After decades of defining itself as an email marketing company, Mailchimp has recently reinvented itself with a new Customer Relationship Management (CRM) platform and other data-driven offerings for small and medium businesses (SMBs). The new service is certainly meeting a need. While the technology might be a new offering, Mailchimp has had access to the data that powers it for some time.
As Darcy Kurtz, the company’s VP of product marketing, told Adweek, “We feel we have the permission and credibility that we need to play in this space.” By making it easier for companies to unify data around their customers, analyze their previous interactions with marketing materials, and segment by various audiences, Mailchimp wants to provide companies with the essential tools for data-driven marketing.
The new platform also aims to solve the perennial challenge of siloed data sets. A 2018 Harvard Business Review article by professors at Duke University’s Fuqua School of Business pointed to lack of integration as a chief challenge impacting the success of marketing analytics initiatives. They wrote, “Companies should create an integrated 360-degree view of the customer that considers every customer behavior…Only then can firms completely understand their customers via analytics and develop customized experiences to delight them.”
Of course, the new Mailchimp offering is just one piece of a much larger puzzle that makes up data-driven marketing. But for SMBs who often lack the resources for robust marketing teams and technologies, it could prove to be a very valuable resource. John Foreman, Mailchimp’s SVP of product, was also interviewed by Adweek, saying, “We’re not interested in any point-solution war. We want to find a way to tie all of these different capabilities together to provide the best marketing experience for a small business.”