The Chinese Leader in Customer Engagement Solutions Expecting 50% Y-o-Y Revenue Growth in 2021
Gone are the days when customers had only one way of contacting a company and companies just waited for the customers to reach out to them. Dialing into help centers with long wait times for assistance and passively responding to client’s needs represent an outdated model that can harm a business’s reputation.
Instead, the customer engagement industry is increasingly incorporating artificial intelligence (AI), software-as-a-service (SaaS) and other digitalization solutions to cut costs, improve client relations and prolong a client’s life cycle. Additionally, the COVID-19 pandemic has reshaped the way organizations operate and the way consumers engage. The pandemic has been an adoption catalyst for SaaS, eCommerce, digital transformation, messaging, among other customer software technologies. COVID-19 has transformed consumers to become more digital using digital channels (mobile, apps, automation, social media) to connect with brands, which are driving organizations to adopt more customer applications to better serve, understand, and monetize its end-market. Industry analysis suggests customer software is the largest applications market and therefore offers numerous attractive wealth creation opportunities for the most innovative SaaS suppliers in the categories.
Infobird (NASDAQ: IFBD) is a leader in this field. The SaaS company provides innovative, AI-powered customer engagement solutions in China - where the SaaS market is expected to hit $6.9 billion by 2022.
What is Infobird?
Infobird offers all-encompassing software solutions for companies looking to optimize their end-to-end customer experience. Infobird makes it possible to manage every stage of the customer journey. This includes all aspects of engagement, beginning from pre-sales support to post-sales relationship management.
Businesses can make use of Infobird’s data-driven telemarketing strategies to filter and target the best leads by incorporating a predictive dialing robot, which can automatically dial out phone numbers and only transfer the connected phones to the next available agents. The result is greater efficiency and more successful closings.
Infobird’s AI-powered customer engagement solutions are available across multiple different channels, including cloud-based call centers, WeChat, Weibo, webpage, APP, mail, message, SMS and more. They also offer a 24/7, voice and text-activated chatbot.
There are even tools for sales and customer support representatives. Businesses can use Infobird’s intelligent quality inspection tool to inspect 100% of the engagement process with customers from multiple aspects such as compliance level, business flow and customers’ attitude toward the service. It can also empower the managers to better monitor and benchmark the performances of each agent. Businesses will benefit from team performance tracking tools and AI-driven, interactive intelligent training tool which can simulate real-life interaction experiences.
Infobird focuses on businesses within the finance, retail and healthcare sectors. Their solutions are standardized but also customizable – while remaining stable, efficient and secure on a larger scale. In fact, Infobird has achieved success in both their customized and standardized systems.
Customized SaaS vs. Standardized SaaS: How Infobird Excels at Both
Many businesses put the emphasis on customizable systems because they believe personalized solutions fare better. However, this isn't always the case. While customizable software maintains unique benefits, it can also pose significant challenges that interfere with scaling and growth. On the other hand, standardized systems deploy much faster and allow for greater efficiency.
Infobird has witnessed first-hand the benefits of standardized systems. Since launching its standardized software, Infobird has been able to attract and propel key players within the retail and healthcare industry - where rapid scaling is critical.
Investing in the Chinese SaaS Industry with Infobird
Industry reports suggest the global software as a service (saas) market is expected to grow from $225.6 billion in 2020 to $272.49 billion in 2021 at a compound annual growth rate (CAGR) of 20.8%.The market is expected to reach $436.9 billion in 2025 at a CAGR of 12.5%. Major global companies operating in this market include Salesforce (NYSE: CRM), ServiceNow (NYSE: NOW), to smaller emerging players like Zendesk (Nasdaq: ZEN) and LivePerson (Nasdaq: LPSN). Infobird is a publicly-traded Nasdaq-listed company based in Beijing and one of the fastest-growing SaaS providers in this sector. Infobird expects solid growth via its platform suite of software offerings, a shift toward standardized SaaS implementations, good sales execution, and because COVID has accelerated the demand for digital customer service engagement technologies. Based on this momentum, Infobird is forecasting a 50% increase in revenue for 2021 compared to 2020. They are currently operating in the Chinese customer engagement solutions market and increasingly targeting expanding opportunities throughout Asia.
You can view Infobird’s stock updates and financial information here.
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