Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today previewed its new revenue intelligence (RI) technology, a system of always-on predictive and generative artificial intelligence (GenAI) models designed to proactively give marketers opportunities to win more 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 UK, after the initial US launch last June*.
“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 UK-based customers with a 360-degree subscriber view that pulls all data sources into one place, allowing businesses to maximize engagement, track ROI, and streamline analytics reporting.
“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 93% deliverability rates***, Mailchimp’s SMS is an incredibly reliable tool for building a meaningful relationship with your customers and a powerful way to drive engagement, conversion, and brand loyalty.”
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 UK customers.
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 Australia, From: Here To: There Sydney, on July 23, 2024. Register today for invaluable insights on branding, innovation, and customer engagement from Janine Allis, founder of Boost Juice Bars and author of The Accidental Entrepreneur.
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*SMS is available as an add-on to US or UK paid plans only. Application and agreement to terms is required before purchasing credits. Messages can only be delivered to contacts in the country selected. SMS credits are added to your account after purchase and approval. Credits are issued monthly and unused credits expire and do not roll over. MMS only available when sending to US contacts with US Standard and Premium plans. Pricing varies. See terms for details.
**Based on U.S. SMS users’ e-commerce revenue attributable to SMS campaigns within 90 days of launch during September 2023 through April 2024.
***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.
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