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Category: EnterpriseCustomer

EnterpriseCustomer

  • Box CEO: All Hands On Deck With Digital Transformation

    Box CEO: All Hands On Deck With Digital Transformation

    “We saw very strong enterprise growth in the last quarter,” says Box CEO Aaron Levie. “We grew our number of big deals, which we measure as deals above $100,000 in transaction value, by 60 from Q1 to Q2 of this year. We’re happy about the momentum that we’re seeing in the business. Right now we are all hands on deck on supporting our customers and their digital transformation strategies and hopefully really enabling them to have a more secure and more seamless way to work in this environment.”

    Aaron Levie, CEO of Box, discusses the company’s continued growth and progress in supporting customers with their push toward digital transformation:

    Driving Better Balance Between Growth And Profitability

    We’re very happy about the quarter that we just put up. We are stabilizing the growth rate with 11 percent revenue growth. We had nearly a 16 percent operating margin for the quarter. That’s been a trend that we’ve obviously been driving for the past year or so around really driving a better balance between growth and profitability. We improved our guidance on both revenue growth and profitability for the rest of the year. We guided to about 12 to 13 percent operating margin for the full year (FY21) and so we do think these results are sustainable.

    Obviously, we want to be able to continue to drive them going into next year and beyond. We’re very happy about the efficiency of the business right now as well as our ability to go out and serve customers and help them power a new way to work in this very very you know dynamic landscape.

    All Hands On Deck With Digital Transformation

    The first couple quarters of the year we had to step back and figure out in this economy and in this market what could we do to best serve our customer base. In some segments, we had to lean in to make sure that we were better supporting our customers. In other segments, we saw more growth because in spaces like financial services, healthcare, life sciences, and the tech sector there’s still a tremendous amount of economic growth occurring. So we had to do a little bit of a reset in some of our segments, especially the SMB segment. and we’re seeing really healthy pipeline for the second half of the year.

    At the same time, we saw very strong enterprise growth among these customers. We grew our number of big deals, which we measure as deals above $100,000 in transaction value, by 60 from Q1 to Q2 of this year. We’re happy about the momentum that we’re seeing in the business. We do expect that we’re going to continue to drive growth coming into the second half of the year. Right now we are all hands on deck on supporting our customers and their digital transformation strategies and hopefully really enabling them to have a more secure and more seamless way to work in this environment.

    Need Better Interoperability Between Technologies

    In the enterprise segment, you deal with similar questions (as consumer-facing companies do with anti-trust). How do we ensure long-term that you have interoperability between our technologies? If I put my data into one cloud platform will I have the ability to make that data work with other applications from other cloud technologies? Whether or not there needs to be oversight that’s obviously going to be a big question for the government.

    What I do think across the industry we do need to continue to work on better standards. We need to drive better interoperability between our technologies. I can say confidently that companies like Microsoft and Google and others are working on making sure that we have greater interoperability between our technology stack. We work with companies like Slack, Zoom, Salesforce, and others to make sure that we have that interoperability as well. But there’s still a long way to go to really create a seamless experience for the broader customer base out there.

    No Precedent For The Type of TikTok Deals Playing Out

    Aaron Levie: I don’t understand business anymore, but this is very fun to watch.

    This is obviously a very strange environment (in reference to TikTok deal rumors). I don’t think there’s been a precedent for this type of acquisition playing out ever. Especially in the back of the antitrust element, you don’t have the logical acquirers of this type of social media technology at play. All you really have are these interesting configurations of maybe not the most classic acquirers of a social tool. This is causing a lot of questions on what is the long-term strategic nature of these deals.

    This is especially true for companies that don’t have a strong advertising business model or might not have some of the same demographic within their customer base. That being said, all of the players, whether it’s Larry Ellison or Satya or Doug at Walmart, these are all incredibly smart and savvy business people. I’m sure that behind the scenes there’s quite a deal of strategy going on but it’s certainly fun to watch play out.

    Box CEO Aaron Levie: All Hands On Deck With Digital Transformation
  • There Are No People In Headquarters Right Now, Says Cisco CEO

    There Are No People In Headquarters Right Now, Says Cisco CEO

    “We have a significant business that is related to corporate headquarter facilities and there are no people in those headquarters right now,” says Cisco CEO Chuck Robbins. “So there is a lot of discussion around what does corporate real estate look like? I personally believe that once we get through the vaccine period that people will want to get back to the offices in general. It’s going to be fine.”

    Chuck Robbins, CEO of Cisco Systems discusses the impact of COVID on their business strategy considering Q4 earnings and how this will impact their future:

    There Are No People In Headquarters Right Now

    It doesn’t feel much different today than it did 90 days ago. We have a significant business that is related to corporate headquarter facilities and there are no people in those headquarters right now. So there is a lot of discussion around what does corporate real estate look like? I personally believe that once we get through the vaccine period that people will want to get back to the offices in general. It’s going to be fine.

    We are going to use this opportunity to actually shift our investments and prepare for that moment. I think that when we get to the other side of this thing that with the strategy and the portfolio we have we are going to be fine.

    Why Webex Didn’t Carry The Day For Us

    I heard several comments that are questioning why Webex didn’t carry the day for us today. Webex grew double digits so we had good success with it. But in the context of our almost $50 business, it’s a small percentage. It’s a very small number in that context. We had success, it’s still growing and the teams are doing a great job.

    There is a whole lot of innovation that is planned over the coming months for that platform. We’re excited about what’s going on. As we’ve talked about, it is secure and enterprise-grade and that’s where it shines.

    There Are No People In Headquarters Right Now, Says Cisco CEO Chuck Robbins
  • Customer Meetings Will Change Forever, Says Shark Tank’s Robert Herjavec

    Customer Meetings Will Change Forever, Says Shark Tank’s Robert Herjavec

    Some things in the new world will change forever. Customer meetings will change forever. In the past, I never thought that I could do a Zoom call or a Teams call with the CEO of a company I’m trying to sell to. In the future, I don’t think my customers will want me to come and see them. There’s continued opportunity for remote access. Anything that allows you to connect with clients online or build the brand is going to be really valuable. I had an Instagram Live yesterday with Kris Jenner. She’s been selling online for years now. Every business needs to move online, especially small business.

    Robert Herjavec, mega entrepreneur and Shark Tank star, says on CNBC that the coronavirus crisis has caused the word to change forever. Meetings will never be the same and many other post-pandemic changes are in store:

    Customer Meetings Will Change Forever

    When all of this first happened we wanted to use Zoom because all our customers use Zoom. But I have got to tell you, some of the security issues are really pretty bad within Zoom. So we’ve switched over to Microsoft Teams. I think that’s one of the reasons that Microsoft stock is doing so well. The use of Teams at the corporate enterprise level is really taking off. We’re also seeing Webex usage really go up. There was also the acquisition of BlueJeans (by Verizon), another video conferencing platform.

    I have become very optimistic about the return, whenever the return is, and what the world will look like. Some things in the new world will change forever. Customer meetings will change forever. In the past, I never thought that I could do a Zoom call or a Team’s call with the CEO of a company I’m trying to sell to. In the future, I don’t think my customers will want me to come and see them. There’s continued opportunity for remote access. Anything that allows you to connect with clients online or build the brand is going to be really valuable. I had an Instagram Live yesterday with Kris Jenner. She’s been selling online for years now. Every business needs to move online, especially small business.

    We’re Into This For The Long Haul

    I used to think that we were in a light switch moment where miraculously President Trump will get on the news and say we’re all back on this date. But I think what we’re seeing now in California and in New York is that it’s going to be⎯⎯we’re into this for the long haul. Certain parts of the economy will go back quickly. But even the ones that do go back are going to be limited. 

    Restaurants will have to distance half the tables. If I have more space in my restaurant can I charge more along that line? I think it’s going to be challenging but with all those challenges there’s going to be opportunities. The key for me about going back is testing. What that means and how people get tested. There’s a great new saliva test that was approved by the FDA where people can do it at home and I think we just have to be able to do that at scale.

