Clarabridge Wants to Continue Being that “Hub” Customer Experience Solution

For Clarabridge CEO Sid Banerjee, his company’s growth in recent years has been meteoric. The challenge, he told Loyalty 360, is the multichannel customer experience analytics marketplace is also growing very quickly and he wants Clarabridge to remain that “hub” solution.

Clarabridge is the leading provider of intelligent Customer Experience Management (CEM) solutions for many of the world’s top brands, including Walmart, Dell, Wendy’s, United, and Best Buy. Clarabridge has experienced more than 150% revenue growth, doubled its team and expanded globally with offices in London and San Francisco over the past three years.

“We’ve been acting as the hub connecting all different solutions together for a holistic experience,” Banerjee said. “We’re pulling that data into one view and farming that out to sales and marketing. There are social vendors, email vendors … our view is we want to continue to be that hub. We want to take advantage of that data in more ways than just analytics.”

Clarabridge recently announced the completion of an $80 million equity investment by new investors General Catalyst Partners, Summit Partners, and Unica-founder Yuchun Lee. Clarabridge will use the investment to further expand its global operations, power continued product innovation, grow its employee base, and increase reach through marketing and strategic transactions to capitalize on escalating market demand for CEM solutions.

Banerjee said the funding will enable a significant investment in Clarabridge’s employees, products and processes, accelerate innovation, both organically and strategically, and ensure the future of customer experience analytics at all levels of the enterprise.

“It also means addressing a broader group of potential beneficiaries,” Banerjee said. “We are building out our sales force, marketing, and messaging so we’re capturing all those nuances of the customer experience.”

Banerjee won’t rule out future “acquisitive possibilities” for Clarabridge.

“With the funding, we’ll be able to be more aggressive to grow the business,” he said. “There is plenty of opportunity with content integration with email, chat, social media, and surveys. People want to make sense of all that data.”

Banerjee said he also wants data to be used outside of analytics.

“We’re an analytics player trying to figure out what makes customers happy, unhappy, and why they’re buying things,” he said. “Once you have all that data, we can target people based on various interactions they have had.”

For example, Banerjee said a company using social engagement is collecting a fairly raw flow of content from social venues based on keywords. Then a person has to read through that to find a frequency of engagement.

“We can do more scoring on sentiment, matching up profiles and create targeted lists of customers most likely to respond to interaction management,” he explained.

The use of social information is rapidly evolving, Banerjee said.

“What’s happening is companies will start with the Wild West approach,” he said. “After the first wave of adoption, they start to realize they need more of a corporate analytics strategy so companies are starting to overlay best practices and more customer experience competencies at the corporate level. And you can act on and respond to this feedback.”

 

Recent Content

Membership and Pricing

Videos and podcasts

Membership and Pricing