Digital perception Change evolved from a buzz joke during the COVID-19 pandemic as an important and quick fact. Changes in distance work and schooling are numerous due to global change, but they have changed corporate behavior and consumer expectations in the business sector – a change in earnings reports this week.
ClearTips may have a private-company focus, but we keep an eye on public companies in the tech world as they often provide hints, notes, and other clues as to how startups can move forward. In this case, however, we are working to the contrary; Startups have told us for several quarters that their markets are gaining momentum as customers shake up their buying behavior with a distinct advantage to companies helping customers in the digital arena. And the results of the public company are now confirming the startup’s outlook.
Accelerated digital transformation is real, and we have data to support the point.
A digest of notes related to recent earnings results for Box, Sprout Social, Yext, Snowflake and Salesforce follows. We will contact everyone in the micro to save time, but as always if you have time, you will have to do more digging. let’s go!
Enterprise income increases
Beginning with Yext, the company beat expectations in its most recent quarter. Today its shares are up 18%. And a call with the company’s CEO Howard Lerman outlined our general thesis about the acceleration of digital transformation.
In short, the development of Yext from a company that has resonated in the marketplace by creating and selling search technology by connecting corporate information to external search engines. Why? Lerman explained that consumers expect a digital service to answer their questions – “those who want to call the 1-800 number,” he asked figuratively – to help companies rethink how to handle customer inquiries Forcing it.
In return, those companies are looking for companies like Yext that provide technology to better answer customer queries in digital format. It is customer friendly, and can save companies money because call centers are expensive. The change in behavior accelerated by the epidemic is forcing companies to promote the purchase of more digital technologies like this.
This is evidence that a change does not have to be dramatic to have a very strong impact on the way corporations buy and sell online.