    Nobody Wakes Up And Says “I Want My Life To Suck”

    Shark Tank is a mirror to what’s happening in the American economy. When we started the show twelve years ago it was during the financial crisis. Nobody could get a loan. So people started a lot of businesses that you didn’t need capital for. Then we moved to online selling. This will be the same thing. If I’ve learned anything on twelve years from Shark Tank it is that the human condition is about hope. Nobody wakes up and says I want my life to suck. Every time somebody comes on Shark Tank they are full of hope and they’re full of optimism. 

    This is a challenging time but entrepreneurs will figure it out. The key though is you’ve got to have a growth plan. The stimulus plan, the protection plan, all these relief funds, are simply survival funds. They are not growth funds. If you don’t have a plan to grow, if you don’t have a plan to gain market share, getting a stimulus today is just keeping you in business. It’s not helping you to grow. You’ve got to have a game plan for that.

    I want to know what people’s plan is for survival. It makes me want to invest in two types of companies, either a company that has a very strong balance sheet or companies like an Uber or a small business that can scale back its costs. I want to invest in a company that can quickly scale its expenses to meet a decline in revenue or vice versa. So fluidity and the ability to adapt in a small business is really going to be the key. I don’t want to invest in a business with a large infrastructure, buildings, equipment, and all that kind of stuff. That stuff is very difficult to scale down.

    Customer Meetings Will Change Forever, Says Shark Tank’s Robert Herjavec
  • 6 Ways to Achieve Great Employee and Customer Engagement

    6 Ways to Achieve Great Employee and Customer Engagement

    There are six things that you need to think about with employee engagement and customer engagement says Andrew McMillan, a renowned customer experience expert based in the U.K. “The most important thing is what you do for each other is actually what you do for customers.”

    Andrew McMillan, a leading customer experience expert, recently discussed customer engagement strategies at the London Business Forum:

    Customer Experience is Simple

    For me, customer experience is simple. I think the first part is to know who you are as a business and to know what your personality is going to be. Friendly, kind, thoughtful, helpful, or forward thinking? What’s the personality of your brand? Then come up with some attributes and behaviors that are going to enhance that personality. That’s what you then start to try and recruit in terms of your employees.

    How You Treat Employees is How Employees Treat Customers

    The most important thing, I think I learned from John Lewis, was actually what you do for each other is what you do for customers. Create that working environment for your employees so they find their managers are friendly, thoughtful, and kind to them. I believe then, it’s just a leap of faith but I proved a ton time again, that they will then be friendly, thoughtful, and kind to their customers.

    What is Your Companies Vision?

    The North Star, some people will call it visions and some people call it purpose. It’s just why do we exist? Why should anybody care about this? Why should anyone want to do any business with us? John Lewis’s was a bit of a strange one actually. The purpose in 1929 was to have an organization where employees were happy.

    So these can be really highly aspirational and lofty or they can be very very simple. But having something there, the idea is that people come to work inspired and having a sense of purpose.

    John Lewis Partnership – Vision

    6 Ways to Achieve Employee and Customer Engagement

    There are six things that you need to think about with employee engagement and customer engagement:

    1. The first one is to define what your personality is going to be in terms of behavior and attitude. It can be friendly, kind, thoughtful, whatever you want to be as a business.
    2. The second one is to measure that and measure it with employee surveys and customer surveys. This is inside-out. This is what you do for your employees and what you hope they’ll do for customers.
    3. The third thing is to communicate it. Communicate it at inception. Then continue to tell stories about people who’ve lived up to those behaviors and attitudes to see what it’s done for customers and what it’s done for them to bring it to life, so people can see what it looks like.
    4. The fourth thing is leadership. That’s probably one of the biggest things I see that’s lacking in organizations. There should be leaders modeling the behavior that we talked about and then actually coaching it in their team’s to encourage them to deliver that behavior for each other and for their customers.
    5. The fifth thing is HR really. It’s a Reward Recognition Appraisal to make sure those are links to not just the outcomes people achieve but the alignment with the behavior with which they achieve those outcomes. So it’s about how they do things, not just what they do.
    6. Finally, the sixth part is the recruitment. If you’ve done the first five really effectively and really built a cohesive network around those first five, you’ve got a great blueprint for exactly the sort of personality and individual you want to recruit into your business.
  • Qualtrics IPO Is A Win-Win, Says SAP CEO

    Qualtrics IPO Is A Win-Win, Says SAP CEO

    Just twenty short months after SAP announced their intention of acquiring Qualtrics for $8 billion just prior to their IPO SAP is taking Qualtrics public.

    “The Qualtrics IPO is actually a win-win situation for both SAP and Qualtrics,” says SAP CEO Christian Klein. “When we are talking about Qualtrics let me first outline that Qualtrics was for sure one of the best acquisitions SAP ever did. They performed in the last 9 months above and beyond all the expectations we have set at the point of the acquisition. Now, three months back when I became the sole CEO of SAP Ryan Smith and I discussed a few options about how to move Qualtrics to the next level.”

    “SAP’s acquisition of Qualtrics has been a great success and has outperformed our expectations with 2019 cloud growth in excess of 40 percent, demonstrating very strong performance in the current setup,” Klein stated. “As Ryan Smith, Zig Serafin, and I worked together, we decided that an IPO would provide the greatest opportunity for Qualtrics to grow the Experience Management category, serve its customers, explore its own acquisition strategy and continue building the best talent. SAP will remain Qualtrics’ largest and most important go-to-market and research and development (R&D) partner while giving Qualtrics greater independence to broaden its base by partnering and building out the entire experience management ecosystem.”

    “When we launched the Experience Management category, our goal was always to help as many organizations as possible leverage the XM Platform as a system of action,” Qualtrics Founder Ryan Smith said. “SAP is an incredible partner with unprecedented global reach, and we couldn’t be more excited about continuing the partnership. This will allow us to continue building out the XM ecosystem across a broad array of partners.”

    SAP agreed to acquire Qualtrics just four days before Qualtrics was to go public in 2018, recognizing the potential of bringing together experience and operational data (X+O) to help organizations take action. SAP currently owns 100 percent of Qualtrics shares. SAP will retain majority ownership of Qualtrics and has no intention of spinning off or otherwise divesting its majority ownership interest. Ryan Smith intends to be Qualtrics’ largest individual shareholder.

    Christian Klein, CEO of SAP, discusses the reasons for their IPO and says that Qualtrics has been the best acquisition that SAP ever did:

    Qualtrics IPO Is A Win-Win For SAP and Qualtrics

    When we are talking about Qualtrics let me first outline that Qualtrics was for sure one of the best acquisitions SAP ever did. They performed in the last 9 months above and beyond all the expectations we have set at the point of the acquisition. Now, three months back when I became the sole CEO of SAP Ryan Smith and I discussed a few options about how to move Qualtrics to the next level. The partial IPO, we are both fully convinced, is actually a win-win situation for both SAP and Qualtrics. 

    First, it will allow Qualtrics to focus on the non-SAP customer base in a high closed market. Second, despite the IPO, of course, SAP will remain fully committed to Experience Management (XM) and we will develop further use cases for our customers. We will also continue with the joint go-to-market. SAP is fully committed and will be in the long run highly committed to to Qualtrics and also will remain a majority shareholder of Qualtrics going forward.

    IPO Allows Qualtrics To Go After non-SAP Customers

    We kicked off already in the last 19 months, great use cases for our customers. We launched Human Experience Management (HXM) which helped both to accelerate the sales of Qualtrics but also our core application success factors. We did the same for commerce. In our product strategy, it actually plans to really expand experience management across our solution portfolio. 

    Our employees are very excited about that because they see the benefits for our customers and this is something that won’t change with the IPO. This will allow Qualtrics more autonomy to also go after the market with non-SAP customers as this is a high quote segment.

    Qualtrics IPO Is A Win-Win, Says SAP CEO Christian Klein

  • Tech Companies Must Have A Subscription Business Model: Nutanix CEO

    Tech Companies Must Have A Subscription Business Model: Nutanix CEO

    “You have got to have a subscription business model just like Netflix, just like Adobe and just like Microsoft,” says Nutanix CEO Dheeraj Pandey. Customers subscribe and we stream innovation. We’ve been streaming a lot to our customers. We talked about Home Depot recently. They’re seeing a record demand in the pandemic and we really helped them consolidate their infrastructure.”

