March 13, 2023
We often hear this question during a sales call when we assist a client with their platform selection project. In some cases, the client is referred to us by one of our existing Verint clients. In other cases, as we hear the requirements for a new community, we will suggest to the client that they consider the Verint Community platform as one of our recommendations.
At that point, we often hear the question, "Why have I not heard of Verint?"
Let's start with a bit of background and context.
Our company, Social Edge Consulting, has been in the community implementation space since 2012 and has found the Verint Community to be a solid choice for many of our customers. It has robust functionality, is technically flexible, has a continuous development investment, and has a high client satisfaction rate from what we hear first-hand from our clients. We have clients on various competing platforms such as Salesforce, Insided, Khoros, and Higher Logic. Verint ranks high among this group.
Verint (NASDAQ VRNT) is the name of the parent company. It was founded in 2002 and currently has a market capitalization of over $2.5 billion. They have a portfolio of software products focused on customer experience where the community platform is a great fit. In 2015, Verint acquired the company Telligent as their community platform.
We find that some of our clients have heard of Telligent. That community platform started in 2004, so they have been in this industry for almost 20 years. Verint's products have a similar naming structure to support the parent company's brand. In 2019, Telligent became the Verint Community.
The Verint Community Platform is a software solution designed to help organizations create and manage online communities. The platform provides a range of tools and features that enable organizations to build engaging and interactive communities that foster collaboration, knowledge sharing, and customer engagement.
Some of the key features of the Verint Community Platform include forums, blogs, polls, and chat capabilities. The platform also includes robust moderation and analytics tools that enable organizations to monitor community activity, identify trends and insights, and take action to improve the community experience.
The Verint Community Platform is flexible and customizable, allowing organizations to tailor the platform to their unique needs and branding. The platform can be deployed in the cloud or on-premises, and integrates with a wide range of other software solutions, such as CRM and marketing automation tools.
Overall, the Verint Community Platform provides a powerful set of tools and features that enable organizations to build and manage thriving online communities, driving customer engagement and improving the overall customer experience.
The answer has been a lack of sales and marketing investment.
In our view, Verint has not done enough to compete for the attention of the community customer. Verint has not made a sales and marketing investment in this platform that has been large enough for prospective clients to notice them. The other competing products in this industry spend significant marketing dollars on case studies, webinars, conference sponsorships, client testimonials, search engine ad words, etc. Those competing companies have a sales force processing those inbound marketing leads and creating outbound campaigns to call upon prospective clients. Finally, several prominent and popular analyst firms only rate software platforms that partner with them on projects.
However, those who are part of the Verint community know it’s a valuable resource for networking, learning, and troubleshooting. Members of the community can share best practices, exchange ideas, and receive support from Verint experts and other community members.
So we’re happy to report that recently there have been meaningful changes at Verint that should help address this issue. The Verint Community is part of a broader offering at Verint called Digital-First Engagement. There has been a significant expansion of the sales team, and I am hopeful we will see a complimentary marketing investment. At their June 2022 Engage customer conference there was a community track with a full slate of community-related sessions. Verint Engage 2023 is planning a similar community track. It's early days regarding this marketing investment, but we love the direction this is going!
With these investments, along with client word-of-mouth marketing, we believe that the Verint Community platform will increasingly be on the short-list for more and more companies considering a customer community platform.
If you have questions about Verint Community Platform, contact our Verint experts today.