According to a report from Gartner, worldwide spending on customer experience and relationship management (CRM) software grew 15.6% to reach $48.2 billion in 2018 leaving CRM both the largest and the fastest growing enterprise application software category.
Although this is good news for all companies in that line of business, this figure ($48.2 billion) includes a large proportion of revenues related to technologies which will likely never become part of the digitell.me portfolio: our focus is not on operational data but on experience data, in particular survey data and passively collected data, which is acquired and mapped across various touchpoints (e.g. onsite, shop, website, social media, app, email, etc.)
The concept of digitell.me is to be a full-service XM company offering cloud-based solutions that go beyond survey tools, such as AI based text analytics, predictive analytics and other technologies. In addition to that, we will offer high level consulting in implementing and using these technologies.
Nevertheless, survey technologies will always remain at the very heart of our company and in the centre of everything we do. Also, this is a short-term business plan reflecting two important facts:
(a) we are already in the process of developing a survey platform including a dashboard solution, and
(b) all founders have extensive experience in using and selling survey technologies in the DACH region.
In other words: This business plan focuses on the low hanging fruits in the German market short-term, rather than on the potential we could develop on a global scale including new technologies in the long term.
Therefore, it is worth looking at the market size for online survey software, although this figure will be biased downwards, as it does reflect neither: revenues generated from existing technologies that go beyond surveys (such as AI-based text analytics) and full-service projects, which will be part of the digitell.me offering.
Furthermore, it is our opinion that a significant part of revenues of ”traditional” market research agencies should be added to this figure, as we will be competing with all revenues related to surveys with employees, customers or panel audiences.