    Dheeraj Pandey, CEO of Nutanix, a leading enterprise cloud technology provider, discusses how a subscription business model is key for survival and growth for technology companies:

    Tech Companies Must Have A Subscription Business Model

    As a company, we started almost ten years ago in a recession. The first killer workload for hyper-convergence was virtual desktops. People said Windows is dead. We said long live Windows. We went after federal customers and did an amazing job of building a very reliable company. Just taking a step back, we’re in the business of building cloud software. A lot of this comes down to the word software and cloud. We’re really thinking hard about being amorphous, being everywhere, being in the private data centers at the edge, and in the public cloud. 

    Cloud is hard and you really need to make it simple, seamless, and secure. But most importantly, you have got to have a subscription business model just like Netflix, just like Adobe and just like Microsoft. Customers subscribe and we stream innovation. We’ve been streaming a lot to our customers. We talked about Home Depot recently. They’re seeing a record demand in the pandemic and we really helped them consolidate their infrastructure.

    Cloud Is About Consuming Smaller Things

    The best way to measure our performance is a cloud subscription currency. We started talking about it as of last quarter and we grew really well with annual contract value. If you think about it cloud is about consuming smaller things. Hardware was about seven-year entitlement and software is still five to seven years. We’re saying let’s go do three-year terms and one-year terms. You’ve got to start small. 

    The recession is also the best time to go back with bite-size of what the customer really wants to buy. Annual contract value is the way of measuring our growth. It is also going to make this whole transition. I talked about Netflix and others and this whole transition unlocks amazing operational efficiencies for the company as well.

    Tech Companies Must Have A Subscription Business Model: Nutanix CEO Dheeraj Pandey
  • ServiceNow CEO: At The Forefront Of The Digital Transformation Rage

    ServiceNow CEO: At The Forefront Of The Digital Transformation Rage

    “Digital transformation is the opportunity of this generation,” says ServiceNow CEO Bill McDermott. “If you look at the Zoom partnership as one example, all companies want simple, easy, seamless experiences for their people and their customers. This is how you transform companies. This is how you grow and this is how you navigate a digital experience to win. We’re at the forefront of the digital transformation rage in the cloud.”

    Bill McDermott, CEO of ServiceNow, discusses their partnership with Zoom and how that is part of them being at the heart of the current digital transformation rage in the cloud taking place with every major company worldwide:

    We’re At The Forefront Of The Digital Transformation Rage

    Digital transformation is the opportunity of this generation. If you look at the Zoom partnership as one example, all companies want simple, easy, seamless experiences for their people and their customers. This is how you transform companies. This is how you grow and this is how you navigate a digital experience to win. We’re at the forefront of the digital transformation rage in the cloud. We’re super excited.

    If you look at Zoom, they had 300 million users utilizing their system in the heart of this COVID crisis. I expect that will continue to grow. The question was how do you handle 300 to 400 million users, most of them concurrently on a global scale? They turn to ServiceNow to solve that problem. Our customer service management solution is like no other in the marketplace. We can not only use self-help tools for customers, but we can also use virtual agents. Best of all, most of the service that will be required when Zoom does have to remediate an issue will be done predictively on the Now platform. 

    ServiceNow At The Epicenter Of Helping Zoom Innovate

    Furthermore, they also want to have a hardware as a service business model that they’ll bring to offices all over the world. The idea here is simple, touch it once–instant collaboration, instant linkage to the ServiceNow workflow, and then the users get a great experience. That hardware as a service business model will be very large for them because they want to displace existing legacy vendors with their modern solution. ServiceNow is in the epicenter of helping Zoom utilizing our great innovation and ultimately taking both of these solutions to market to help many many customers around the world.

    If you look at the tech sector for cloud, companies that are at the forefront of creating great digital experiences, these companies are going to continue to scale, continue to hit new highs and continue to grow. Nine out of ten CEOs have a digital-first strategy before COVID. Now I suspect that 10 out of 10 would have a digital-first strategy. It’s the only way to navigate these choppy waters. 

    We Get Things Done In Days and Weeks, Not Years

    The companies that will do less well, and I’m just basing this on research and current results, are the ones that have heavy time-consuming elongated project cycles or potentially commodity hardware where customers are just not going to invest in that. Whatever they invest in they want a return and they want that return to come quite quickly. In the case of ServiceNow, our business cases show 5, 6, 7 times return on investment and we get things done in days and weeks, not years. That’s what makes the big difference. Speed, value creation, and truly illuminating great employee and customer experiences are what this market is all about.

    One of the things that we covered in our last earnings call is that 20 percent of our business is in one-way shape or form tied to industries that would be highly impacted by COVID. What was amazing is we didn’t have one down-sell or one cancellation in that total customer group. What you’re seeing is when you have a platform company that truly can innovate, make work actually work better for people, take cost out, and improve business productivity, that’s the last place even challenged industries are going to cut. 

    We’ve been very fortunate because the partnerships that we have built with this hungry and humble culture and our near 100 percent retention rate are paying off even in the most challenging industries like the airlines, hospitality, and retail.

    ServiceNow CEO Bill McDermott: At The Forefront Of The Digital Transformation Rage

  • Apple Purchases Fleetsmith to Beef Up Device Management

    Apple Purchases Fleetsmith to Beef Up Device Management

    Apple has acquired Fleetsmith, the creator of a device management solution that helps companies manage their Apple devices.

    According to the company’s site, their solution “automates device setup, intelligence, patching, and security, for your company’s Macs, iPhones, iPads, and Apple TVs.”

    In a blog post, co-founders Kenneth Kouot and Zack Blum, as well as Jesse Endahl write:

    We’re thrilled to join Apple. Our shared values of putting the customer at the center of everything we do without sacrificing privacy and security, means we can truly meet our mission, delivering Fleetsmith to businesses and institutions of all sizes, around the world.

    The acquisition will likely be a big help to Apple as their devices continue to gain popularity in the enterprise. Fleetsmith will give them a viable first-party device management option to offer customers.

  • Lenova Expands Linux Certification to Its Entire Lineup

    Lenova Expands Linux Certification to Its Entire Lineup

    In good news for Linux, Lenovo has expanded its Linux certification to its entire ThinkPad and ThinkStation lineup.

    Toward the end of April, Lenovo announced it would be offering Fedora Workstation on its ThinkPad laptops. Previously, Dell had been the main manufacturer offering an OEM Linux option.

    It seems Lenovo is now going all-in on Linux, with both the ThinkPad and ThinkStation lineup being certified for both Red Hat Enterprise Linux and Ubuntu LTS

    “Now, I’m excited to share Lenovo is moving to certify the full workstation portfolio for top Linux distributions from Ubuntu® and Red Hat® – every model, every configuration,” writes Rob Herman, General Manager, Executive Director Workstation & Client AI Group.

    “While many users prefer to customize their own machines – either on hardware without an OS or by wiping an existing client OS, then configuring and installing Linux – this can raise uncertainty with system stability, restricted performance, compatibility, end-user productivity and even IT support for devices. Now that these users are making their way out of the proverbial shadows and onto the enterprise floor, the demand is high for an out-of-the-box solution that removes the barrier for deployment of enterprise-grade hardware within a Linux software ecosystem.”

    This is an excellent turn of events for Linux and its users, and will help remove a barrier-to-entry for the operating system.

  • Digital Transformation Is More Important Than Ever, Says VMware CEO

    Digital Transformation Is More Important Than Ever, Says VMware CEO

    “In this environment, digital transformation is more important than ever,” says VMware CEO Pat Gelsinger. “If you think of it only a few percentages of employees worked from home before this (pandemic). Now it’s 97 percent. Given the length and challenges that people faced this doesn’t go away.”

