How Contentsquare humanizes CX interactions with digital expertise analytics

The pandemic-induced digitization of all the pieces is a pattern that’s been properly documented on nearly each media website. Companies needed to shut their doorways and discover a completely different method of interacting with prospects, and that got here through digital initiatives. Previous to the pandemic, digital transformation was one thing most firms had been contemplating. Publish-pandemic, it’s one thing most firms depend on to transact enterprise, present service, and all the pieces else within the buyer lifecycle. 

One of many challenges of constructing the exhausting pivot to digital is the chance of dehumanizing the expertise for the shopper. Web sites typically deal with all prospects the identical or use fundamental demographics to customise content material, however the actuality is persons are all completely different and have distinctive wants and needs. The higher an organization can create a bespoke expertise, the upper the model loyalty. Bespoke is an ongoing, customized expertise that can wow you — however do it to you quietly — each time you step out the door.

Digital expertise analytics supplier Contentsquare has been centered on making the digital world extra human. Prior to now 12 months, the corporate has rolled out quite a few key new options, together with AI capabilities and a cookieless resolution, acquired two firms, opened quite a few new places of work globally, and employed 700 individuals. The corporate now has 1,500 staff. 

Just lately, Contentsquare announced its subsequent development funding spherical, which consists of a $400 million sequence F venture-backed spherical and a $200 million line of debt financing, led by Sixth Road, a PE agency that’s accomplished investments in firms together with Airbnb, Spotify, SnapLogic, Wind Energy and sports activities groups Actual Madrid and the San Antonio Spurs. This brings the corporate’s whole funding to $1.4 billion over the six rounds, inclusive of the debt. 

Pandemic hasn’t harm Contentsquare

One of many notable elements of the spherical is Contentsquare’s valuation of $5.6 billion, which is double from a 12 months in the past — a testomony to the expansion of the corporate and the vital market want and alternative. Our shock has much less to do with Contentsquare and extra to do with the general macro and valuation of publicly traded firms. The monetary markets have seen lots of the high-flying pandemic-related firms see their market caps reduce by as a lot as 90% whereas Contentsquare has doubled. 

This highlights a number of key factors. The primary is the extreme focus companies have on bettering digital interactions is just not a pandemic bubble, however relatively one thing that can create long-term market management for firms that do it proper. Whereas buyers have bailed on many “work-from-home”-types of firms, they appear to be rising investments in firms which have a direct influence on buyer expertise. This additionally validates Contentsquare’s management on this area. 

Digital expertise analytics is a comparatively new market and there’s no de facto chief, corresponding to Salesforce in CRM. Contentsquare has used its earlier funding rounds to rapidly add new capabilities each organically and inorganically to create an expertise platform that not solely collects and analyzes information, but additionally offers actionable insights. 

“It’s not sufficient in immediately’s digital surroundings to evaluate success purely on conventional KPIs, like clicks or conversions,” stated Contentsquare CMO Niki Corridor. “Right now, understanding intent, frustrations, delight – all of that issues and creates worth to model and prospects alike. Surfacing perception that represents the end-to-end buyer expertise empowers manufacturers to make significant selections and take intentional motion, enhance in actual time and, if utilizing Contentsquare, do all of it whereas sustaining the best ranges of privateness and belief.”    

Aiming to turn into a ‘one-stop store’

We’re nonetheless within the early innings of this expertise, and we think about Contentsquare will use a lot of the funding spherical to quickly develop its buyer base and proceed making vital headway on the $34 billion whole addressable market. It presently has greater than 1,000 enterprise prospects, however that’s nonetheless a small piece of the general pie. Proper now, successful offers is extra of a land seize, and that requires investments in advertising and marketing, gross sales and extra native presence globally. 

We additionally count on the corporate to proceed to develop its platform capabilities to be a real “one-stop store.” The corporate has a five-product technique for its platform that features analytics for analyzing buyer journey and content material, optimizing cell apps, discovering and fixing floor errors and cargo instances, understanding product merchandising and pricing analytics, and suggestions for benchmarking and scoring. All of those merchandise might help companies create an expertise that’s distinctive to every particular person. 

Digital is actually the popular method ahead for many prospects, however manufacturers must watch out to not over-digitize experiences the place customers imagine their wants will not be being met. Contentsquare has performed a wonderful job of assembly the wants of its prospects. Proof of that is its development and funding. With this spherical, we count on to see the corporate step on the fuel and speed up what’s doable with digital experiences.