The idea of digital transformation during the COVID-19 epidemic was transformed from a buzzword joke into a critical and accelerated truth. The global shift in distance work and schooling is innumerable, but in business they have changed corporate behavior and consumer expectations – which were revealed in this week’s earnings report. TechCrunch may have a personal-organization focus, but we keep tabs on public companies in the tech world because often provide notifications, notes, and other indicators on how startups can be far-reaching.
In this case, however, we are working the opposite; Startups are now saying for the most part of us that their markets have shaken their buying behavior with a unique advantage for companies that help customers move into the digital state. And public agency results are now confirming the perspective of startups. Accelerated digital conversion is real and we have the data to support the point. Box, Sprout Social, Yext, Snowflake, and Salesforce recent earnings results follow notes that follow: We’ll contact each micro to save time, but you need to dig further if you have time. Let’s go!
Starting its journey with Yeast, the company has lost its most recent quarterly expectations. Today’s shares are up 18%. And a call with company CEO Howard Lerman underscored our general thesis on the acceleration of digital transformation. In short, Yeast’s evolution from an organization that plugs corporate information into external search engines to create and sell search technology is resonating in the market.
Why? Lerman explained that customers expect more digital services in response to their questions – “who wants to call 1-800,” he asked verbatim – forcing companies to rethink how they handle their customers’ inquiries. In turn, these companies are looking at companies like YEXT that provide technology to answer customers’ questions in digital format. It is customer-friendly, and can save companies money as call centers are expensive. Accelerated behavioral changes caused by the epidemic are forcing companies to continue buying more digital technology. This proves that a conversion does not have to be dramatic to have an intensely strong impact on how corporations buy and sell online.