Mailchimp has built its name as a leading tool that helps corporations and other organizations to manage their customer-facing email activities. The startup has grown massively over the last few years to full profitability. Right now it has over 11 million users. Mailchimp is also on track to earn $700 million in revenue in 2019. But the company is not trying to get there without a strategy. In order to hit these numbers, it is rolling out a new update on its service that’s designed for businesses.
Mailchimp will be offering a full marketing platform to help smaller organizations. This is the first time that the company is going beyond the email services that it has been offering for the last 20 years. The new email platform is expected to have a wide range of new features in it too. For instance, there will be some tools to record and track customer leads as well as solutions to buy domains and built websites. Mailchimp will also be offering ad targeting tools for Facebook and Instagram as well as social management options.
But this is not everything. The Atlanta-based company will also be bringing in business intelligence that will fully leverage artificial intelligence to provide recommendations on users and the best way to market to them. The use of AI in helping with customer targeting could be quite interesting. This is because Mailchimp will be using data from over 4 billion people to train the AI.
Despite all these new features on the new platform, there will also be a significant change in pricing plans. The company is planning to offer 4 tier payment plans. The first one will be free but it will have very many limited features. There is also a package for $9.99 a month, another going for $14.99 a month, and one for $299 a month. The platform is part of a long term plan by Mailchimp to expand its scope. The aim is to develop services for the typically underserved users. We are talking about SMEs here and other small companies that may have not been in a position to use such tech tools in the past.
After all, even with the rise of large corporations in the US over the last few years, small businesses still account for 48% of the US GDP. There is obviously a lot of money to be made in this segment. The only thing needed is innovative solutions that can help these small firms grow. Mailchimp believes that it has that kind of product with the new platform.
The company also notes that its digital operations are a clear example of how small companies can leverage technology to enhance efficiency and reach their goals. Right now, Mailchimp has millions of customers but only a handful of employees. Its success has been made possible by its ability to take advantage of technology and other innovative apps to reach its goals. Mailchimp thinks that automating marketing through innovative digital tools could be a huge plus for SMEs.