The Software as a Service (SaaS) Customer Engagement market is expected to grow significantly through 2026. Customer engagement software helps manage customer communications and interactions across a variety of channels and touchpoints. Customer service is the primary reason that enables customers to show brand loyalty, thereby generating consistent revenue for companies in all industries. According to a report by Aspects Software, 66% of consumers did more business with at least one company because of good customer service. Additionally, in 2018, 56% of consumers used AI at least once a week for their customer service interactions. With the increase in smartphone and internet usage, customers can easily access information about various products and services through multiple channels such as the web, social media and other applications. With an average time spent on mobile phones of around 5 hours per day and the availability of multiple customer touchpoints such as websites, social media, live chats, phone calls, brands find ample opportunity in addition to personal support to connect with customers of their brand and generate more sales . A report from Mordor Intelligence said the loyalty solutions market is valued with $ 15.52 billion in 2020 and is expected to be achieved $ 30.92 billion by 2026 with a CAGR of 12.65% in the forecast period (2021-2026). Active companies in today’s markets include Infobird Co., Ltd (NASDAQ: IFBD), Zeta (NYSE: ZETA), Zendesk, Inc. (NYSE: ZEN), HubSpot, Inc. (NYSE: HUBS), Sprinklr, Inc . (NYSE: CXM).
Mordor Intelligence added, “In addition to cloud-based solutions, the integration of AI is another trend that is becoming a standard offering by vendors in the market. According to Pegasystems, a leader in the market, in 2018 67% of customer experience leaders who used AI believed it was not only a tool to make the customer experience more efficient, but also to build more meaningful relationships with consumers. However, data security and privacy issues can hinder the growth of the loyalty solutions market. According to the study by Aspect Software, retail is one of the industries with the highest customer churn rate, with the main reason for brand switching being a poor customer experience. In such a competitive retail market, the need to acquire new customers and retain existing customers is crucial for retailers. “
Infobird Co., Ltd (NASDAQ: IFBD) BREAKING NEWS: Infobird Introduces WeChat Call Center, an intelligent SaaS product designed to capture new demand and market share in private domain traffic – Infobird Co., Ltd (“Infobird” or the “Company “), A software-as-a-service provider of innovative AI-supported or AI-supported customer loyalty solutions in China, today announced the launch of a new SaaS intelligent product – WeChat Call Center – marking the company’s entry into private domain traffic. As an integral part of the company’s standardized SaaS strategy, the WeChat Call Center from Infobird is intended to support companies in further increasing the value of existing customers through automated and personalized solutions for private domain traffic. For businesses, private domain traffic is considered part of the brand’s private assets that can be used to stay relevant in the customer’s mind, increasing the chances of a returning customer. By expanding the product application boundaries and business scope of Infobird, the company expects to generate significant value by creating new demand and entering unchallenged market space in a cost-effective manner known as the “blue market strategy”.
Infobird WeChat Call Center: automated / personalized interactions to gain value from existing customers
Infobird combines the advantages of Enterprise WeChat and Call Center to create a new generation of customer interaction platforms – WeChat Call Center. This product integrates AI, RPA, also known as Robotic Process Automation, and other technologies to provide businesses with automated and personalized private domain traffic solutions that help businesses retain customers and further increase their consumption potential.
In contrast to the private domain traffic tools available on the market, Infobird’s WeChat call center is based on AI, RPA, customer portraits and other technological capabilities that enable 1v1 personalized and automated services and marketing for corporate customers while maintaining the continuity and consistency of customer interaction. For businesses with a relatively large customer base, Infobird’s WeChat call center offers significant benefits in batch processing, automation, and personalization of services that can help customers greatly improve efficiency and reduce operating costs. Infobird’s WeChat Call Center creates private domain traffic for customers, which not only aggregates multi-channel customer resources in Enterprise WeChat, but also connects public domains with private domains, thus ensuring uniform operation of all channels including Enterprise WeChat, phone calls, SMS, websites and APPs. It maximizes the convenience of the customer’s day-to-day operations and improves the efficiency of customer interaction. CONTINUED … Read this full version for Infobird at: http://www.infobird.com/en/news/index?type=3
Other current developments in the markets are:
Zeta (NYSE: ZETA), a cloud-based marketing technology company that enables companies to acquire, grow, and retain customers, recently announced financial results for the past quarter June 30, 2021.