    Pat Gelsinger, CEO of VMware, discusses how the pandemic has accelerated digital transformation and dramatically increased the work from home trend for enterprise companies:

    Digital Transformation Is More Important Than Ever

    In this environment, digital transformation is more important than ever. If you think of it only a few percentages of employees worked from home before this (pandemic). Now it’s 97 percent. Given the length and challenges that people faced this doesn’t go away. We are going to be here for the next two years where the majority of workforces, a substantial portion, are going to be work from home distributed workforce.

    In the face of that IT and technology are more important not less. Sometimes it takes a decade to make a week of progress and sometimes a week gives you a decade of progress. All of a sudden, education, healthcare, and work from home are making huge steps forward. That’s what gives us the view that long-term tech is going to be stronger and software and cloud will be stronger yet than the overall economic environment.

    Work From Home Is The New Normal

    For VMWare, we were 20 percent work from home. I expect as we continue in this environment we will end up in at 50 to 60 percent over time. I don’t think we are atypical. We’re doubling and tripling the amount of work from home. When you think about that distributed workforce, essentially you go from 100 or 200 sites depending on the size of your company to 10,000 or 20,000 sites.

    When you think about every home becoming a new worksite they need to be managed, connected, and productive. They need to be secure. They need good quality and bandwidth. Then they need capacity. That’s where VMWare cloud comes in. That’s our business continuity focus for the future.

    We don’t see ourselves as atypical here. This is the new normal. We’re excited to see these transformations happening across the industry and we’re making good progress with customers around the globe.

    Every CIO Is Adjusting Their Priorities

    We used to generate new projects with POC’s and being face to face with customers. The salesmen always liked to shoulder up with the potential customer. We have to make adjustments. Every CIO is also adjusting their priorities due to this radical shift of a distributed workforce and the new demands that are being placed on them.

    Digital Transformation Is More Important Than Ever, Says VMWare CEO Pat Gelsinger
  • We Are An Experience-Driven Company, Says Chewy CEO

    We Are An Experience-Driven Company, Says Chewy CEO

    “Last year we sent about 50,000 pet portraits to our customers,” says Chew CEO Sumit Singh.  “We’re an experience-driven company. This is not a cost. This is an engagement mechanism. We’ve partnered with about a thousand local artists across the country. We think of this as an experience building. We have 90 percent re-ups (of our subscriptions). Our customers love engaging with us.”

    Sumit Singh, CEO of Chewy, discusses their IPO (launched today) and how customer engagement has driven their phenomenal growth in an interview on CNBC:

    We Are An Experience-Driven Company

    Last year we sent about 50,000 pet portraits to our customers. We’re an experience-driven company. This is not a cost. This is an engagement mechanism. We’ve partnered with about a thousand local artists across the country. They show up to your doorstep unannounced. It’s a total surprise. You can’t buy them. When they do (the paintings) they create memories. People talk about them. They drive dinner table conversations. They show up on social media. It’s just an emotive category.

    We think of this as an experience building. We have this because we want it, not because we need it in some way. Once we get out there and once this shows up on your doorstep the engagement that it creates generates the loyalty, the repeat purchase rate. In fact, our cohorts just keep growing from $330 to $500, $600, and $700 as they go from year five, six, and into year seven. This is what does it. Pets is the only category where a consumer refers to themselves as a pet parent. The only other category where consumers do that is kids.

    “Jackson loves his Chewy portrait!” notes Chewy customer Eri Anne

    Our Customers Love Engaging With Us

    Pet ownership is underrepresented in the growth of e-commerce. First of all today in the United States we’re only about 14 percent penetrated from an online point of view. Chewy, if you look at it, is a $70 billion dollar industry. We’re penetrated in about roughly 10 percent of the households. We have 11 million customers. We’re growing fast and we’re engaging them hard.

    They stay with us. It’s the two flywheels, the engagement, and the acquisition. It just spins really well. Our investors love that. Our customers love that. We like it. We have 90 percent re-ups (of our subscriptions). Two-thirds of our revenue comes from Autoship and our subscription program. Our customers love engaging with us.

    We Have An Incredible Amount of Data

    Our shipping (cost) is built into our gross margins. What you’ve seen is as we’ve gotten big fast, we’ve also gotten fit fast. Our gross margin has expanded over 500 basis points over the last three years. We have a dense network. We have the predictability of Autoship. We can plan supply plan tighter and baseload build a lot tighter and get it to our customers fast and in a reliable manner. That’s how we make it work.

    We have a ton of data. When you contact us you’re giving us (information). Pet profiles is an amazing way for us to engage with you. Customers are leaning in. We talked to you via customer service. At this point, we have 11 million customers but we manage over 27 million relationships between pets and pet parents. That is an incredible amount of data and facts to have on base.

    Pets.com Was 20 Years Ago

    The company (Pets.com) was 20 years ago. Look at the way the e-commerce has built out, the inputs are changing. Look at our stickiness. Look at the number of customers that we’re attracting. The fact that we’re servicing greater than 95 percent of US households in less than two days and the fact that customers keep coming back to us. Also, the necessity and desire to continue to engage and seek information via the high-touch high-class customer service that we provide. We just closed the loop better than anybody else out there.

    We Are An Experience-Driven Company, Says Chewy CEO Sumit Singh
  • How Amperity Uses Machine Learning To Unlock Data and Supercharge Marketing

    How Amperity Uses Machine Learning To Unlock Data and Supercharge Marketing

    “Nobody was using machine learning to point at the underlying consumer data to help make sense of it and bring it together,” says Matthew Biboud-Lubeck of Amperity. “We put together cloud computing that was scalable with better economics alongside a machine learning algorithm that we were pointing at the data to help make sense of it. We realized that what we had was a pretty scalable solution to help brands get to that nirvana of a single view of the customer.”

    Matthew Biboud-Lubeck, VP of Strategic Services at Amperity, discusses how their platform helps brands create a complete view of their customers in an interview on the B2B Growth podcast:

    Helping Brands Create a Single View of Their Customers

    We are a CDP (customer data platform) based in Seattle that is helping brands create a single view of their customers and to unlock personalized experiences from that data. If you look back to the founding of Amperity about three years ago our founders were canvassing the marketplace. What you saw was a marketplace using a lot of buzzwords but having a lot of trouble executing them. You heard about personalization, customer 360, and a 360 view of the customer. Marketers across major consumer brands were super frustrated.

    They spent a fortune trying to cobble some view of their customer. They invested in technology to help them send better emails, to make their media more targeted, and to unveil better analytics. All of those tools that they have invested in talked about the notion of a single view of the customer because they fundamentally needed that to operate. The reality was that nobody was getting to the solution. We came in to say maybe there is a better way.

    Machine Learning Helps Brands Get To Nirvana

    There were two things that changed in the marketplace that we capitalized on. First of all, it was that cloud computing got a lot cheaper. It used to be that if you were a big brand and got hundreds of millions of customer interactions, it’s just a lot of data. Part of the reason that no one was able to create an easy solution to putting that all together was because it was cost prohibitive.

    The second really interesting evolution in the market is that machine learning has become much more mature. What we found was that everyone in the marketplace was using machine learning to make that last mile to the marketer a little bit better. It was used to decide which products to show a customer or to decide which offer to show a customer or to create a customer care solution that’s automated. You go online and type toward a solution and some bot talks back to you. Nobody was using machine learning to point at the underlying consumer data to help make sense of it and bring it together.

    We put together cloud computing that was scalable with better economics alongside a machine learning algorithm that we were pointing at the data to help make sense of it. We realized that what we had was a pretty scalable solution to help brands get to that nirvana of a single view of the customer. That’s how we were born. What’s interesting is that the customer data platform space is a little bit confusing. You have a lot of companies that started as something else that rebranded as a CDP. We were purpose-built from the ground up as a customer data platform designed to bring all of a brands data, reconcile that data to create a notion of identity on it and then to unleash that data back to the brand anywhere that they want to use that data.

    >>> Listen to the full B2B Growth podcast here.

