David Raab, Anand Thaker and Chitra Iyer analyze what the latest announcements in MarTech mean to marketers. Featuring latest CX news from Adobe, Verint, Adobe, Sprinklr, Freshworks, Wipro Digital, Rational Interaction, Thunderhead and Lytics.
Gartner’s recent prediction asserted that 89% of companies will compete solely on CX - the market for CX spending is growing exponentially. And today’s analysis is about that. We first set context on the scope of CX and the core components needed to create a comprehensive ‘CX ecosystem’.
Here are the recent CX news, trends and concepts we analyse on the show:
1. Wipro acquires Rational Interaction, a digital CX consultancy for $52 million. Interesting because technology vendors get the ‘tech’ but probably need help getting CMOs to see how the story and the tech are connected. As Rajan Kohli, President of Wipro Digital says, “[The acquisition] bolsters our end-to-end proposition for CMOs. We’ve combined Rational’s ability to engage and delight through the customer journey with Wipro Digital’s technical expertise and scale”. And Kahly Berg, CEO of Rational adds, “In terms of MarTech, customers need a unified human story and connection built into the technologies that support their experience as consumers”.
2. Sprinklr Releases 400 New Features across its 5 Products: the platform’s 5 components each address a core CX component - marketing, advertising, customer care, social media (which they call engagement) and research/data. The simple structure is nice, in the context of marketers being able to better visualize marketing applications and outcomes of tech investments.
3. Verint Expands Its Adobe Partnership to Support More Personalized Customer Journeys:
Verint is focused on collecting VoC data, and Adobe experience cloud enables all aspects of campaign delivery. We talk about the additional value this could create for Adobe users.
4. Thunderhead Announces Automated Individual-Level Journey Design
The customer journey orchestration engine announced an AI-driven platform to create individual-level optimized cross channel journeys. David explains “The system deals with the interdependencies among events, history, time, and path which overwhelm conventional methods”. Here’s what it means to marketers.
5. Freshworks, a customer engagement software company, acquires AnsweriQ Inc., a provider of ML and AI for enterprise scale. Basically this AI to inform customer service – helping agents sound much smarter and well informed, but also to sell more, and better. Could it be a game changer if it actually works?
And in CDP news this week:
1. Lytics Integrates with Google Cloud BigQuery, To Enhance Its Customer Data Platform: David clarifies what it means for enterprise marketers to move massive amounts of customer and raw data into Google’s cloud-based data warehouse environment for real-time analytics.
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