Intuit Mailchimp Previews AI-Powered Revenue Intelligence System, Launches SMS Marketing Tools in the UK
Intuit's Mailchimp announces a new AI-powered revenue intelligence (RI) system designed to enhance marketing effectiveness by leveraging financial data from QuickBooks and other sources. This tool will offer predictive and generative AI to help businesses identify untapped revenue opportunities, create personalized content, and optimize customer targeting. Additionally, Mailchimp expands its SMS marketing tools to the UK, following their US launch in June. The new features aim to integrate seamlessly into marketers' workflows, providing actionable insights without additional learning curves. The announcement was made during Mailchimp’s 'From: Here, To: There' event in London.
- Intuit's new RI system leverages AI to enhance marketing effectiveness, tapping into QuickBooks financial data for better targeting and content personalization.
- Mailchimp's RI system aims to create actionable insights without additional learning curves, integrating seamlessly into marketers' workflows.
- Expansion of SMS marketing tools to the UK, offering businesses a 360-degree subscriber view for better engagement and ROI tracking.
- US customers saw up to 16x ROI in the first 3 months after launching their first SMS campaign.
- Mailchimp's SMS marketing tool boasts a 93% deliverability rate, enhancing consumer engagement and brand loyalty.
- The PR lacks specific financial projections or timelines for the new RI system's implementation.
- Potential customer data privacy concerns due to the extensive use of AI and predictive models.
- SMS functionality is currently only available as an add-on, which may incur additional costs for users.
Insights
Mailchimp's integration of AI-powered Revenue Intelligence (RI) showcases a significant technological advancement. The system leverages predictive and generative AI models to provide businesses with actionable insights, optimizing marketing efforts and driving revenue.
One critical advantage is the seamless integration of AI into the existing workflow. This reduces the learning curve for marketers, allowing them to utilize advanced AI capabilities without needing additional training. The RI system's ability to analyze and benchmark performance data across billions of data points from QuickBooks is notable. This level of data-driven decision-making enables businesses to identify untapped opportunities more efficiently.
The predictive models offer valuable insights into customer segmentation and timing for engagement, enhancing the precision of marketing strategies. By anticipating customer behavior, businesses can tailor their campaigns, potentially increasing conversion rates and customer retention.
However, it's important to recognize that the effectiveness of this technology depends on the quality and depth of the data being fed into the AI models. Businesses must ensure their data is comprehensive and accurate to fully leverage these tools.
From a financial perspective, Intuit's introduction of AI-driven Revenue Intelligence in Mailchimp represents a strategic move to enhance monetization. Integrating financial metrics from QuickBooks allows users to receive highly personalized and financially relevant marketing insights, which can directly impact ROI.
For retail investors, this development signals a potential increase in
In the short term, we might observe a positive uptick in Mailchimp's user base as businesses seek to utilize these advanced capabilities. Long-term benefits include the potential for increased customer loyalty and reduced churn, driven by more effective and targeted marketing campaigns.
Investors should also watch for Mailchimp's ability to scale these features globally, as successful deployment in new markets could further bolster revenue growth.
The introduction of AI-powered Revenue Intelligence and expanded SMS marketing tools positions Mailchimp competitively in the digital marketing landscape. Combining email and SMS marketing into a cohesive strategy allows businesses to reach their audience more effectively, leveraging high deliverability rates and integration with existing marketing workflows.
The expanded SMS functionality in the UK shows Mailchimp's commitment to broadening its market reach. By capitalizing on the high ROI seen in the US, Mailchimp can offer its UK customers a robust tool to drive engagement and loyalty.
Moreover, the focus on AI-driven insights addresses a critical pain point for marketers: understanding customer behavior and preferences. The ability to predict customer actions and personalize content can significantly enhance customer experience and brand loyalty.
However, the competitive landscape in AI-driven marketing solutions is rapidly evolving. Mailchimp must continue to innovate and differentiate its offerings to maintain and grow its market share.
Coming soon, Mailchimp’s revenue intelligence will offer powerful AI and automation tools to help businesses find and win untapped revenue
Building on the launch of Intuit Assist last year, Mailchimp’s revenue intelligence will soon deploy Intuit’s powerful and relevant data through cutting-edge AI technology to benchmark customers’ marketing against billions of industry-specific financial inputs from Intuit QuickBooks and marketing performance data points, recommend the right time to target customers, and generate more personalized and revenue-driving content. This technology was unveiled today at Mailchimp’s annual From: Here, To: There London customer event. Additionally, Mailchimp is announcing the continued expansion of SMS features in the
“Predicting what will spur different customers to explore, to spend, and stay loyal remains one of the most complicated challenges for marketers—and simultaneously one of their biggest growth opportunities,” said Rania Succar, SVP and General Manager of Mailchimp. “By building on our AI-driven innovations within Intuit’s data-rich platform, our customers can make smarter, more integrated business decisions that simultaneously grow their customer base and put more money in their pockets.”
