The recent announcement of Intuit’s sweeping acquisition of Mailchimp, an all-in-one marketing platform, is clear indication that the tech stacks of the future will include powerful marketing platforms. In this $12 billion (yes, with a “B”) deal, Mailchimp will now join the ranks predominantly held by financial products such as TurboTax, Credit Karma, and QuickBooks. At first glance, these two types of software may seem like an odd mix but for small and mid-market companies, this couldn’t be better news.
Intuit's intent behind the acquisition
Intuit, a market leader in G2’s Accounting Software category with high Satisfaction and Market Presence scores, is looking to break free from the industry-wide assumption that accounting platforms can only perform accounting and finance-related tasks. Intuit helps users track income and expenses, run and analyze reports, track sales and sales tax, and manage cash flows, among others. With the acquisition of Mailchimp, they’ll now be able to market their business and manage customer relationships with more confidence and organization.
Intuit’s CEO Sasan Goodarzi has been quoted saying:
“We’re focused on powering prosperity around the world for consumers and small businesses. Together, Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers.”
This further proves that industry leaders are recognizing the importance of marketing technology more than ever. On G2, Mailchimp boasts over 11,000 reviews and 8,215 of them come from the small business segment.
Marketing in the changing business climate
In the last two years, the COVID-19 pandemic has completely altered the business landscape. Many businesses, especially small and mid-market companies, are looking for ways to sustainably grow even when budgets are turned upside down. Taking lower budgets and bandwidth into account, most brands are being forced to take a hard look at their retention and acquisition strategies.
Long gone are the days of spending frivolously on out-of-home campaigns or TV ads that have no trackable metrics tied to them. Measuring success is now tied to marketing analytics and understanding the value of current and potential customers. And this is where adding marketing products to any tech stack could be incredibly beneficial for businesses.
As the business landscape continues to change, here are some important takeaways to consider for small and mid-market businesses:
Businesses should begin by focusing on content marketing and social media strategies. The way a business curates content and engages consumers is integral to brand message.
Next, it is recommended to take a good look at web presence. A website should be not only aesthetically pleasing but also easy to navigate and accessible. This contributes to better traffic and conversion which drives potential leads and sales.
From those leads, companies must be proactive in integrating an email marketing strategy to nurture potential customers and continue the brand journey through thoughtful campaigns.
It may take a few tries to find the right fit and cadence but once established, adding a digital advertising element can continually target the right audience.
By using these tools and programs in the right way any business can benefit from adding marketing software to their toolbox.
Marketing software is gaining prominence
Intuit is leading by example in understanding that leaders in the software space recognize the power that fully equipped tech stacks have in every segment of business. Marketing software should be an integral part of any tech stack, no matter the industry, and hopefully, we’ll see more partnerships like this in the near future.
Victoria is a Research Principal at G2 concentrating on marketing and digital advertising software. Prior to G2, Victoria began her career on Capitol Hill. She transitioned out of politics with an extensive background in project management and operations. She later found her niche in creating stylized brand and marketing campaigns while working for startups and powerhouse apps based in Chicago and London. This varied experience has made her an exceptional practitioner in the marketing and advertising content realm, leading her to expand into the B2B sphere.
Intuit is Acquiring Mailchimp, This Changes EverythingIntuit’s acquisition of Mailchimp means marketing software is gaining prominence.https://research.g2.com/insights/intuit-is-acquiring-mailchimp-in-12-billion-dollars-dealhttps://learn.g2.com/hubfs/marketing.jpg2021-09-27 12:52:08Z
Victoria BlackwellVictoria is a Research Principal at G2 concentrating on marketing and digital advertising software. Prior to G2, Victoria began her career on Capitol Hill. She transitioned out of politics with an extensive background in project management and operations. She later found her niche in creating stylized brand and marketing campaigns while working for startups and powerhouse apps based in Chicago and London. This varied experience has made her an exceptional practitioner in the marketing and advertising content realm, leading her to expand into the B2B sphere.https://research.g2.com/insights/author/victoria-blackwellhttps://learn.g2.com/hubfs/victoria-blackwell.pnghttps://www.linkedin.com/in/victoria-e-blackwell-12603575/