Quiq Raises 12.5 Million In Series B To Help Companies Orchestrate Commerce And Service Conversations

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Quiq helps brands present their customers with consistently jaw-dropping customer experiences across SMS/text messaging, rich messaging, web chat, and social channels. With Quiq’s Conversational Engagement Platform, companies can easily orchestrate commerce and service conversations involving both bots and humans. Below is our recent interview with Danielle Wanderer, CMO at Quiq:

Q: Can you tell us something more about your technology?

A: At the most basic level, Quiq’s technology allows consumers to engage in 2-way messaging or chat with a company instead of having to call or email. Messaging with our family and friends is the norm these days. Why not do the same with companies? It is faster and more convenient to message than to find the time to call a company or email them. We love helping companies be more accessible to their consumers over today’s preferred channel.

Q: You’ve recently raised $12.5m in Series B round; could you tell us something more?

A: We are very excited about this latest investment. It reinforces the vision of messaging becoming the dominant channel for consumers. With this investment, we will be expanding the realm of messaging from just sending and receiving messages to transacting business. Some of our clients are already securely handling product questions and converting those leads into buyers – all in messaging.

In addition, we are working hard to leveraging the data from conversations that have already occured between a company’s agents and their customers. Quiq will learn and apply intelligence to help companies handle customer interactions more efficiently than ever before.

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Q: Can you give us insights into your features?

A: Quiq’s messaging solution includes robust and asynchronous Web Chat, as well as support for multiple messaging platforms including: SMS/text, Apple Business Chat, Google Rich Messaging, Facebook Messenger, Twitter Direct Message, and more. But it isn’t just about transmitting a text message or chat between two people. Anyone can do that. Quiq manages customer and company conversations at scale. This requires an easy-to-use interface for agents and managers, as well as a robust infrastructure to manage conversations at scale. Some features to highlight include:

  • Ability to engage in two-way (inbound and outbound) conversations across multiple channels,
  • Rich messaging via Apple Business Chat and Google Rich Messaging for more robust interactions that can go even handle scheduling and secure payments,
  • Ability to incorporate Quiq bots or 3rd-party bots (or any combination) and humans/agents into any conversation,
  • An agent desktop that automatically prioritizes multiple conversations from multiple channels based on the interaction pace of the customer,
  • Routing and queuing to ensure incoming conversations get to the right team or person,
  • Ability to transfer a conversation to another person and/or collaborate with another person to best help the customer,
  • Robust real-time and historical insight into customer interactions and agent performance,
  • An open and standard API with pre-built integrations right into the desktop of CRM systems like Salesforce.com, Oracle, and Zendesk, and
  • A strong focus on overall security with SOC II Type 1 compliance.

Q: How businesses can benefit from digital transformation?

A: If you ask our customers, this is what they will say:

  • Cost-effective channel
  • Customer friendly
  • Easy integration into our CRM application
  • Customers love it, agents love it
  • Fastest growing contact channel

It is fairly well known that it costs a company more to handle a phone call from a customer than any other channel – not to mention, you can only handle 1 conversation at a time. When you introduce digital channels like chat and messaging, significant savings get realized. Now agents can handle multiple conversations at once and the cost per conversation plummets. Not only that, it has been proven time and time again that messaging has the highest customer satisfaction score than any other channel available – often double digit percentage points higher.

Let’s take a real-life example. Our B2C clients are seeing a 14-18% shift of inbound phone calls to messaging. Their messaging agents are handling 6-8 conversations at once versus the phone agents handling 1 at a time. What does this mean to them? They are realizing cost savings between $500K to over $1M!

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Q: What does the future hold? Where is the company headed?

A: There is a lot of momentum for messaging because it is less expensive and consumers like it more than any other channel. This will continue to grow with Apple and Google investing in rich messaging capabilities that vendors like us can incorporate into our solutions.

We will continue to power the conversations between customers and companies, and we will expect to offer the first messaging-based shopping cart. Driving innovation around conversational commerce, essentially the combining of messaging and purchasing, is a focus. Continued investment in bots and AI/machine learning to drive greater efficiencies and better customer experiences is also a key part of our DNA.

Last Updated on August 18, 2019

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