Demand for Customer Insights Accelerates Growth for Topbox
Topbox signs on leading brands in record third quarter, underscoring importance of omnichannel CX analytics in meeting customer expectations
Topbox, makers of enterprise customer experience analytics software, announced continued accelerating growth in 2020, driven by market demand, significant customer wins, and expanded use of its solution across its entire customer base.
“As brands adapt to rapidly changing consumer expectations this year, the ability to understand and anticipate customer behaviors, and make informed decisions quickly based on feedback from organic customer conversations, is essential to redefining and rebuilding customer experiences,” said Topbox CEO Chris Tranquill. “Topbox remains committed to helping our customers forge stronger ties with their consumers, and the accelerated growth we’ve experienced this year is proof that CX teams are seeking other sources of customer insights beyond traditional feedback from surveys.”
Q3 Customer Highlights
Topbox Q3 2020 bookings nearly doubled over Q3 2019 as a result of both aggressive new customer acquisition and record-breaking customer expansion. New customers included a global leader in healthcare services and logistics; a leading cruelty-free cosmetics brand; a global provider of insurance, annuities and employee benefit programs; a global consumer credit reporting agency; the global leader in the pool and wellness industry; and the largest operator of membership warehouse clubs in Central America and the Caribbean.
In 2020 many existing Topbox customers also increased the number of communication channels they analyze in the platform, bringing the average per account to five channels ranging from chat and voice to social interactions and third-party product reviews. Finally, since COVID-19 measures began in March, the company has seen platform usage increase over 200 percent.
Product Enhancements and Recognition
Earlier this year, Topbox announced enhancements to its Enterprise CX Analytics platform including the introduction of Brand Experience Score (BXS), an executive KPI dashboard for customer experience that assesses each customer-impacting business function based on its ability to meet customer expectations. BXS powers a top-down approach to culturalizing CX across the business, by giving the C-suite an organizational scorecard that connects organic customer feedback and insights to executive-level metrics like churn, lost revenue, product performance, and operating costs.
Topbox was recognized as an early stage Consumer Intelligence Solution in Forrester Research’s report, “New Tech: AI-Enabled Consumer Intelligence Solutions, Q2 2020” and as a provider in the Unified Data Analytics primary functionality segment in the “Now Tech: Voice-of the-Customer Vendors, Q1 2020” report. According to the Now Tech report, “Unified data analytics tools help firms aggregate both structured and unstructured data from multiple data sources into a unified view and then analyze the data.”
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Go Beyond Surveys for CX Insight
Traditional customer feedback techniques, such as surveys, take days and weeks to extract results and intelligence. At a time when conditions can change from hour to hour, that can be far too long to deliver useful perspective. Companies leverage Topbox to quickly understand changing brand perceptions, identify and resolve friction along the customer journey, and quickly react to market forces and adjust strategies for improved customer experience.
“Getting decent survey response rates is hard and getting harder for CX professionals because customers have become wary, resigned, annoyed, and indifferent to surveys,” according to Maxi Schmidt, Principal Analyst at Forrester. “To overcome this challenge, you need to go beyond surveys. That means you need to start mining other data that can give you a sense of the quality of the experiences your customers are having.”1
Topbox’s CX analytics platform is used by companies in financial services, retail, on-demand delivery, wireless, broadband, and healthcare industries for customer experience or voice-of-the-customer (VoC) insights. Topbox can aggregate and analyze data from any combination of existing customer communication platforms — voice, chat, email, SMS, product reviews, social media, online forums, surveys, and more — to provide customer insights that are specific and detailed enough to be immediately actionable.
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