“Zeta’s results show that the growth rate accelerated in the second quarter, with over 30 new customers added, sales increased 39%, and Adjusted EBITDA increased 106% year-over-year,” said Zeta David A. Steinberg, Co-Founder, Chairman and CEO of Zeta. “We are well positioned to capitalize on the disruptive pace of digital transformation as brands seek solutions that combine scalability with precision to extract more value from their first-party data. Our software, which includes patented AI, proprietary data resources and real-time omnichannel capabilities, is specifically designed to enable brands to acquire, grow and maintain customer relationships with a higher ROI. A recent study commissioned by Forrester Consulting showed that brands that use ZMP see a 50% increase in the effectiveness of their marketing investments over a 3-year period. “
Zendesk, Inc. (NYSE: ZEN) recently released financial results for the past second quarter June 30, 2021, and published a letter to shareholders on its investor relations website.
Sales was $ 318.2 million for the quarter ended June 30, 2021, an increase of 29% over the same period last year. GAAP net loss for the past quarter June 30, 2021 was $ 58.4 million, and GAAP net loss per share (basic and diluted) was $ 0.49. The non-GAAP net income was $ 17.1 million, and non-GAAP net earnings per share was $ 0.14 (Basic knowledge) and $ 0.13 (diluted). Non-GAAP net income excluding approx. $ 61.0 million in share-based compensation and related expenses (including $ 3.9 million employer tax in connection with employee share transactions and $ 0.4 million the amortization of share-based payments that are activated in internally used software), $ 12.7 million the amortization of discount and spending costs, $ 1.8 million the amortization of acquired intangible assets, $ 1.2 million of depreciation of real estate, $ 1.1 million of acquisition-related charges and non-GAAP income tax effects and adjustments to $ 2.2 million. GAAP net loss per share for the past quarter June 30, 2021 was based on 119.1 million weighted shares outstanding (basic and diluted) and non-GAAP net earnings per share for the past quarter June 30, 2021 was based on 119.1 million weighted shares outstanding (basic) and 127.5 million weighted shares outstanding (diluted).
HubSpot, Inc. (NYSE: HUBS), the customer relationship management (CRM) platform for scaling companies, and Envato, the world’s leading online community for creative assets, tools, and talent, recently launched more than 250 high-quality and diverse Website themes on Evato Market, all specially designed for the HubSpot CMS Hub.
CMS Hub is designed for marketers and developers to help customers create seamless digital experiences with drag-and-drop page editing, mobile optimization, premium hosting, and more. Because CMS Hub was developed as part of HubSpot’s CRM platform, customers have direct access to all of their audience data that they can use to inform their content strategies and create better digital experiences.
Cameron Gough, Envato’s chief content officer, said the partnership is a natural link between two companies committed to making it easier to build an engaging web presence. “The Envato Market ecosystem, and ThemeForest in particular, is a respected marketplace for website design, with millions of customers backed by an extremely talented group of mostly exclusive theme authors.”
Sprinklr, Inc. (NYSE: CXM), the unified customer experience management platform for today’s business, recently announced it was named a leader in The Forrester Wave: Social Suites, Q3 2021 report.
According to the review, Sprinklr competes with an impressive and intensely customizable unified platform. This heavyweight supplier based in new York, presented one of the first more comprehensive visions beyond social media: to become a platform for “Customer Experience Management” and to solve the chaos of using multiple point solutions across digital channels. The vendor’s execution roadmap is focused on solidifying core areas of its platform by expanding its extensive list of channels, use cases, and third-party integrations (albeit not with other social technologies). Equipped with the new FedRAMP-ready status, Sprinklr is expanding its target market to include public sector organizations.
While other providers are only deep into a few social media modules, Sprinklr covers all social media needs equally – listening, customer service, organic publishing and advertising – as well as some secondary social products like influencer management and employee representation. The “intelligent” AI functions are retained across the platform, from the automatic detection of topics to ensuring compliance with guidelines and recommending customer service responses.
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