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Clarabridge Forges Ahead with Accelerated Growth in 2020

·4-min read

Pandemic Accelerates Shift to Digital Sales and Customer Service, Highlights Importance of Omnichannel Analytics

Clarabridge, Inc., the leading provider of Customer Experience Management (CEM) solutions for the world’s top brands, experienced accelerated growth, demonstrated adaptability in a changing business environment and continued to develop its mission-critical platform.

In the beginning of the year, Clarabridge was recognized as a Leader in The Forrester Wave™: Customer Feedback Management Platforms, Q1 2020 and The Forrester Wave™: AI-Based Text Analytics Platforms (People Focused), Q2 2020 and is the only vendor in its space to be recognized as a Leader in both reports.

Following the World Health Organization’s declaration of the coronavirus pandemic in March, Clarabridge customers increased their reliance on insights from the contact center, depending less on surveys and expanding their adoption of omnichannel analytics at record rates. This year, Clarabridge:

  • Saw an annual growth rate of 40 percent for its core business and 70 percent for its speech analytics solution;

  • Closed over 25 7-figure deals over the last 12 months

  • Is on track to process more than 170 terabytes of conversation and interaction data, doubling the volume of data processed in 2019; and

  • Implemented its Intelligent Scoring feature, which Clarabridge customers have already used to score 93 million conversations since its early release.

Clarabridge has remained focused on promoting the performance and scalability of its platform and gained new customers in key industry verticals such as healthcare, insurance, retail, banking, ecommerce and the automotive industry. Recently, Clarabridge started working with one of the largest insurance providers in the United States, a leading online supplier of pet supplies, one of the largest Blue Cross Blue Shield licensees in the United States, and one of the top three publishers in the world.

COVID-19 Response

In response to the COVID-19 crisis, Clarabridge created a command center solution that enabled companies to monitor the impact of the pandemic on their customer bases, develop an effective crisis response and respond to customer concerns in an informed and empathetic way. Close to 90 percent of Clarabridge customers adopted the command center solution and collectively ran more than 2.3 million reports on topics related to COVID-19.

"Our company has the most advanced interaction analytics in the industry, and we work with the world's leading brands to make sense of billions of customer interactions," said Clarabridge CEO Mark Bishof. "By offering unmatched insight into the customer experience at a time when surveys were tone deaf and by quickly pivoting to meet the changing needs of businesses today, we continue to provide incredible value for our customers."

Fall Product Release

As part of its fall product release, Clarabridge will be introducing a number of features to help companies drive efficiency, engage with customers and access quick insights. The new Automated Narratives feature utilizes industry-leading natural language understanding (NLU) capabilities to produce call summaries that capture key information about a conversation including why the customer called, resolution status and more. After a call, contact center agents may spend up to 15 minutes writing a summary of the conversation, and this feature will help to eliminate this time-consuming task from agent workflows.

"With the introduction of Automated Narratives, Clarabridge is changing the game when it comes to managing contact center operations," said Bishof. "By leveraging our NLU capabilities to eliminate an extremely time-intensive task, companies can save tens of millions of dollars in operational costs."

Clarabridge is also significantly expanding its library of connectors for chat and CRM systems including Clarabridge Engage, LivePerson, Salesforce, Oracle Service Cloud, Bold360 and Gladly. By analyzing chat data from a wide variety of sources, organizations can assess service quality, evaluate agent and bot performance, uncover engagement trends and deliver a consistent experience across channels.

Clarabridge also recently announced its partnership with Facebook Messenger API and support for Instagram Direct Messenger and Instagram Shops, which enables businesses to engage with their customers on these popular channels. The combination of Clarabridge Analytics and Engage for digital customer service enables companies to analyze and measure quality of service across all interaction channels.

The 2020 fall product release will also include:

  • The ability to detect and analyze emotional intensity and empathy

  • A beautiful new dark mode to match users’ operating system preferences

  • Updated map visualizations that show where improvement is needed (as opposed to where customers are contacting a company from)

  • New network visualizations that provide a clear view of popular discussion topics and how they relate to one another

About Clarabridge

Clarabridge helps the world’s leading brands take a data-driven, customer-focused approach to everything they do. Using AI-powered text and speech analytics, the Clarabridge experience management platform enables brands to extract actionable insights from every customer interaction in order to grow sales, ensure compliance and increase operational efficiencies. For more information, please visit www.clarabridge.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201027005754/en/

Contacts

Media
Abby Lewis
BLASTmedia for Clarabridge
abby@blastmedia.com
317.806.1900 x136