Over 100 Million Reasons Why Conversational Customer Service Is The Way Forward

11 Sep 2021
7 min read

Post Highlight

When I spoke with Dixa's CEO, Mads Fosselius, last year, we talked about the development of a conversational era of customer service and how a ticketing system was no longer adequate. #ThinkWithNiche


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Customers often use more than one channel to contact a firm to fix an issue or answer a question (such as through phone, text, messaging, chat, email, social media, etc.). When consumers do contact, they prefer to think about having a discussion with the brand in issue rather than channels. People get irritated when brands do not follow suit.

According to studies, consumer annoyance with having to repeat oneself is the leading source of customer discontent when seeking assistance, particularly when transferring between channels or between teams. Dixa's research and customer outcomes demonstrate that moving to a conversational approach boosts customer retention rates by up to 15% and enhances client lifetime value. We discussed the reality that the space is still in its infancy during my meeting with Fosselius. But this was before the pandemic.

We've seen a lot of changes and evolutions since then. According to McKinsey, organisations may achieve seven years' worth of progress on digital technology initiatives in just a few months. So is the conversational age still in its early stages?

That does not appear to be the case. Dixa announced a $105 million Series C financing round today. General Atlantic led this investment, which follows a $36 million Series B transaction completed 18 months ago, with participation from prior investors Notion Capital Project A and Seed Capital. Dixa plans to quadruple its engineering team by the end of 2022 and extend its worldwide reach after getting new investment.

According to Fosselius, they are on the verge of becoming a unicorn due to this investment. "Channels no longer matter," he says of today's clientele. Instead, they will engage in what is known as a "multi-experience" in the future. This is how we assist brands in being true to their ideals ``. According to Tom Hussey, vice president of B2B software, "customer support software is undergoing a fundamental shift, shifting from fragmented, transactional techniques to longitudinal, conversational engagement." According to General Atlantic's Vice President of Technology, Dixa's vision and product have helped define and drive this multi-experience approach." Recently, I wrote about the emerging service landscape, and it appears that it will be a major factor in the growth of Dixa's platform in the future years.

TWN In-Focus