Virtual Marketing Assistant sounds like a dream. Signpost is making it real. This is a great story about a very promising company.
Sramana Mitra: Let’s start with introducing our audience to Signpost. What do you do? What kind of customers do you work with? What trends do you align with?
Stuart Wall: Signpost is an artificial intelligent CRM. The idea is that tools like Salesforce provide a very important function, i.e. how can companies keep track of their customers and prospective customers. The problem is a lot of marketing technology, including that of Salesforce, is way too hard to use. It’s difficult to set up and is very manual.
As a result, there’s a lot of friction and end user error. We think this is one of the best applications for AI. Signpost’s AI is called Mia. What Mia does is she keeps a perfect record of every customer’s interaction between the business and its consumers, and then runs programmatic marketing in a way that’s dramatically more effective.
To take it through a use case, let’s say you’re a gym. Mia would keep track of every phone call and credit card transaction. She would know people who called that never made it in. She’d also know people who just made their first purchase a few minutes ago. That, in itself, is very valuable data. In today’s world, knowing who your customers are is table steak to running a business.
That said, data by itself has no value. What businesses care about is results. The way Mia works is you give me objectives like, “I’d like to get more views on Yelp.” Mia sends email messages and gets the page frequency – a lot of decisions that make the marketing personalized but are way too complicated for the business to manage. What you walk away with is something very effective and extremely low friction.
Sramana Mitra: With what you produce, what is that gym able to do?
Stuart Wall: The main value is what we call outcomes. An outcome involves getting reviews online, converting new customers, and getting loyalty from existing customers. The benefits that they get when they’re using Mia is, Mia gets reviews on sites like Google and Facebook from the customers. She sends them feedback requests and then reminders to share their feedback online.
She encourages new customers to come in, so she’ll identify someone who’s called the gym but never came through. She’ll send an SMS to convert that person, and she’ll send loyalty campaigns to people who have dropped off. The end result is they see revenue and reviews as an outcome for them. The way that happens is she identifies who the customers are and sends them very targeted marketing.