Medallia, Inc., the global leader in customer and employee experience, announced it has signed a definitive agreement to acquire Mindful, the leader in callback automation, from Alpine Investors, a people-driven private equity firm.
Mindful, formerly known as VHT, will add to Medallia’s ability to turn customer signals into action, transforming the contact center experience and turning detractors into promoters.
Contact center interactions are central to customer experiences, yet consumer satisfaction has declined as contact center hold times skyrocket. According to the latest Contact Center Satisfaction Index (CCSI) study, 72% of respondents say phone calls are still their preferred method for contacting customer service and 27% of consumers polled report they are using contact centers more than ever. When coupled with traditionally high employee turnover rates now approaching 40% and made worse by the Great Resignation, contact centers face a daunting challenge.
“Consumers often want or need to talk to a live person, but no consumer ever wants to sit on hold,” said Leslie Stretch, CEO, Medallia. “Mindful combined with Medallia’s signals-to-action platform will enable organizations to deliver a modern customer experience while reducing the high cost and friction of the conventional contact center approach. At the same time, contact centers will be able to use their staff much more efficiently by shifting call volumes to the most efficient times, routing calls to the most relevant queues, and resolving issues without wasting either customers’ or agents’ time.”
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Mindful’s patented technology enables customers to schedule a call when convenient for them, automates intelligent callbacks that turn hold time into free time, seamlessly transitions customers to other channels when needed, and provides automated call initiation based on signals from various channels. Using direct and indirect feedback from Medallia Experience Cloud enables a focused personalization absent from most contact center interactions.
“We are delighted to be joining forces with the customer experience leader,” said Matt DiMaria, CEO, Mindful. “Our approach to customer interactions will be greatly enhanced through integration with Medallia’s award-winning Experience Cloud and category leading Text Analytics engine. Our joint customers know what a great customer journey should be and making their customers’ interactions easier and more productive is a home run.”
Enterprises have a myriad of contact center environments, BPO partners, and technology vendors, but Mindful seamlessly empowers leading organizations across hundreds of Fortune 500 companies to more efficiently provide consistent callback experiences.
The deal is subject to regulatory approval and is expected to close in the third quarter of this fiscal year.