For years, Intuit has been at the forefront of AI, including releasing Intuit Assist for Mailchimp in 2023—designed to help marketers and business owners save time, send more effective marketing campaigns, and make smarter marketing decisions. Mailchimp’s new RI system will integrate seamlessly with marketers’ daily workflow, turning over 60 petabytes of user interactions across the Intuit ecosystem into tools that can create personalized action plans that increase marketing effectiveness without creating additional learning curves for marketers.
Introducing Revenue Intelligence
With revenue intelligence capabilities in Mailchimp, marketers will be able to maximize their ROI by:
- Leveraging Financial Data from QuickBooks: Mailchimp customers will soon be able to tap into AI that’s trained on financial metrics from QuickBooks and third-party commerce integrations, in addition to performance data from Mailchimp, to proactively point out where they’re missing opportunities—whether that's benchmarking their marketing against businesses within similar industries, getting ahead with planning for key seasonal campaigns, or recommending the optimal discounts to drive conversion and profitability.
- Experiencing AI Natively in the Platform: Using AI should be frictionless and integrated into marketers’ day-to-day workflow. By seamlessly weaving RI into the app experience, Mailchimp customers will be able to direct their focus elsewhere, while revenue intelligence analyzes data and provides ways for businesses to create more automated, personalized marketing without having to leave the platform or learn a new technology.
- Predicting Revenue Based on Segmentation: RI will recommend segments of onboarded and existing customers for marketers to target by predicting their conversion rates and potential revenue opportunity, anticipating when they’re ready to buy, and then generating branded email and SMS content to target those customers.
- Targeting Repeat Purchases: RI will help marketers engage new customers for repeat purchases using predictive models to show marketers when to send an email or text message and generate multichannel automations to dynamically predict the ideal time to remarket to customers based on the typical buying window for their industry.
- Generating Branded Content That Performs: Mailchimp customers will experience an improved brand kit that includes voice, tone, imagery, and logo, so that the communication is on-brand. When generating content, Mailchimp customers will be able to stay true to the business’s brand style, products & services, and their customers’ buying habits to make their content more personalized.
- Visualizing Revenue with Marketing Funnel: RI’s marketing funnel will give marketers a bird's-eye view of their segmented customer base, with categories like potential customers, new customers, repeat customers, and VIPs organized by revenue estimates and predicted lifetime value. This helps time-strapped marketers prioritize the most valuable growth opportunities.
"We've been quite good at customer acquisition, and we want to focus more on customer loyalty and retention. Email is a big part of helping us to achieve that," explains Charlotte Howell, digital marketing and ecommerce manager at Grafton International, during an early preview of Mailchimp's revenue intelligence system last month. “Utilizing AI to help with analytics and finding out more about customers—really getting a clear idea of who they are and what their shopping habits are—is key for us.” Howell will be among the first users putting this tech to work as a part of an exclusive test group.
"It’s kind of what we’ve been waiting for," she explained, citing the potential increase in revenue and time saved as benefits to look forward to. "Rather than having to dig through pools of data, the tool will push me to make decisions easier and quicker and more effectively.”
Expanding SMS Functionality
Following last year’s release of SMS for US-based customers, Mailchimp also announced plans to expand SMS functionality to the UK—equipping
“SMS marketing has grown to become a critical component to engaging consumers,” said Michelle Taite, Chief Marketing Officer at Mailchimp. “Our US customers are seeing up to 16x ROI in the first 3 months after launching their first SMS campaign**, and with over
SMS and email are among businesses' most effective omnichannel marketing strategies when used together. The combination provides a direct and immediate way for businesses to reach their audience with time-sensitive promotions or reminders, as most consumers carry their mobile phones with them at all times.
Availability
Marketers worldwide can sign up for the revenue intelligence early access updates to apply AI to optimize their targeting and content strategy in practical, meaningful ways soon.
Expanded SMS functionalities are now available to
Learn More
This announcement was debuted at Mailchimp's conference, From: Here To: There London today. The event features world-class panels, talks, Q&A sessions with industry-leading marketing, AI, and e-commerce experts, and one-on-one sessions with Mailchimp specialists. Featured speakers include Steven Bartlett, host of "The Diary of a CEO," brand consultant Mark Ritson, and Ameca, an advanced AI humanoid showcasing cutting-edge human-robotics technology.
Next month, Mailchimp will host its first flagship conference in
To find out more about Mailchimp’s AI products, click here.
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*SMS is available as an add-on to US or
**Based on
***Mailchimp SMS average deliverability rate: Limited user base due to launch of SMS Marketing in March 2023 and is based on US SMS messages sent by US users from 3/31/23 to 9/28/23. Deliverability measured by percentage of SMS messages successfully delivered to intended recipients.
About Intuit Mailchimp
Intuit Mailchimp is an email and marketing automations platform for growing businesses. We empower millions of customers around the world to start and grow their businesses with world-class marketing technology, award-winning customer support, and inspiring content. Mailchimp puts data-backed recommendations at the heart of your marketing, so you can find and engage customers across email, social media, landing pages, and advertising—automatically and with the power of AI. In 2021, Mailchimp was acquired by Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
Intuit Mailchimp Forward-Looking Statement Disclaimer
This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240613814662/en/
Source: Intuit Inc.
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