  • Without AI, Real-Time Personalization Would Not Be Possible

    Without AI, Real-Time Personalization Would Not Be Possible

    “How do we shorten the space between a signal that we get, say in behavioral data that we see show up either in an app or on a website, and then churn through all of the possibilities of what we could present, apply algorithms to determine what is the next best offer and next best experience?” asks Adam Justis, Director of Marketing at Adobe Experience Cloud. “Then how do we present that in a way that actually feels if not real-time pretty close to it? That would not be possible without artificial intelligence.”

    Adam Justis, Director of Marketing at Adobe Experience Cloud, discusses how AI and machine learning are enabling near real-time shopping personalization in an interview with theCUBE at Adobe Imagine 2019 in Las Vegas:

    Role of AI in Offering a Personalized Shopping Experience is Core

    You definitely have the data piece and then the content piece. I would also add how the complexity of all that has certainly exceeded the capacity to manage this in a singular sort of engagement with a customer, let alone at scale millions of times a day. So the role of artificial intelligence and machine learning now is so core. It’s sort of the gearbox that’s turning at the center of the data on one hand and the content and elements, the assets, the offers, on the other that allows for ultimately the coalescing of those things and then the delivery of an experience worth having.

    That’s the component pieces that we’re seeing at play and Adobe’s motivation in going into that space. At Adobe when we announced our intent to acquire Magento, we were talking about how does Adobe facilitate or help every experience become shoppable and every moment personal? Really that was a claim we couldn’t make without the Magento piece. It is absolutely a hand in glove relationship especially as we’ve all evolved as consumers.

    Advancements in AI Are Going From the Absurd to the Very Real

    To imagine that we would be subscribing to socks or that we could one-click purchase just about anything, you need the technology that can keep pace with the expectations. That’s what it’s all about. So many of those experiences that Adobe is intent on enabling our customers to present culminate in a transaction of some sort. Magento is absolutely not only the icing on the cake but it’s also so integral. It’s becoming a fundamental or elemental part of what we’re trying to accomplish.

    That (personalized experience) is one of the things that I absolutely love about customer experience management or CXM. In a way I kind of love the absurdity of it. When you think of the scale, to say something like we’re going to make every experience shoppable and every moment personal, to imagine that that’s possible is almost absurd. But when you introduce the advancements that we’re seeing in artificial intelligence and machine learning now it’s literally going from the absurd or the realm of science fiction into very real. That’s what Adobe is looking at.

    Without AI Real-Time Personalization Would Not Be Possible

    How can we literally take some sort of statement like we’re going to personalize experiences across the customer journey and we’re going to do it at scale and in real-time? Really, unless you’re considering how we’re going to meet the needs of the customer in the moment that they’re expressing that need then it’s really moot. It is absolutely artificial intelligence and machine learning that we’re seeing expressed now across the Adobe Experience Cloud that is making that happen in multiple ways. One of the ways would be simply by shortening that span between the latent genius that marketers are walking around in their heads and actual execution. How can we take some of the friction out of the workflows that allow them to translate their ideas into offers?

    How do we shorten the space between a signal that we get, say in behavioral data that we see show up either in an app or on a website, and then churn through all of the possibilities of what we could present, apply algorithms to determine what is the next best offer and next best experience? Then how do we present that in a way that actually feels if not real-time pretty close to it? That would not be possible without artificial intelligence. At Adobe we do that through a product called Adobe Sensei.

    Adobe: Without AI Real-Time Personalization Would Not Be Possible
  • There Is No Aspect of Healthcare That Is Not Being Transformed Digitally, Says AMA Chief Experience Officer

    There Is No Aspect of Healthcare That Is Not Being Transformed Digitally, Says AMA Chief Experience Officer

    “A lot of times it’s better to think about (digital transformation) in retrospect after you’ve gotten something done, but the digital platform is essential in helping you achieve your business objectives, and that’s really what it boils down to,” says AMA Chief Experience Officer Todd Unger. “Even though my purview here is mostly communicating between us and physicians, ultimately, I’m there to help them in what they care the most about, which is patient care. There is no aspect of healthcare right now that is not being transformed digitally.”

    Todd Unger, Chief Experience Officer for the American Medical Association, discusses how digital transformation is ultimately about improving patient care in a video interview (watch below) with industry analyst Michael Krigsman on CXOTALK:

    I Don’t Start Anything That I Do With Digital Blinders On

    I don’t start anything that I do with digital blinders on. The first thing is to figure out what the job that you’re trying to get done is. Inevitably, of course, these days, if you’re trying to meet people where they are, that does involve digital platforms. We are, in essence, like any other subscription business in that we have something that we’re trying to get people to belong to. If you’re going to communicate with people and build a subscription business, you do need to have that platform in place.

    I think, basically, today, most organizations or businesses, they have to act in three ways. They’ve got to have the consumer product focus of a company like Proctor & Gamble. They need to have the publishing experience and content management experience of a New York Times or Washington Post, and they need to have the data and analytics platform and skillset of like an Amazon. That’s a tough organization to build these days. But if you’re going to succeed in creating a member experience and really interacting with people, you’ve got to be able to do all three things.

    There Is No Aspect of Healthcare That Is Not Being Transformed Digitally

    I think digital transformation is a bizarre and scary term. I don’t walk in the door saying, “We need to have a digital transformation,” because that is really kind of meaningless to people. A lot of times I would say it’s better to think about that in retrospect after you’ve gotten something done, but the digital platform is essential in helping you achieve your business objectives, and that’s really what it boils down to. 

    Even though my purview here is mostly communicating between us and physicians, ultimately, I’m there to help them in what they care the most about, which is patient care. There is no aspect of healthcare right now that is not being transformed digitally. One of the most exciting places, and I think it probably has more relevance on the long-term care side, is remote patient monitoring. You look around at most systems and they’re equipping themselves to have people not come to the hospital, not come into the office, but to provide people with the technology to be able to do what they need to do from home and to be able to communicate with them from a remote place and have their progress monitored.

    Driving The Future of Medicine

    I’d say the final way that we (are an ally in patient care) is through something I don’t think a lot of people know about, which is driving the future of medicine. We are facilitating the changes that are happening in medicine right now. I talked about remote patient monitoring, but telemedicine is something that’s increasing in usage and all of the infrastructure that underlies that needs to get put into place to make sure that doctors have what they need to be able to do that and, from a technology payment standpoint, all of that kind of stuff.

    The other thing and this is affecting every aspect of business out there is data. One of the key things about data right now in healthcare is, it’s not necessarily hooked up in a way that can connect the input when a patient comes in the door and the outcomes. There are different systems that underly that data input and the portability of that. We are putting in place an infrastructure and what we would call an innovation ecosystem to facilitate the flow of that data so that it can actually deliver better patient care in the end.

    There Is No Aspect of Healthcare That Is Not Being Transformed Digitally – AMA Chief Experience Officer Todd Unger
  • Digital Transformation: The Conversation Has Shifted, Says ServiceNow CEO

    Digital Transformation: The Conversation Has Shifted, Says ServiceNow CEO

    “We’re done with talking about if it is a good idea to digitally transform,” says ServiceNow CEO Bill McDermott. “Now the conversation has shifted to how quickly can you get me there. I have to get there really fast. My prediction is that companies that are digital, that can lead this digital transformation revolution, will prosper through this time because there are so many public sector and private sector entities that must change. I do believe we will be going into a totally new normal.”

    Bill McDermott, CEO of ServiceNow, discusses how COVID-19 has forced CEOs to speed up digital transformation in order to compete and win. McDermott says that businesses have to have an all-weather workforce to win.”

    We’re Done With Talking About If It’s a Good Idea

    When we came out of the financial crisis in 2008 that is when cloud computing hit a new gear. That’s when it became the pervasive computing theme of the 21st century. The elasticity of the cloud, the ability to build applications very quickly on a platform like ServiceNow’s⎯so you can be in service, in service to employees, in service to customers, and in service to keeping the operation going, even through difficult times. if you think about digital transformation, it’s a $7.4 trillion addressable market in the next four years. 

