In recent years, the way corporations interact with their customers has fundamentally shifted. As consumers increasingly engage companies in real-time, the pressure to manage consumer interactions and expectations across multiple platforms is mounting. Put bluntly: conversations with brands have become not only a possibility but an expectation. <\/p>\n\n\n\n
The ability to understand and engage in these types of conversations can make or break a company \u2014 a fact that Yoni Chisholm, marketing VP for Sprinklr, knows well. Customer experience, she says, is now the cornerstone of any successful marketing strategy. <\/p>\n\n\n\n
\u201cMarketing is no longer what brands have to say about themselves,\u201d Chisholm said in an interview last year<\/a>. \u201cIt\u2019s what customers are saying about brands.\u201d<\/p>\n\n\n\n Sprinklr, founded in 2009 and currently headquartered in Midtown South just steps away from the Empire State Building, has quickly established itself as a vanguard within the field of customer experience management (CXM). As companies seek seamless, efficient ways to manage consumer interactions across multiple platforms, Sprinklr has attracted some of the world\u2019s largest brands \u2014 including Microsoft, Cisco, Verizon, and McDonald\u2019s \u2014 with its tech. <\/p>\n\n\n\n One of the major keys to Sprinklr’s success? \u201cSprinklr doesn\u2019t assign sentiment to a single word or phrase\u201d Chisholm explained in a 2020 blog post<\/a>. <\/p>\n\n\n\n \u201cSprinklr\u2019s artificial intelligence capabilities can understand and differentiate which words are positive and negative based on their context. For example, for a healthcare company, the word \u2018sick\u2019 might be negative. But for a brand like Red Bull, \u2018sick\u2019 is a positive word.\u201d <\/p>\n\n\n\n What also sets the company apart from other CXM platforms is its all-in-one user experience: brands can manage their marketing, advertising, research, customer care, and engagement capabilities using a single login, in a unified platform. In other words: instead of toggling from one platform for social media monitoring to another for marketing campaign analytics, Sprinklr keeps it all in one place. This enables businesses to not only seamlessly monitor outbound communications, but also maintain a unified voice across all channels \u2014 the key to engagement, brand affinity, and customer loyalty. <\/p>\n\n\n\n The company combines its unified platform with sophisticated AI tools that not only inform companies on customer preferences, but the reasons why they act the way they do, allowing clients to make more data-driven advertising and marketing decisions going forward. Approximately 500 million conversations and 18 million consumer cases are captured on the platform each day, while Sprinklr\u2019s AI tool makes around 150 billion predictions each month. <\/p>\n\n\n\n \u201cWhen you and I speak one on one, it\u2019s easy for us to listen,\u201d Sprinklr CEO and founder Ragy Thomas said in a 2021 Collision Conference interview<\/a>. \u201cBut if I\u2019m a brand, especially a large, global brand, I\u2019m listening to hundreds of thousands, potentially millions, of conversations. So how do I understand and listen to what everybody is saying?\u201d <\/p>\n\n\n\n \u201cThe answer is obviously you use artificial intelligence and digital listening. You can\u2019t listen to more than one person if you don\u2019t have the technology.\u201d<\/p>\n\n\n\n Thomas chalks much of the company\u2019s success up to its targeting of the \u201cmodern customer\u201d: a digital-savvy, online consumer who is highly active and engaged on social media. Sprinklr not only mines customer data from social media and blog posts, but also from more unconventional \u2014 and highly innovative \u2014 sources like Quora, with whom Sprinklr signed a deal in 2020. The Quora-Sprinklr partnership gives brands access to more than a decade of customer insights \u2014 and a leg up on the competition: Sprinklr is the only software platform to offer access to Quora data. <\/p>\n\n\n\n The company has also inked two key partnerships: one, with Adobe\u2019s Exchange partner program, which allows Sprinklr clients to integrate with Adobe Analytics, Adobe Experience Manager and Marketo Engage. A second, with Oracle\u2019s Fusion Cloud Customer Experience (CX), bolsters Sprinklr clients\u2019 ability to engage with customers across various social media channels. <\/p>\n\n\n\n Partnerships with companies as large as Adobe and Oracle are key to Sprinklr\u2019s exponential growth. If it can integrate with platforms hundreds of Fortune 500 companies use in one shape or another, it only serves to make Sprinklr more accessible and thus a vital part of any brand\u2019s technology stack. <\/p>\n\n\n\n Sprinklr\u2019s approach is demonstrably effective for its users: Puma, a Sprinklr client since 2018, has increased social media conversions while eliminating the need to manually optimize ads for separate social media campaigns. Cosmetics giant L\u2019Oreal, meanwhile, has entrusted Sprinklr with helping the brand reach its goal of becoming a \u201c100% responsive company.\u201d<\/p>\n\n\n\n The multi-channel, unified platform approach is working for Sprinklr, too: since its founding, Sprinklr has seen exponential growth. In 2016, the company raised $150 million in its first fundraising round, then captured a whopping $200 million in 2020, on a $2.7 billion valuation. <\/p>\n\n\n\n Sprinklr, which currently has approximately 2,000 employees across 22 offices in 15 countries, is now preparing an IPO, after reporting a 19.3% revenue hike for the fiscal year ending January 31, 2021. Its initial offering, backed by private equity firm Hellman & Friedman, will see 19 million shares offered at $18 to $20 each. Sprinklr will trade under the ticker CXM.<\/p>\n\n\n\n Sprinklr\u2019s growth \u2014 and market dominance \u2014 positions it as a leader in the CXM field, which is itself seeing enormous expansion: in 2019, the CXM market size was estimated to be more than $8 billion;<\/a> this number is likely to increase to more than $21 billion by 2027. <\/p>\n\n\n\nInteractions matter<\/strong><\/h2>\n\n\n\n
The importance of managing experiences<\/strong><\/h3>\n\n\n\n
Sprinklr\u2019s bright future<\/strong><\/h3>\n\n\n\n