Tuesday, March 31st, 2015 | 6 min read
Today marks a huge milestone for the Sprinklr family. We just announced two very exciting pieces of news that validate the trust of clients, employees, and partners around the world who believed a company that started just five years ago in a basement in New Jersey could be something special.
First, we’ve raised $46m in new funding from our family of investors at a valuation in excess of $1 billion.
Second, and much more exciting, is what we raised all that money to do: launch the Sprinklr Experience Cloud(™).
The Experience Cloud is a complete, integrated, and collaborative technology infrastructure that connects all of a brand’s social touch points. It’s the platform brands need to deliver relevant experiences to their customers across the places they own, like their websites, and the places they don’t control, like social media.
Sprinklr clients have long enjoyed a purpose-built infrastructure that lets them manage dozens of social channels in a scalable way. Now that capability extends to two of the most critical digital touchpoints for both consumers and brands: websites and commerce. With Experience Cloud, brands can map the journey of their customers, starting at their first engagement and continuing all the way through the purchase cycle. This allows brands to truly understand what it means to be “social-to-scale” and measure the ROI of their efforts.
Before we dig further into what the Sprinklr Experience Cloud is, let’s answer a critical question: why does the world even need an Experience Cloud?
The answer actually has very little to do with brands. It’s about customers.
Customers have changed. They are more social, more connected, more mobile, more demanding, and more vocal. At the same time, they are less predictable, and their purchase process is much more complex than it used to be.
Given the massive changes in consumer behavior over the last few years, it’s reasonable to expect that brands would adapt accordingly. Unfortunately, we’re not there yet. Many brands are completely unprepared for this new world. They continue to operate in ways that reinforce the divisions between business functions (like marketing vs. service), and they do it with technologies that reflect the exact same divisions.
But the truth is that customers just don’t care. It’s irrelevant to them whether they’re talking to marketing or sales, US operations or UK operations. Any software, even if it’s in the cloud, that reinforces business-centric rather than customer-centric ways of doing business, is an evolutionary dead end.
Put simply, the Experience Cloud helps brands deliver a consistent and optimized experience across dozens of social channels, brand websites, and commerce. It gives brands a single unified view of their customer so that they can increase revenue, reduce costs, and mitigate risk.
Consumers complete 60% or more of their buying decision before they ever contact a business. As they progress through the buying process, they are influenced by experiences in environments the brand doesn’t control (social media, word of mouth, third-party websites), and in places the brand does control (websites, mobile applications, support forums).
What if a brand could understand all those touchpoints?
What if a brand could use data gathered at one point to optimize experiences at another?
If a consumer asks a question about the latest mobile phone on Twitter, shouldn’t the brand recognize it, record it, and optimize the experience on the brand website accordingly?
Shouldn’t the brand recognize that person when they seek support or when they’re advocating on the brand’s behalf?
The value of doing this is so obvious that it almost feels silly to write it out. From a customer perspective, it just makes sense. But for large enterprise brands, these seemingly simple behaviors (things your neighborhood small business owner does every day) are effectively impossible.
The problem is that brands try to deliver cohesive experiences with tools that are inherently fragmented and not customer-centric, and it’s just not working. Let’s be honest: an outdated piece of software delivered via the cloud is still an outdated piece of software.
The Experience Cloud solves this problem. It’s built explicitly to go beyond functions or departments and be customer-centric, channel-agnostic, and capable of integrating with existing IT investments.
It’s the technology that will enable brands to reimagine their relationships with their customers.
Brands need to deliver more human, more personalized, and more meaningful experiences at every touchpoint across the customer journey. Experience Cloud helps brands earn the love of their customers by delivering amazing experiences at every touchpoint.
That’s what Sprinklr is here to do. We help consumers fall in love with brands. As exciting as it is, today is just one more step in that journey, and we cannot wait to see what the next five years bring.
About the Author: Ragy Thomas is the Founder and CEO of Sprinklr.