Setting up a drip campaign in Mailchimp can significantly reduce work time for email marketing, allowing focus on analyzing metrics and driving business growth. A drip campaign is a series of automated emails sent to people based on their actions, such as placing an order or signing up for a webinar. To set up a drip campaign, one must first select the right option from Mailchimp's pre-built customer journeys or create a custom workflow. Customizing the journey involves adding time delays, if/else functions, and percentage splits to personalize the emails. Once the journey is customized, setting email criteria and designing the emails themselves can be done using Mailchimp's Classic Builder or New Builder. Finally, publishing the drip marketing campaign allows for automatic delivery of emails based on set criteria, with options to segment the audience, set date-based automations, and experiment with frequency to optimize performance.