July 26, 2011
Medallia Key Account Experience Offers Industry’s First Customized Solution to Help B2B Companies
Medallia Revenue from B2B Business Grew 347 Percent in First Half of 2011
PALO ALTO, Calif., July 26, 2011 — Medallia, the global leader in software-as-a-service “Customer Experience Management” medallia.com (CEM) solutions, today announced the latest release of its Medallia Key Account Experience product. The solution has already helped many of the world’s largest companies – including Pershing LLC, a BNY Mellon company, Sandvik Coromant, and Steelcase Inc. – achieve significant results.
Medallia’s Key Account Experience product is designed to help global B2B companies manage every step of the relationship with valued customers and addresses the unique demands of B2B customers. It simplifies the complexity of B2B account relationships by rolling up convoluted organizational hierarchies into easy-to-understand views of customers. It saves key accounts, which represent significantly higher value than average B2C accounts, by identifying and helping rescue at-risk customers.
“B2Bs face different customer demands than B2Cs,” said Borge Hald, CEO and co-founder of Medallia. “You can’t ‘force fit’ a ‘one size fits all’ or B2C CEM solution to the needs of B2Bs. That’s why we tailored Medallia Key Account Experience to speak B2B.”
Key Capabilities of Medallia Key Account Experience:
Deciphers complex webs of relationships
• Rolls up organizational hierarchies into easy-to-understand views of key accounts.
• Updates organizational changes, such as additions or deletions of programs, automatically and seamlessly.
• Displays customer feedback across multiple touchpoints through role-based reports and unifies transactional and relationship data.
Customer Example: For a global IT and communications company, with more than 200 data centers and 1,000 global accounts in 20+ countries, we unified the entire company on the Medallia platform. The company deployed more than 100,000 survey invitations and closed the loop with 2,500 corporate customers within the first five months.
Allows B2Bs to hear from every key account throughout the year
• Surveys users, stakeholders, and decision makers on a rolling basis throughout the year to continuously monitor accounts.
• Tracks every survey invitation and, if someone doesn’t respond, users can try a different survey channel. Also identifies the optimal invitation path to maximize customers’ convenience and, consequently, response rates.
• Ensures that the right people in an organization are surveyed at the appropriate intervals with sample management that prevents over-surveying of the same individuals.
• Enables users to record unsolicited feedback on the fly—perfect for when a customer calls in unexpectedly.
Customer Example: One customer replaced its CEM system, which was unable to scale to its data collection and reporting needs, with Medallia’s Key Account Experience solution. It surveys in nine languages across 25 programs, with much higher response and engagement rates than the previous system. Average customer loyalty scores jumped 7 percent, and scores increased in six of seven tracked metrics in the first year. One group’s customer loyalty score increased 85 points in just four months.
Recovers at-risk key accounts by closing the loop
• Sends real-time alerts on low-scoring and unanswered surveys, which are often the first signs of a relationship in decline.
• Identifies promoters through high-scoring responses, enabling a company to reach out to brand advocates for references.
Customer Example: One B2B company, with more than 45,000 employees and operations in 130 countries, incorporated Medallia’s alert management system. Managers were informed if a customer provided a particularly high or low score and updated about the causes of lost sales.
“Demand for Medallia Key Account Experience is strong,” said Hald. “In the first half of the year, revenue from the product grew 347% compared to the same period last year. We expect this momentum to continue as more B2B companies seek the right solution to keep their highly valued customers and partners happy.”
On July 27 at 10 a.m. Pacific Time, Medallia and CustomerThink.com will present a live web event with Tim Keough, Vice President, Quality Management Office at Pershing and Dan Lee, Senior Director of Product Solutions at Medallia. Keough will share details on how to build a successful Voice of Customer strategy with corporate customers and get the most out of customer feedback data in a contact center.