    I talk to CEOs and heads of state every day. We’re done with talking about if it is a good idea to digitally transform. Now the conversation has shifted to how quickly can you get me there. I have to get there really fast. My prediction is that companies that are digital, that can lead this digital transformation revolution, will prosper through this time because there are so many public sector and private sector entities that must change. I do believe we will be going into a totally new normal. It’s not dissimilar to 2008. We’re going to have to figure out whether it’s three weeks from now or three months from now. 

    A Totally New Way To Work

    How are you going to get back to work? Business continuity must contain. Think about all the processes that will have to change. I like to think of this as a physical distancing, not a social distancing because our processes on Zoom every day has us connected to the management team and the people throughout our company. So while we are physically distant we have socially kept the conversation going. We’re continuing to pursue our goals because that’s what the world needs from ServiceNow.

    Customers right now are basically saying, how do I take care of my people? For example, I’ve heard from some very outstanding CEO saying we’re going to keep hiring or am certainly not going to lay people off. How do we get the tools for people to do the job remotely? How do we make that happen? How do we make sure we’re caring for the people? How do we align them with the goals and the orientations of the company? How do we keep compliance and security at a high level even as they work from places like home or studio environments where they’re not used to working? All of this has to be done utilizing a digital platform, a totally new way of working. 

    What About the Customer?

    Here’s a really big thing. In the beginning, everybody was saying we’re going to work from home. We will close down operations and that was basically it. What about the customer? What we’re learning about the customer is right now they’re not really interested in you upselling them and cross-selling them in an engagement layer of CRM. What they are interested in is business continuity. How will you service me even as we’re in the midst of a crisis? 

    This idea of service management, of making sure you get the right assets in front of the right problems where you can resolve issues for customers⎯especially since they’re no longer working in their offices for the most part. It has really reoriented the workflow of companies all over the world and it’s happened really quickly. 

    Over 43 percent of the companies today actually don’t even have a work from home policy. Think about that. Now, after this crisis, I can assure you they’ll need one and the boards of directors will expect that they have one. If you remember the post 9/11 era, it was unbelievable to think that people would be standing in line to get x-rayed with their luggage before getting on a flight. 

    Digital Transformation Has To Go Faster

    As they think about this new environment just think about the procedures and the protocols that we have to now impart on the workforce to make sure that they’re healthy when they come into these buildings and they actually go to work. We will actually have to have quick analysis. For example, you could do an ear temperature check to make sure someone’s temperature isn’t high when they’re coming into the workplace to keep people safe. That’s a protocol, that’s a new process, and I expect that things like that will definitely happen.

     I also expect that workers will work more from home, that people will be more agile and flexible in how they work, and the tools and the platforms of digital have to be enabled to make that happen, So here it is, people that are digitally transforming now, you have got to go faster. People that haven’t actually embarked upon this journey, you need to do it now. Now is when your people will expect you to build a culture that enables them to prosper in any working environment. I have to believe we’re in a new norm. If it’s not COVID-19 it’s going to be something else. Workforces have to be prepared to handle anything. We have to be an all-weather workforce to win.

    Digital Transformation: The Conversation Has Shifted – ServiceNow CEO Bill McDermott
  • New AI-Powered Email Capabilities Released Into Salesforce Marketing Cloud

    New AI-Powered Email Capabilities Released Into Salesforce Marketing Cloud

    “We’re making email marketing even smarter with a set of new AI capabilities getting released into Salesforce Marketing Cloud,” says Salesforce VP Armita Peymandoust. “One of them is Einstein Engagement Frequency. The other one is Einstein Send Time Optimization. We also have Einstein Content Tagging out and available today to our customers. Email is definitely not dead. Even the Millennials say that.”

    Armita Peymandoust, VP Product Management, Analytics, and Einstein at Salesforce, discusses new AI-powered email features for Marketing Cloud announced by Salesforce at Connections 19:

    AI-Powered Email Capabilities Released Into Salesforce Marketing Cloud

    As we know email is still a really important channel. Over 64 percent of customers are still saying that they prefer email channels to all the others. What we’re doing is we’re making email marketing even smarter with a set of new AI capabilities getting released into Salesforce Marketing Cloud. One of them is Einstein Engagement Frequency. The other one is Einstein Send Time Optimization. We also have Einstein Content Tagging out and available today to our customers. Email is definitely not dead. Even the Millennials say that.

    Einstein Engagement Frequency

    With Einstein Engagement Frequency we’re trying to tell the marketer what’s the sweet range that they should keep on engaging with their customers. As marketers, we want to keep on engaging with our customers but we just don’t want to get to a point that we’re potentially annoying them. So we are telling them that this is the range that you should stay in.

    Einstein Send Time Optimization

    Now that the marketer knows what the frequency of engagement should be, with Einstein Send Time Optimization we’re also telling them what is the right time to send those messages. It’s really easy with a drag and drop of an activity into Journey Builder we make every message go out at the right time for the customers.

    Einstein Content Tagging

    Then with Einstein Content Tagging, we’re basically bringing image recognition the same set of AI capabilities that you’re familiar with for your customer based or consumer based products. This is where you upload photos and then they automatically get tagged. We are bringing that same technology to the hand of the marketer. Every image that’s getting uploaded into Content Builder gets automatically tagged so they can find it later and use it when they’re building their messages.

    Transactional Messaging

    We’re also releasing Transactional API’s for Emails and SMS. There are different types of emails out there. There’s the commercial one and there’s the transactional one. It allows the marketer to bring both of those two in an inter-marketing cloud and take advantage of Marketing Cloud to send those emails to have the same voice, the same brand voice, and also be able to see how those are performing all in one place.

    Indiana Pacers Improved Customer Engagements By 20 Percent

    These features are all relatively new. So we have pilot customers that have been taking advantage of them. We have one retailer that talked about Einstein Engagement Frequency. They had a hunch that they were over messaging customers but they couldn’t really put their finger on it. With Einstein Engagement Frequency we could show them visually exactly where they’re over engaging with their customers and let them take action on it. The platform automatically created lists so that they would not send messages to the ones that are getting too many email messages.

    We’ve had a set of AI features in Marketing Cloud, specifically Einstein Engagement Scores, was one that the NBA’s Indiana Pacers is taking advantage of, to increase the engagement rate that they’re having with their fans. They got a 20 percent increase in engagements with their fans using that.

    Customer Engagement Getting Even More Granular

    We have a jam-packed roadmap for the next of the rest of the year as well. One of the things that I’m really excited about is Content Selection that’s coming out. Content Selection lets each of those messages that we’re creating be dynamically optimized for every customer that’s receiving them. Think of your email as a template that has different aspects or different selections in it that gets automatically replaced with what your customer cares about most and also what they have engaged with most and historically. It’s very engaging for every one of your customers.

    The other one that I’m interested in (that is coming later) is bringing natural language processing to understanding your subject lines. What types of subject lines are resonating? Why is it that they’re resonating with your customers? It will give you an insight on them first and then also give you recommendations on how to improve your subject lines.

    https://youtu.be/oaH_OrquEcE
    New AI-Powered Email Capabilities Released Into Salesforce Marketing Cloud
  • How To Track Your Customer Journeys in Real-Time to Empower Your Sales Team

    How To Track Your Customer Journeys in Real-Time to Empower Your Sales Team

    The four pillars of measuring marketing ROI are key to improving sales says Jonathan Rowe, Chief Marketing Officer at nCino. “It’s really understanding your costs specific to the activities you are doing in marketing, tying those activities to your sales opportunities, and then measuring results.”

    Rowe says that taking in data on sales prospects and making it available to salespeople can drive results: “When you are bringing all of the data into one real-time place, then you can start empowering salespeople to use the data. You can track your customer journeys in real-time.”

    Jonathan Rowe, Chief Marketing Officer at nCino, discusses how to use data to track and improve marketing ROI in an interview with James Carbary, the founder of Sweet Fish Media on the B2B Growth Podcast:

    The Four Pillars of Measuring Marketing ROI

    Knowing Your Costs

    There are four variables that we use to measure ROI that have proven very successful for us. It starts with your costs. Whether it’s headcount costs where you are investing in people, whether it’s the cost of investing in PR, whether you are doing webinars or podcasts, whether you are advertising, etc., it’s really making sure that you have a good understanding of here’s where I’m actually spending my money and how much. So it starts with your costs.

