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    YEXT   US98585N1063

YEXT, INC.

(YEXT)
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Delayed Nyse  -  04:00:02 2023-02-03 pm EST
7.830 USD   +1.42%
01/31Yext Recognized as a Leader in Workplace Benefits and Inclusion
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01/27Yext Secures Top Spot in 10 of G2's Winter Grid Reports
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01/26Yext Secures Top Spot in 10 of G2's Winter Grid« Reports
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Yext : How Search Fits Into Conversational Marketing

03/01/2022 | 11:39am EST

Before the pandemic, we were all accustomed to talking to actual humanswhile we researched - and purchased- products and services. As we browsed a brick-and-mortar store, a rep might have asked if we found what we were looking for, or even been so bold as to make a recommendation. We all knew the etiquette behind these kinds of exchanges - two people having a normal (if not contrived) conversation.

But even prior to 2020, a larger share of these conversations were happening online - and not with an actual human. Through channels like online chat or even text messaging, brands have made massive strides to scale their outreach and engagement methods with prospects, making it feellike that store rep who is "just trying to help."

According to Drift, one of the leaders in the conversational marketing space, the usage of chatbots rose by 92% in 2020, during the early phases of the pandemic. In 2021, eight out of ten of their survey respondents reportedhaving a conversational marketing solution, with 74% of those who did not indicating their desire to add one.

All told, the conversational AI market is expected to grow to a whopping $32.6 billion by 2030.

The numbers and ubiquity of these types of platforms indicate that this is more than a trend. But, anecdotally, do any of us feel as though these solutions are fully mature and able to replace more traditional marketing efforts? Are we enthusiastic about chatting with a bot instead of a human? Or are we more likely to be left with an accidentally humorous transcript that demonstrates a lack of understanding and communication?

Drift reports that it's not all rosy, as positive user experiences with conversational marketing solutions dropped by 10% in 2021 compared to 2020. That's not to say that that number won't bounce back in the coming years, but this much is obvious: using AI to mimic a human is hard. The endless directions that a live conversation can go means that the AI must have the intuition and breadth of knowledge to cover that range of possibilities.

Another way into the conversation

While some more direct conversational marketing platforms are focused on equipping their channels (chatbots, most frequently) with that range of knowledge, at Yext, we focus first on building that knowledge base out on your business's backend. We didn't create the term Knowledge Graph (thanks, Google), but we've taken that concept of centralizing, organizing, and managing your information from one place. As marketers, content is king - but only if it's accessible. Those silos must be broken down, creating an open foundation of all of your brand's information and facts.

That's our critical first step, before we even try to have that conversation with a customer. From there, our usage of AI applies to our search platform, which can understand the nature of a question and offer up an answer based on the way the search is phrased and what's stored in that Knowledge Graph.

We know that every customer journey begins with a search. Many platforms that are squarely in the conversational marketing category are pushing their AI-powered channels to handhold the user along that linear journey.

Search is all about surfacing the right information, while giving the customer the autonomy to modify or continue inputting search queries. Maybe the customer's line of questioning isn't completely linear. Is this method as conversational as a chatbot asking for your name and business information? Probably not. But when those channels (be that your website, apps, andchat surfaces) have that robust Knowledge Graph to rely upon to retrieve and deliver relevant information, that conversation can be productive - even if not quiteas charming as your favorite AI bot.

To learn more about how you can use a Knowledge Graph and AI-powered search platform to engage in conversations with your customers, click here.

Disclaimer

Yext Inc. published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 16:38:04 UTC.


ę Publicnow 2022
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Financials (USD)
Sales 2023 399 M - -
Net income 2023 -69,5 M - -
Net Debt 2023 - - -
P/E ratio 2023 -14,2x
Yield 2023 -
Capitalization 956 M 956 M -
Capi. / Sales 2023 2,39x
Capi. / Sales 2024 2,30x
Nbr of Employees 1 400
Free-Float 77,2%
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 7,83 $
Average target price 6,17 $
Spread / Average Target -21,2%
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Managers and Directors
Michael Walrath Director
Marc Ferrentino President & Chief Operating Officer
Darryl Bond Chief Financial & Accounting Officer
Deepika Rayala Chief Information Officer
Rob Figueiredo Chief Technology Officer
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