Medallia is a leading software company that offers a cloud-based Software-as-a-Service (SaaS) platform. The company's primary focus is on the management of customer experience and enhancing employee engagement. Medallia helps businesses reduce churn, transform detractors into promoters and buyers, create real-time cross-selling and upselling opportunities, and make business decisions that significantly impact revenues.
Housed within the realms of information technology, computer software, and internet industries, Medallia analyzes both structured and unstructured data using AI technology. The company captures data from customers, employees, digital touchpoints, and Internet of Things (IoT) interactions for this purpose, demonstrating a comprehensive approach to data analysis and insight generation in the realm of customer and business intelligence.
Founded in 2001 by Borge Hald and Amy Pressman, Medallia has continued to grow, reaching a global audience and amassing an employee base of approximately 2400. Medallia's founders were inspired to create the company following their consulting experiences with executives of Fortune 500 companies, focusing on consumer-company relationships. Medallia achieved several milestones, such as being ranked #7 on the Forbes Cloud 100 list in 2017. In 2016, Medallia made a significant strategic move by acquiring Kampyle, and in July 2019, went public on the NYSE led by CEO Leslie James Stretch.
On a social level, Medallia shows commitment to diversity and inclusivity by celebrating events such as Hispanic Heritage Month and hosting conferences like Medallia's Experience '24.
Medallia's Experience Cloud is widely recognized for its ability to enhance customer and employee experiences. The platform collects data from various customer and employee signals, utilizing AI to analyze this structured and unstructured information across multiple touchpoints, including human interactions, digital platforms, and IoT devices. Medallia's clients realize clear and substantial returns on investment via reduced customer churn rates, customer conversion, and the creation of real-time selling opportunities.
Furthermore, the firm provides a suite of products, including tools for text analytics, experience management, and social media, to give its clients a comprehensive, data-driven understanding of their customer and employee experiences.
Medallia's services cater to a worldwide customer base, particularly appealing to enterprises seeking to leverage data to boost their customer experience and employee engagement. The cloud-based solution offered by Medallia is especially beneficial to industries such as marketing management, digital solutions, and research activities. These industries benefit from the insights that are generated, driving changes in strategy and operations based on the data-driven findings provided by Medallia's platform.
The objective of this sales plan is to pitch a SaaS solution that addresses Medallia's potential pain points including data management and analysis, employee engagement and productivity, staying competitive in the SaaS market, customer churn management, and challenges related to scaling up processes.
The proposed SaaS solution can provide tools to help Medallia streamline and enhance their data analysis capabilities, improve internal communication and management processes, stay ahead in the competitive SaaS market, reduce customer churn and manage their expanding operations more effectively.
The key decision makers at Medallia are likely to include the CEO, CTO, Heads of Data Analytics, HR, and Customer Success based on their potential involvement in making choices related to the company's SaaS platform and overall customer and employee experience strategy.
Plan for initial outreach via LinkedIn or direct email to key decision makers. Frame the discussion around the proposed solution’s ability to address their potential pain points.
Track all communication and updates about Medallia in a CRM system. Update the system regularly with any insights gained during the outreach process.
Tailor the follow-up communication specifically to Medallia's needs. Demonstrate how the proposed solution can add value by sharing relevant case studies and product demonstrations focusing on their known pain points.
Prepare for objections related to pricing, integration capabilities, support structure, etc. Have strong, fact-based responses ready for common objections in the SaaS space.
After addressing all objections and questions, transition to close the sale. Clearly state the agreement and next steps to initiate the partnership.
Maintain regular communication post-sale to ensure the solution is meeting Medallia’s needs, attempt to upsell and cross-sell where possible, and maintain a strong relationship for potential referrals. This ongoing communication will also help in preventing customer churn.