Jun 8, 2021
Growth fueled by the COVID-driven demand for greater productivity and performance out of resource-strapped revenue teams, Conversica launches new conversational solutions to drive better customer engagement and revenue acceleration
FOSTER CITY, Calif., – June 8, 2021 – Conversica, Inc., a leader in Conversational AI solutions for revenue teams that help organizations attract, acquire and grow customers at scale, today announced its quarterly new subscription sales increased 23% since the first quarter of 2020; after a 210% year over year increase in 2020. Mid-year growth looks strong, with new bookings accounting for two-thirds of growth and booking expansions accounted for one-third of growth, attributed to a healthy pipeline of new customer orders as well as continued steady increases in the customer install base. Additionally, Conversica saw the Average Recurring Revenue (ARR) in new bookings grow 37%, indicating traction with mid-market and enterprise organizations such as Kofax, the Los Angeles Chargers, Olympia Entertainment and Therapy Brands who purchased Conversica AI Assistants for Conversational Marketing and Conversational Sales to drive better customer engagement and productivity across marketing and sales to hit their revenue goals.
COVID-19 served as a forcing function for digital transformation in 2020. As a result, businesses quickly pivoted from traditional go-to-market strategies to now conducting business 100% online. As a result, revenue-generating teams had to adjust to new ways of serving customers and selling products to reach buyers whose only option is to engage digitally.
According to Gartner, “By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.” [1] This resonates with the shift in B2B buyers where 60% of all technology buyers are now Gen-Y or Millennials (ages 25 – 40), shifting the buying power from Gen-X to Gen-Y who are 100% digitally native.
Separately, a report by McKinsey & Company showed that B2B buyers are not hesitant to transact those strategic technology purchases online. “Notably, 70% of B2B decision-makers say they are open to making new, fully self-serve or remote purchases over $50,000, and 27% would spend more than $500,000.”
“In B2B, the buyer is most often part of a team working together to solve a problem. Enabling these buying entities in increasingly complex decision-making scenarios requires selling organizations to sense and respond to buying signals in real-time,” said Jessie Johnson, Principal Analyst at Forrester. “AI is the only way to connect and contextualize these buyer interactions with precision and scale. Conversational AI for marketing and sales is a great example of using AI to drive personalized customer engagement at scale.”
B2B has benefited from earlier B2C digital experience innovation. Furthermore, “Gartner predicts that by 2024, 80% of ordering and replenishment will be touchless for most organizations”. [2] Contactless commerce allows customers to conduct buying activities without touching public structures or hardware, along with not getting in close contact with another person. AI, of course, will be pivotal to realizing contactless B2C experiences at scale.
Conversica augments people power with Conversational AI solutions to scale workforce productivity and improve operational efficiencies, with the end goal to drive top-line revenue. Conversica is the only vendor to provide Conversational AI solutions across the entire customer revenue lifecycle, offering the following:
“We are providing our customers with AI-based conversational applications they need to succeed in an increasingly challenging digitally native market. The strategy we put in place last year—to focus on mid-market and enterprise businesses—is paying off in dividends,” Jim Kaskade, CEO of Conversica. “For the remainder of 2021, we are investing significantly in mid-market and enterprise go-to-market functions and targeting mature companies that value Conversational AI for Marketing, Sales, Customer Success, and Commerce at digital scale.”
About Conversica Conversica is the leading provider of Conversational AI solutions that help enterprise marketing, sales, and customer success teams attract, acquire and grow customers at scale across the customer revenue lifecycle. Conversica AI Assistants serve as digital team members and autonomously engage prospects, customers, or partners in human-like, two-way interactions at scale to drive towards the next best action, whether that’s scheduling a sales meeting, gauging interest to buy additional products or services, or politely but persistently collecting overdue payments.
Processing over a billion interactions, the Conversica Conversational AI platform integrates natural language processing (NLU & NLG), decision & policy management, business process automation and deep learning capabilities to drive customer engagement across multiple digital communication channels and languages. The Conversica platform supports over 50 integrations into the most popular MAP and CRM platforms and offers an open API for custom integration.
To learn more, visit conversica.com and follow the company on Twitter, LinkedIn and Facebook. [1] Gartner, ‘The Future of Sales in 2025: A Gartner Trend Insight Report’, Tad Travis, Cristina Gomez, Michele Buckley 8 September 2020 [2] Gartner Press Release, “Gartner Identifies Top Five Areas in Digital Commerce that COVID-19 Will Change”, 8 October 2020 (https://www.gartner.com/en/newsroom/press-releases/2020-10-08-gartner-identifies-top-five-areas-in-digital-commerce-that-covid-19-will-change)
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Conversica Media Contacts:
Suzanne Block, on behalf of Conversica [email protected]