Quiq, a leading customer engagement provider used by many consumer brands to power digital customer conversations, including Overstock, Club Med, Men’s Wearhouse and Brinks Home Security today announced that it has acquired Snaps, a New York-based company that specializes in Conversational AI and NLP-powered automation for Lane Bryant, Live Nation, General Assembly, Clairol, Nioxin, and others. Together, Quiq and Snaps create the most robust and complete conversational engagement solution in the market. The acquisition will accelerate the companies’ shared vision of enabling the next generation of digital conversations with AI and asynchronous messaging.
“Covid-19 has accelerated the digital transformation of consumer communication with businesses. Consumers prefer asynchronous messaging and chatbots to interact with their favorite brands, just like they communicate with family and friends. The combination of Quiq’s enterprise messaging platform and Snaps Conversational AI is uniquely positioned to power next generation digital conversations throughout the entire customer lifecycle from marketing to conversational commerce to customer service”, said Mike Myer, CEO & Founder of Quiq.
Together, Quiq and Snaps delivers increased sales and operational efficiency while improving the experience of customers. With Snaps Conversational AI, brands have seen ecommerce purchases increase by 300%, up to 85% of inbound service inquiries have been resolved, and Customer Satisfaction (CSAT) scores have been raised by 15 points. Brands using Quiq’s asynchronous messaging platform for digital conversations see 20-30% reduction in call volumes, 3X improvement in agent efficiency and CSAT increases of 15-20 points.
The combined company will provide global enterprises with a proven, robust software platform and services enabling conversational commerce and digital conversations on more than twelve messaging channels including SMS, web chat, Apple Business Chat, Google’s Business Messages, Instagram, Facebook Messenger and WhatsApp. Brands will be able to design, deploy and optimize AI automation across these channels and offer a seamless handoff to human agents to close sales opportunities or resolve complex service requests. For brands that need help designing and deploying automation, Snaps expertise is available through a full suite of services, from conversational design to technical and business consulting to help brands achieve their desired outcomes.
“There is huge market potential for a full-featured conversational engagement solution built to serve the digital shift in how consumers expect to interact with brands,” said Christian Brucculeri, CEO of Snaps. “We are excited to join Quiq and build the next generation of customer communications.”
“This is a very exciting strategic combination for us, and more importantly, for our clients,” added Myer. “Quiq’s async messaging platform, along with Snaps’ Conversational AI and expertise, is now the most powerful digital conversation solution for enterprise brands.”