Intuit, the global technology platform that makes Credit Karma, TurboTax, QuickBooks and Mint, announced in a press release yesterday that it has agreed to acquire Mailchimp for approximately $12 billion in cash and stocks by the end of Intuit’s second quarter fiscal 2022. As most marketers are familiar, Mailchimp is a global customer engagement and marketing platform for small and mid-market businesses, who made its name specializing in email marketing.
While the pandemic continues to negatively impact small businesses, now in the manner of fall networking event cancellations and a continuation of remote working, small and mid-market business are increasingly turning to digital strategies to help grow their business and visibility online. Mailchimp has 13 million total users globally, according to the release, therefore Intuit’s acquisition of the marketing platform is bound to shake up the industry. Here’s what marketers need to know.
Why Did Intuit Acquire Mailchimp?
According to the announcement, Intuit will combine their customer data from Mailchimp and their purchase data from QuickBooks in order to build an end-to-end customer growth platform. This platform will deliver a single source for getting small and mid-market businesses online, marketing their business, managing customer relationships, access to insights and analytics, receive payment, access capital, pay employees and optimize cash flow.
The goal of this integration is to help solve the biggest issue in growth for small and mid-market businesses, which, Sasan Goodarzi, CEO of Intuit, says is “getting and retaining customers.”
Do I Need To Learn How To Use Mailchimp All Over Again?
“…Our platform will stay Mailchimp through and through: the same user-friendly products and tools, the same resources and support, and the same brand you know and love,” said Ben Chestnut, Co-founder and CEO of Mailchimp, in an email blast yesterday.
This is great news for marketers, as relearning the ins and outs of a platform so critical to the success of your business could potentially cause errors and lower efficiency. If Intuit wants to have a smooth transition, they need to ensure it is as least stressful for Mailchimp customers as possible.
Will I Still Have Access To Mailchimp Customer Support?
While the acquisition takes place and after its finalization, Mailchimp users will continue to have access to a 24/7 support team. This is a key component of this announcement, as problems may arise during the transition of the platform, Mailchimp is available to marketers to troubleshoot any new features and help ease the transition.
For small and mid-market businesses, digital marketing strategies are as critical as ever. If Intuit’s acquisition of Mailchimp and integration of QuickBooks is successful and as planned, this platform may become an even more powerful tool for marketers to help reach their target audience, maximize efficiency and clarity of business operations and exponentially grow their businesses.
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