Acquisition project | Sprinklr, Inc.

Company Overview: Sprinklr, Inc. is a 15-year-old B2B SaaS company that went public at NYSE in 2019. Sprinklr markets itself as a Unified-CXM platform for all client-facing operations. The offerings/product modules can be broadly categorised into:

Sprinklr serves 2000+ brands that purchase some or all of the solutions.

Renowned Logos Acquired:

Product Overview:

We will deep dive into Sprinklr Social (Omnichannel Social Media Management Tool) in this project. Here are the top 8 capabilities of Sprinklr Social for context:

✅ API integrations with 30+ social media channels

✅ Social Publishing and Engagement
✅ Employee Advocacy

✅ Unsiloed workflows for content marketing and campaign planning

✅ Marketing Analytics

✅ AI-powered campaign and creative optimisation for Paid Ads
✅ Enterprise grade governance

✅ Inbound Comment Moderation Tools

The product is offered in two ways and I will build 1 ICP for enterprise and 1 for self-serve.

ICP Prioritisation Framework for Sprinklr Social :

ICP Profiles:

​

Target Industry Segments: ​

Product Category and Market Overview:

SPRINKLR, INC.

Sprinklr, Inc. as a brand falls under the Unified-CXM category. This is not an established category. Sprinklr is the category creator. First-mover advantage has helped acquire highly valued, low-hanging brands, improve product capabilities to match customer needs and capture the most easily fillable whitespaces.

In the words of Ragy Thomas, CEO of Sprinklr, Inc.:

As the world's firstpurpose-built Unified-CXMplatform,Sprinklr is the only partner that can bring it all together.

SPRINKLR SOCIAL:

Category/Product Market: As category creation takes many years to build, Sprinklr's Social module is pitched as a SOCIAL MEDIA MANAGEMENT TOOL with a heavy integration of proprietary AI.

COMPETITOR ANALYSIS:

Sprinklr Social - TAM, SAM and SOM:

Approx. 300M registered companies in the world. Source

10% of such companies have no digital footprint and 20% of such companies do not use social media to reach their customers. Source

This leaves us with 80% of 300M using social media to reach their customers i.e 240 Million accounts
This is the TAM (in terms of no. of accounts) for Sprinklr Social - Social Media Management Tool

From this 240 Million, we need to omit companies on the basis of geography, revenue bracket to arrive at SAM.

Geography: 70% of clients are acquired from the US, 10% from the UK, 5% from India, 15% from 20 other major APJ and EMEA regions. The remaining countries are not serviceable due to low willingness to pay, low digital penetration, government regulations, internal monopolies, unfavourable macro and micro economic situations, unprofitability etc.

We have about 200 countries in the world of which Sprinklr can serve 25 countries. For the ease of calculation, we are assuming that the total no. of brands in the world is equally divided between all 200 countries. In that case, we can capture 12.5% of the brands (25 is 12.5% of 200).

Revenue Bracket: To afford even the self-serve model, the companies need to have a minimum annual revenue of 1 Million USD. Only 1 in 20 businesses surpass 1 Million $ annual revenue. Source
This means only 5% fall under the revenue bucket.

We get total SAM as 80% of 12.5% of TAM = 1,500,000 accounts

For SOM, we are considering companies with team size >5 and companies that are currently using a social media management tool for less than 2 years because 95% of companies that are onboarded move to Sprinklr from competitors. Brands that don't use any tool either have budget or need based issues. Brands with more than 2 years with any competitor will be difficult to onboard as greater subscription periods suggest successful renewals and satisfied customers. They do not have any need to shift. Approximately 5% accounts fall in this category. This will total to 100,000 accounts as SOM.

​
JOB TO BE DONE:
​

​

ACQUISITION CHANNELS OVERVIEW FOR SPRINKLR SOCIAL:​

​

​Partner Programs @ Sprinklr Social:


​

Who is an ideal partner of Sprinklr Social?

CHANNEL PARTNERS:

SCOPE:
API integrations make it possible for customers of Sprinklr to use our platform to advertise across channels. Channels are heavily dependent on Ad Revenue. If a brand identifies two winning channels, the budget split is unlikely during budget constraints.

OPPORTUNITIES FOR SPRINKLR:

Help channels with ad revenue loss: Solve for ad revenue loss for channels by using Sprinklr's Product Success Specialists who assist clients with front-end campaign creations, provide channel-wise recommendations based on past performance, and advocate for channels as strategic consultants.

Bring more ad revenue to channels by introducing new logos: Sprinklr encounters very many SMEs who have a nascent PR team and no budget support for hiring professional third-party services for digital marketing. Such customers reach out to Sprinklr product experts for advise who provide strong cases from former channel success stories to the customers to explore newer channels that fit their KPIs, use case, budgets, target audience and growth potential.

HOW WILL SPRINKLR BENEFIT?:

​

Client Acquisition through Brand Awareness and Recognition: Privilege to host thought leadership campaigns with channels to increase credibility. LinkedIn and Google are major paid ad gateways for Sprinklr. Sprinklr can build reports on how customers benefit from campaigns across funnels on LinkedIn via Sprinklr software. These reports can be circulated extensively at low cost by LinkedIn Marketing Partner as a channel partner of Sprinklr.

