TurboTax is tapping into its new NCAA partnership to reach college students with a series of activations and marketing around March Madness.
The effort includes March Madness advertising, as well as on-campus events, partnerships with students and a partnership with INFLCR, an athlete brand-building and NIL business management app.
“Through strategic NIL partnerships, on-campus ambassadors and events, digital activations, and more, we are educating students on the importance of understanding their taxes and empowering them to take control of their finances,” said Cathleen Ryan, SVP of Marketing for Intuit TurboTax. “We’re going bigger than we have before by activating in new spaces where Gen Z and college students natively live both physically and digitally.”
“Our partnerships and campaigns are an extension of our sports marketing strategy building on the Super Bowl with specific focus on March Madness, which occurs at a pivotal cultural moment that aligns with our critical tax season window,” she continued. “With NIL we have a new breed of athlete that is experiencing many firsts. First time making money, first time self-employed, and filing a tax return. It is important that we stay engaged with college-athletes, students, and Gen Z and fill the void when it comes to tax and financial education specific to their needs. Our goal is to be there to educate, empower, and help them take control of their finances.”
TurboTax joins a number of tax preparation services companies that see an opportunity in reaching the next generation of employees while they are young. Competitor H&R Block is also targeting Gen Z consumers going after these emerging earners by helping them do taxes on side hustles, a new complicated tax situation that their parents may not have experience with. Per a recent H&R Block report, 52% of Gen Z has a side hustle and yet 70% did not keep tax records.
TurboTax’s outreach includes sending tapping into on-campus college sports ambassadors nationwide at universities including: University of Florida, University of California, Los Angeles (UCLA), University of Arizona, The Ohio State University, Texas A&M University. Through the program, student influencers will share their stories about how they are managing the taxes for their new income streams.
“Though it may seem like a small market, it’s estimated there have been more than 450,000 students who have earned income from NIL activities. These athletes are very influential in their communities both on campus and off campus,” Ryan. “Through our partnerships, we’re able to reach large student bodies and fan bases through social media to educate student-athletes on the tax implications of NIL income and tax saving strategies. This marketing channel is working for us. We’re seeing significant results through our student-athlete influencer partnerships, the INFLCR partnership, and NCAA March Madness advertising.”
Additionally, through digital channels influencers will share their personal tax stories on their social channels. For example, The Cavinder Twins or University of Miami women’s basketball, Margzetta Fraizer from UCLA women’s gymnastics team and Justice Sueing, a player for The Ohio State University men’s basketball team will take to TikTok to explain how TurboTax is helping them manage taxes on their income.
“As a brand, we have worked with influencers for many years to reach specific audiences: investors, self-employed, people with big life changes that have an impact on their taxes,” said Ryan. “Though influencers are not a new marketing channel for us, student-athletes are. So far, we’ve been very impressed. All of our student-athlete partners have been tremendously professional, creative, and bring a new perspective to our influencer programs.”
“Our goal is to increase financial literacy and tax education for all students, student-athletes and the Gen Z population,” she continued. “Whether it be their first time making money, being self-employed, or filing a tax return it is crucial that we stay engaged with college-athletes, students, and Gen Z and fill the void when it comes to tax and financial education specific to their needs.”