    Identifying Marketing Activities

    The next step from there is here are all the different activities that we are spending money on. It’s advertising, attending conferences, or doing podcasts. Here are the activities. You have your costs and you have your activities.

    Connecting Activities to Sales Opportunities

    Then the next big step is connecting those activities to actual sales opportunities. As a B2B marketing organization at nCino, we are selling and marketing to banks. Whenever we initiate a conversation with a financial institution it often takes us 9-12 months from that initial interaction to hopefully when they become a nCino customer.

    Over that 12 months, there are hopefully going to be a lot of different marketing activities where that bank and different individuals at the bank interact with nCino. We want to be able to capture that information. So we take the activities that we are doing and we actually connect them to a specific sales opportunity at the financial institution and the individual at the financial institution.

    ROI: Measuring Results

    The fourth pillar is the results, where we actually turn that prospect into a nCino customer. Then we can say that marketing played this role. At the end of the day, we are in a business where it’s more than marketing. We have sales groups and others involved.

    When we sign a financial institution to become a nCino customer I’m always very proud to say here are all the different marketing activities (that led to the sale). Whether it’s white papers and thought leadership or press releases or attending a conference in a booth, how all those activities played an influential role.

    It’s really understanding your costs specific to the activities you are doing in marketing, tying those activities to your sales opportunities, and then measuring results.

    You Have to Be Committed to Data Analytics

    One, you have to really be committed to data analytics. You want to have that marketing driven organization knowing it’s going to take time and costs to get there. Then two, you want to make smart decisions around the technology you use because connecting all of the dots around your data is probably the most important thing. I want to be able to go onto two or three systems which are what we have at nCino and be able to look and see all that data together.

    I can see, for example, that Mary who works at a financial institution that we are talking to was on our website yesterday, that she looked at all of these different pages, that she spent seven or eight minutes on each page, and she actually downloaded one of our whitepapers. Then I find out that we are going to see Mary at a banking conference that we are going to in a few weeks.

    With all of that automation, I know that the salesperson will log in and see all of that information on the financial institution and Mary.

    Track You Customer Journeys in Real-Time

    That sales rep will have literally on their phone before they have that face to face conversation at the conference all of Mary’s interactions. Some things you probably don’t want to tell Mary, which is hey, by the way, we’ve been tracking all of your website activity on the nCino website. But what you can have is a conversation around the fact that she downloaded our artificial intelligence whitepaper around banking and you can talk about that.

    When you have fewer systems and you’ve made the commitment and you’ve gotten to the place where you are bringing all of the data into one real-time place, then you can start empowering people to use the data. You can track your customer journeys in real-time.

    >> Listen to the complete B2B Growth podcast interview.

  • Sparrho CEO: Using Augmented Intelligence to Build Trust in Brands

    Sparrho CEO: Using Augmented Intelligence to Build Trust in Brands

    Many companies are working to build authentic and trusted brands with consumers. This is especially true with pharmaceuticals, biotech, and med-tech companies. The CEO of Sparrho, Dr. Vivian Chan, says that their approach combines artificial intelligence and 400,000 Ph.D.’s to deliver scientific data to companies. This data helps companies back up their marketing messages which enables them to more effectively build that vital trust with their customers.

    Dr. Vivian Chan, Sparrho CEO, recently discussed on CNBC their unique hybrid AI approach to helping companies use science and information to back up their brands messaging:

    AI Enables Humans to Make Better-Informed Decisions

    Artificial intelligence is really about algorithms and how we can use data that we collect to enable humans to make better-informed decisions. I not at all about having computers make decisions on behalf of humans. In a way, I think it’s machines that will be helping evolve the tasks and not actually replacing the human roles. Human roles themselves will be evolving also as the technology improves. This allows humans to have more headspace to be thinking about things that machines can’t do right now.

    Machines can’t necessarily summarize a lot of pieces of contextual analysis very well yet to a 100 percent accuracy and humans are still better at making nonlinear connection points. For example, being able to say that this mathematical equation is super relevant to an agricultural problem. If we don’t have the tagging and reference and citations humans are still better at making those nonlinear new connection points than machines.

    Humans are still good at coming up with the questions. If you actually pose the right question and you train the data and the algorithms you might actually get the right answer. However, you still need to have the humans to be thinking about what the questions are in order to ultimately get the answers.

    It’s About Using AI as a Means to an End

    I  think the angle is really thinking about using AI as a means to an end and not just the end. Ultimately, this is a hybrid approach and various different people are calling it differently. Even MIT professors are calling it a hybrid approach. We’re calling it augmented intelligence. We need to come up with a good relationship between humans and machines. Marketing is about building relationships. It’s about building relationships between brands and consumers and now how do we build that relationship digitally?

    Using Science to Build an Authenticated Brand

    In this digital age, consumers are a lot more tech savvy but are also information savvy. They want to know what the is science behind certain things. Even if you’re talking about CPG, consumer packaged goods, what is the science behind a shampoo product right now when it claims 98 percent prevention of hair loss? What is the real science behind that and how do we actually bring that simplified science-oriented message to the consumer? How can consumers educate themselves and make informed decisions based on the products and thereby build a stronger brand relationship?

    Ultimately what we’re trying to do at Sparrow is simplify science to build trust in brands. Especially for marketing departments and brands, it’s really allowing them to have the evidence-based science and the facts because building a very authenticated brand is what is meaningful to consumers. Research says that about 71 percent of consumers immediately reject content that looks like a sales pitch. Building a relationship and having an authenticated brand and content is super important in building that relationship between brand and consumers.

    Sparrho Provides Content as a Service On Demand

    We’re going even wider with that by providing what we call content as a service or relevant content on demand. We then integrate that into the digital platforms or the brands. We have what we call augmented intelligence with over 16 million pieces of content that is augmented by a network of more than 400,000 monthly active PhDs in a150 countries. They curate and summarize what’s actually happening in the latest of science.

    We know that in about 60 percent of pharmaceuticals, biotech, and even med-tech companies, are spending more than $50 million per year just in content. Content has been the major driver for a lot of their marketing. In pharmaceuticals, they’re trying to really bring that relationship that they have offline to online. It’s at the heart of this digital transformation age that we are going through. This is really helping bring that relationship online by using the right engaging content. Our goal with Sparrow is to drive more engagement and ultimately more sales.

  • Will the Coronavirus Spark a New Era for Business?

    Will the Coronavirus Spark a New Era for Business?

    Andy Kessler, a technology writer for the Wall Street Journal, suggests that similar to other world crises events, the coronavirus could spark a new era for business and the world. Notably, will the advent of millions of new people suddenly working remotely from home and being educated online become the norm once the fear and facts of the virus fade?

    “Eras change, sometimes overnight,” writes Kessler. “Classes will be online-only until further notice. Smart. But at some point parents will surely ask, “Why again are we paying 78 grand a year?” Is the end of universities far behind?”

    Kessler adds, “Similarly, lots of companies are telling employees to work at home. Will an era of telecommuting and no rush-hour traffic finally arrive?”

    If people and businesses experience how easy and less expensive it is to work from home using Slack, Zoom, and countless office productivity tools, then why not keep doing it after the crisis subsides?

    Slack CEO, Stuart Butterfield, recently noted how the coronavirus is impacting the growth of new executives finally embracing online conversation:

    “There are a lot of people who are moving to a remote work or work-from-home situation for the first time. A lot of executives who are struggling to figure out how to manage and maintain operational performance in this kind of environment. They have a lot of questions and a lot of uncertainty. We’ve seen a surge in new teams created and people checking out Slack for the first time.”

    It will be interesting to see how this develops and if the coronavirus will change work and education as we know it.

  • Yesware Founder: Have Sales Conversations that are ‘Authentic at Scale’

    Yesware Founder: Have Sales Conversations that are ‘Authentic at Scale’

    Yesware Founder Matthew Bellows says that it’s important that the relationship between the salesperson and the prospect is authentic, genuine, and honest. That’s why Bellows advocates a sales prospecting concept he calls ‘Authentic at Scale’ which uses Yesware technology to have genuine authentic communications with customers and prospects.

