“Our initial focus is our existing customers,” Goodarzi said during this week’s webcast for earnings for the first quarter ended October 30. “We have about 180,000 QuickBooks customers that have outgrown QBO.” That seemed to be the same read Sage CEO Stephen Hare made in his company’s webcast for earnings for the year ended September 30. Asked about the impact of Advanced, Hare replied, “The completive landscape has not change that much.” He said the effort of Sage's two low-end competitors [Intuit and Xero] is aimed at limiting churn and hanging on to maturing customers. As to their s direction in the market “They aren’t really showing too much signs in directing their new customer acquisition machine to a different place.” Goodarzi said 75 percent of Advanced customers are existing Intuit and his description pegs them at less technically knowledgeable than typical mid-market prospects. “They are typically running business on Excel or Google Sheets.” Also, Goodarzi made a nod to mid-market vendors that didn’t suggest an immediate threat, “We are studying the best practices of those who have served the mid-market very well.”Last modified on Monday, 25 November 2019
ADVANCED FOCUS: EXISTING QBO CUSTOMERS Featured
Intuit is focusing its new QuickBooks Advanced on existing customers, CEO Sasan Goodarzi said this week. That puts the sort-of-midmarket product in a light that suggests the company does not have designs on low-end of the mid-market—yet.