President of Advertising and Data Sales at VIZIO. “This partnership will enable us to augment our best-in-class TV data with Intuit’s high-fidelity datasets, giving VIZIO Ads customers the exclusive ability to reach new high-value audiences, while opening the door to millions of additional B2B advertisers.”
Intuit’s Commitment to Strong Data Stewardship
Committed to protecting customer data and privacy, Intuit uses customer data to help them reach their financial goals while giving them choices about how the information they share is collected and used. Advertisers participating in SMB MediaLabs receive only aggregated and de-identified data on ad impressions and engagement. They do not have access to any of Intuit customers’ personally identifiable information or any financial data from their Intuit accounts. Customers may opt out of SMB MediaLabs by following the instructions here.
“While technological changes have increased the development of in-house advertising networks, SMB MediaLabs sets itself apart because it will provide Intuit’s small business customers with more effective and relevant advertising for quality products and services they need to run, scale and drive growth,” said Dave Raggio, VP, U.S. Acquisition Marketing for Intuit’s Small Business and Self-Employed Group.
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