    Matthew Bellows, Founder & Chairman Of The Board at Yesware, recently talked at Web Summit about salespeople being ‘Authentic at Scale’  and how Yesware can help companies and their sales teams more effectively drive lead generation:

    Important for Salespeople to be Authentic

    There’s not only just the business model which is changing the relationship between the salesperson and the prospect but also the fact that information is freely available, that your reputation sticks with you much longer now, and all pushes towards more power to the customer. Therefore, it is more important for a salesperson to be authentic and genuine and honest and a long-term partner for success as opposed to a transactional sort of guy.

    Whether we’re working with a brand new startup who’s just implementing Yesware for there one or two or three person sales team or the CRO of a publicly held company like Twitter or Yelp, salespeople are always changing stuff. They’re always trying to find out a new angle, they’re always moving territories, always changing a training program or changing their comp structure.

    For those of you who have read all the blog post about how you just got to get a repeatable scalable model then pour money on top of it, that is not true. You need to actually continue to iterate and make up stuff and try different experiments with your sales program. That’s the kind of thing that our software tries to enable, basically getting the data from your activities and seeing what works and doing more of that.

    Authentic at Scale is What We Advocate For

    For those of you who are just starting your businesses and getting going, you are faced with a dilemma which is I want to grow really fast. One approach to that is what we call spray-and-pray. Buy a big list, blast out a ton of emails, and hopefully some people respond. If they don’t keep blasting them out. That is a short-term successful strategy with a medium-term disaster. It burns your brand. As a sales person who’s in that organization you’re ruining your reputation potentially for the rest of your life, and obviously in Europe it’s illegal.

    What we advocate for our customers is something we call authentic at scale. Use technology to have genuine authentic communications with customers and prospects in a way that shows that you’re actually paying attention to who they are. You’re recognizing what they need and what they’re interested in and what you can offer or not. But do it at a scale that actually helps you build a business. That’s the binary choice that I think most startups are faced with. You can go either way but authentic at scale is what we advocate for.

    When Building Your Team Incrementally Hire

    In the very early stages, one one of the mistakes I made early very early on was when I got the board approval to hire our first sales team. I was the first sales person for Yesware and then I hired this kid straight out of college who blew up and was amazing. He closed Box on his own and it was sort of like, oh this is great, this is ready to go. I went out and hired eight other sales reps and it was way too many.

    So the big thing I I coach people who are just building their team for the first time is really go two by two by two by two and incrementally hire. Even though you never know if it is the market or the person, at least with that sort of slower incremental sales build you get more feedback and have more time to correct as opposed to going in and hiring a big team all at once.

    We Make Software that Helps Salespeople Make Money

    Yesware is software for sales people. We help sales people communicate better with customers and prospects and we’ve been doing this for about eight years. I started as a SaaS business and still are.

    In the early days, there was very little competition for what we were doing. We were getting a lot of inbound interest from companies that just heard about Yesware. They were like, I gotta try this thing. There was a lot of good word of mouth from the very early adopter kind of companies. Now the market is more mature. We’ve probably crossed the chasm in terms of technology adoption curve and we’re into the early majority and those companies think about things differently and they have a different buying process.

    At the end of the day what it turns out to be is if the end users like your product and if we’re helping the salespeople make more money then we’ve got a business. So my first business plan for Yesware as I explained to our early stage investors was we make software that helps salespeople make more money and they’ll give us some of it and that is sort of still what we’re doing.

    It’s Hard to Know What Makes a Good Lead

    For folks out there who are reading blog posts and just getting your company started it’s harder than it looks. When you read the thing about Arg or whatever, it’s hard to know what makes a good lead. You have to keep revising it. We just did a big data science project to try to figure out of the 2,000 leads that closed in the last 18 months, which were good leads? We had a data scientist work on this problem for three months to figure it out because it’s not obvious what a good lead is actually. You’re going to be frustrated but know that everyone else is frustrated with you.

    I think the most important thing is just to get your motivations right. Be clear about why you’re doing this because it’s a long slog and the clearer you can be about why you’re doing this project the more effective you can be when you’re talking to other people about why they should do it too.

  • Slack Helping Companies With Historic (Coronavirus) Shift To Remote Work

    Slack Helping Companies With Historic (Coronavirus) Shift To Remote Work

    “Happy Friday the 13th,” says Slack CEO Stewart Butterfield in referencing the coronavirus impact on the stock market. “There are a lot of people who are moving to a remote work or work-from-home situation for the first time. A lot of executives who are struggling to figure out how to manage and maintain operational performance in this kind of environment. They have a lot of questions and a lot of uncertainty. We’ve seen a surge in new teams created and people checking out Slack for the first time.”

    Stewart Butterfield, CEO of Slack, discusses on CNBC the historic move to remote work by organisations large and small in response to the coronavirus. Butterfield says that this may have a lingering impact on businesses opting for more remote options and with up-leveling communications:

    Slack Coronavirus Response: “This Is Our Moment To Help”

    Happy Friday the 13th from the first growth company CEO to have to report into what was a pretty apocalyptic day on the markets. We’re seeing a lot from all different kinds of customers. We have 110,000 customers, SMEs, large enterprise, government, academic, and nonprofit. There are a lot of people who are moving to a remote work or work from home situation for the first time. A lot of executives who are struggling to figure out how to manage and maintain operational performance in this kind of environment. They have a lot of questions and a lot of uncertainty. 

    The reaction inside the company has been really fantastic. A lot of energy. I think the employees feel like this is our moment to help. We have a great collection of resources at Slack (Slack Remote). We’ve also scaled up a program to give people one-on-one consultations. Our customer success teams are very active with the enterprise customers. We’re running webinars and giving training. In some sense Slack was built for this. Not specifically for remote work but for up-leveling communications and communications is foundational to that way that business operates. In an environment where you’re suddenly making this transition it’s more important than ever.

    The Crisis Will Have Some Permanent Impact On Business

    I think it will (coronavirus crisis) definitely have some permanent impact. From where we sit today there’s not a lot of visibility into the future. You think about just what it felt like yesterday compared to Wednesday with moments like the Tom Hanks or NBA thing where suddenly the psychology really seems to shift. People start to have a different kind of perception of what the next couple of weeks are going to look like. So looking too far ahead I think is difficult. This will be a lingering factor and have a lasting impact for most organizations.

    I got an email from a CTO last week who had just signed a huge contract with Slack, one of the biggest asset managers in the world. What he said is like hey, just letting you know, we just signed but this is the last PO we will sign before the doors kind of shut. I think you’ll see some clamping down on spending. At the same time we’ve seen a real surge in interest both from existing customers and from new customers. We’ve seen a surge in new teams created and people checking out Slack for the first time. It’s really hard to balance those two.

    We feel great about (our competition with Microsoft Teams). Microsoft Teams has been out for three years now and enough time has passed. I think that’s the reception that we got on it from the analysts last night. This is our third quarter result report as a public company. One of the wins that were proudest of in the last quarter was with Veterans Affairs going to 20,000 users. They run the biggest integrated healthcare system in the United States. You think about the pressure that they’re going to be under with a lot of elderly patients and managing through that kind of crisis. This is in an environment where you’re having people work from home in an environment that’s so dynamic. 

    Leaders Need To Drive Alignment and Agility

    I think about my own experience. Stuff is changing every day. We have 1,300 employees in San Francisco. Just last night school districts said that they’re shutting down all the schools. So people who are already in a situation where they were battling over kitchen table space with their spouse when they’re both working from home and now they are going to have two or three kids in the house as well. That’s not an easy situation to manage. 

    Meanwhile the disruptions of supply chains to the SMEs, restaurants shutting down, travel, that’s going to have downstream impact. It’s such a dynamic environment. Anything that leaders can do and employees can do to help drive kind of alignment and ultimately agility, because they’re in this kind of environment you need to be agile and you need to be responsive.

    Slack Helping Companies With Historic (Coronavirus) Shift To Remote Work