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. 

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.