On May 13th, 2019, Mailchimp made a game-changing announcement. While they were already heading off into a broader path since the last few years, this announcement made it official that they are no longer an Email Marketing Software.
They are officially expanding into an All-In-One Marketing Platform.
This means that they’ll be aiming to serve small businesses on all fronts of marketing regardless of what you do. From setting up retargeting ads to social media management to an all new Marketing CRM and Audience Dashboard, you’ll be able to do all sorts of things that you earlier had to use other software for (or do manually).
Additionally, they’ve replaced the traditional ‘email lists’ with ‘audiences’. Which means regardless of whether a contact has subscribed to your email list or not, he will remain a part of that audience.
This means that you can leverage your entire audience and market to them via different channels available. Which definitely does sound pretty empowering considering how expensive it is to get new customers today.
Here’s the problem with that though, unless your business is doing more than a million a year in revenue, chances are you don’t use all the marketing channels available out there.
In fact, in most cases, it's best to focus on a single channel and become the best at it, instead of diverging into multiple channels right from the beginning.
Most of the channels out there (Google Ads, Facebook and Instagram ads, Email, SEO, Influencers) are fiercely competitive. And making even a single channel profitable is a huge challenge for most businesses in reality.
So much so that doing marketing across multiple channels is only adding to the noise in today’s climate and is doing more harm than good for businesses’ growth.
Which makes Mailchimp’s expansion into an “all-in-one marketing platform” a really tricky affair for a lot of small businesses. The barrier to switching marketing channels is so low, that the moment one struggles with the current channel, he would be tempted to try out other channels and hence dilute the efforts.
And this would be extremely harmful in the long run even if all the channels were available in the same pricing tier. But the different marketing channels and advanced automation tools are separated in different pricing tiers in Mailchimp.
So even if you are a part of the minority and a rare breed, and can perform marketing across all channels like a ninja, you would have to pay extra just so you can take full advantage of your skills.
This can once again prove to be more harmful than useful as your audience grows.
Because as your audience and your features use grows, your pricing increases. And chances are that you won’t be marketing to all of your audience via all the marketing channels out there at all points in time. So essentially, you’re paying a higher amount but not fully making use of what you’re paying for.
Building audiences is one thing. Reaching out to them in the most effective way is another. And it’s only the latter one that will make you money.
So what is the best way to go about this?
Well, the best way to go would naturally depend on where you’re at with your business and what your goals are with it.
The most important thing to know is that all the primary channels have enough traffic available for you to build a profitable business out of.
So you should aim to max out one channel before even thinking of moving to a second one. Yes, you can run one off experiments through a different channel but know that your long term growth will be driven by one channel only.
Which channel should you focus on?
Now granted we’ve come a long way in the way we communicate with our audience. But here’s the fact, Email Marketing still works. And it works consistently well, which is not something which should be taken lightly in a competitive environment.
In fact, people still prefer to be contacted over email for marketing communication compared to any other channel. And the number of emails being sent has been increasing over the years, and it’s not gonna slow down anytime soon. So email wins in terms of both buyer intent and the buyer quantity.
According to Oberlo, Email can get you an ROI of $32 for every $1 spent on Email Marketing. Which isn’t something that can be promised by any other channel with as much consistency and long term returns.
So if you’re gunning for results and not what’s hot, Email Marketing should be the primary channel that you should be looking to becoming the absolute best in and put all your focus in if you’re looking for long term growth.
So what type of marketing software should you invest in?
If you’ve made it this far, you know where I’m going with this.
It’s best to focus on a single channel for growth. And hence, it’s smart to invest in a software that allows you to do that single thing better than anyone else.
This is what will ensure you actually get results. And also do so in the most cost efficient way possible.
Which means if you’re doing Email Marketing, you should focus on Email Marketing and maximizing your results with it until you’ve become the best at it. And that means you should choose an Email Marketing Software which focuses on Email Marketing only.
That is the tool which will enable the most meaningful growth in your business and allow you to scale in the long run in a profitable way.
And as an added bonus, it will also help you in building strong foundations for your business. As you would essentially be getting results in a focused and effective way without any wasted marketing costs.
And that’s precisely what motivated us to build SendX. If you’re looking for an alternative to Mailchimp that focuses on Email Marketing only. While also being extremely easy to use and affordable so that you can get focused results. Take SendX for a spin by signing up for a free trial!
To help you with choosing the correct alternative to Mailchimp according to your business needs, we’ve taken a look at the top Email Marketing Software out there and given our feedback on it. Hope it helps you make your research easier!
So these are my $0.02 on the recent announcement by Mailchimp. While Mailchimp is an absolutely amazing product and their success speaks volumes of their service, their recent shift might not be the most ideal way to go for you if you’re running or working in a small business.
What do you think about this announcement? Do let me know your thoughts in the comments below and whether you agree/disagree with me!