Lenient API Permissions and T&C: Sprinklr is 80% fuelled by successful API integrations from 30+ of channels. Having these channels as partners will lessen the financial and compliance burden on Sprinklr.

EXAMPLES OF CHANNEL PARTNERS:

​​

​

PRODUCT INTEGRATION PARTNERS:

Here are just a few of the many product integrations that can make Sprinklr Social seem more relevant as an investment to customers.



CUSTOMER ACQUISITION BENEFITS TO SPRINKLR:

Present Pain Point: Customers use multiple softwares and tools for ideating, launching and analysing organic and paid campaigns. Individually procuring these tools/licences will be VERY COSTLY.

Sprinklr's Unified CXM Solution: At the time of contract formation, Sprinklr can allow customers to choose product integrations in an a la carte format for subsidised additional costs. This will captivate more customers to become Sprinklr users for lowered licensing costs and truly Unified Experience.

BENEFITS TO PRODUCT INTEGRATION PARTNERS:

1. Increased customer base
2. More product adoption
3. Financial Incentives from Sprinklr on the basis of Avg. Contract Value for each product integration add-on purchase

​

IT CONSULTING AND DIGITAL PR AGENCY PARTNERS:

Sprinklr x Accenture: Outsource Sprinklr Social's software implementation services to contract employees from Accenture. To gain more business from this, Accenture's IT Consulting wing will act as a Partner of Sprinklr to promote, advocate and acquire new customers for Sprinklr's Social Module.

Sprinklr x Publicis/Havas: Large Media Houses have customers that tick all boxes of Sprinklr Social's ICP in terms of adoption, appetite to pay, TAM and frequency.

To acquire these customers, Sprinklr's partnership with Digital PR agencies will help such agencies to keep up their service promise: lower CPA, automation, workdays saved, higher ROAS and creative/audience/campaign optimisation by using Sprinklr Social's GenAI, Product Integration, Governance and other features.

5 - STEP PARTNER PROGRAM WORKFLOW WITHIN SPRINKLR WEBSITE:

Step 1: Potential partners fill a form within the dedicated Partner page on the Sprinklr website.

​

​

Step 2: Sprinklr Partner Programs team reaches out to the interested partner

Step 3: Partner onboarded and partner contract T&C, financial incentives and partner deliverables are finalised

Step 4: Partner is successfully onboarded and now has access to:

• • • • Access to the Sprinklr Partner Portal
      • Trainings on the Sprinklr Unified-CXM platform
      • Sprinklr product and company updates
      • Exclusive Partner Newsletters

​

Step 5: Quarterly Partnership reviews to define progress and partnership roadmaps. Constantly publish partner success stories to drive new partner onboardings.

Content Loops @ Sprinklr Social:​

Pros and Cons:

​

LYEARN CERTIFICATIONS FOR CUSTOMERS:

WHAT IS LYEARN?

Think of it as SPRINKLR CXM UNIVERSITY. Sprinklr's product training content is hosted here for all solutions, modules and use cases. This platform contains interactive training videos, platform walkthroughs, quiz modules and self-learning streams to master specific portions and capabilities of the software.

OPPORTUNITY:

On completing a particular course along with the quizzes, the user is provided with a certificate. This capability is currently set for employee training and automating product hands-on and tracking for internal new hire onboarding. This platform is open to client side practitioners and media planners for filling product knowledge gaps and to reduce their dependence on support teams. It is specifically useful for accounts in the self-serve contract that get no dedicated product expert support.

WHY LYEARN ACTS AS A CONTENT LOOP?

The external users have enthusiastically shared their certificates on LinkedIn. They have added these certificates to their LinkedIn Profile. Their networks and connections also want to be certified to enhance their professional profiles. This leads to the networks exploring Sprinklr products and capabilities. Converted connections are onboarded and they continue sharing their own certificates. The loop goes on.

This loop can be created with no additional costs as the set up is already a part of internal training programs. We are simply repurposing it.

​

​

FLAGSHIP CUSTOMER EVENT (CXConnect/CX Unifiers Event and Awards):

WHAT ARE CXConnect AND CXUnifiers?

​
These events are hosted by Sprinklr, bringing together 300+ existing customers, partners and prospects from 15+ countries. They are in-person activations for acquiring new customers. Invitees need to atleast be at the Director level at their firm to qualify for the event. 40+ keynote speaker sessions, workshops, seminars are held by partners and enterprises to help attendees elevate their CX and leverage AI.



OPPORTUNITY:

As it is an invite-only event, decision makers exploring the CXM space try to get a seat for themselves. The seat quota allocated for prospects is 25%. The sense of missing out on core knowledge transfers, upcoming tech advancements in the space and networking with officials from large enterprises who are current Sprinklr employees creates the hype and demand.

​

WHY CXConnect AND CXUnifiers ACT AS CONTENT LOOPS?

City locations for the CX events are chosen by ranking cities on the density of target audience. This increases the accessibility to and visibility of the events. CX Unifier awards are given out to high adopters of the platform.

Consulting partners, high order resellers, cloud partners etc. conduct workshops, co-brand their logos with Sprinklr logo and hold speaker sessions. Sprinklr creates a lot of buzz on social media platforms. pre, during and post events Awardees post their achievements on social media. This invites prospect traffic to the next events. Hence the loop.

​

​

​

​