Thomas: Marketing budgets are flawed because 90% of buyers rely on peers
Ragy Thomas · 862 With $150m+ Revenue, Plus New Product, Can Anyone Catch Sprinklr? · Dec 3, 2017 · at 17:32
Ragy Thomas, founder and CEO of Sprinklr, explains his customer acquisition approach and his philosophy on modern customer experience management.
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“Marketing is foundationally now flawed. Because 80% of your budget, if you're spending into what to say to people, and 90% of people are making the decision on what others are saying to them, you're off.”
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More from Ragy Thomas
Thomas: Sprinklr discards acquired code and writes down revenue post-acquisition
“The second interesting thing there is every one of these acquisitions that we've brought on, we have practically thrown away the code. In most cases, we've written down the revenue.”
Thomas: Educating an unready market just paves the road for competitors
“You don't want to spend your time educating the market that's not ready for you. Cause that's just paving the road for the next company to take advantage of that education.”
Thomas: Rebuilding Acquired Capabilities Natively Is Faster Than Merging Codebases
“So we can rebuild faster than attaching or merging it.”
Thomas: Sprinklr contracts average $150K to $200K, exceeding $10M annually
“You know, it varies by quarter, but generally around a 150 to 200,000. And the contract ranges that we try not to do engagements below a hundred grand, and on the high end, it goes annualized over ten million dollars a year.”
Thomas: CMOs now spend more on enterprise technology than CIOs
“The CMO is now spending more than CIO on, on, on technology.”
Thomas: Sprinklr refers sub-enterprise discovery leads to competitor Hootsuite
“In fact, I have personally referred many customers to Hootsuite. We go, we do a discovery, and I've personally said, we're not ready for each other, and you should use something that's more suited to your current needs.”