SalesTechStar Interview with Mike Myer, CEO and Founder of Quiq
Mike Myer, CEO and Founder of Quiq dives into current day sales trends and discusses the impact of new age salestech like conversational AI and bots on the future of sales in this quick catch-up:
Welcome to this SalesTechStar chat Mike, tell us about yourself and the story behind Quiq…
Thank you! I started Quiq in 2015 because I saw an opportunity to make it easier for customers and businesses to communicate. Traditionally, there’s been a huge gap between the way we all prefer to communicate with family and friends, and how businesses force customers to contact them. Phone calls and email are annoying and inefficient. Sending a text is how we all get stuff done with family and friends. That’s how we should be able to communicate with companies as well.
We’d love to hear more about Quiq and how the platform has evolved over the years, take us through your recent product ‘’Compose’’ and how it benefits end users?
Quiq is transforming how businesses and customers communicate. Our platform is made up of state-of-the-art conversational AI to automate routine customer inquiries and a next generation asynchronous contact center to connect customers with human agents for issues that can’t be solved by AI. In our new “Quiq Compose” capability, we expanded the reach of our AI to help agents respond to customers based upon the combined knowledge of agents who handled similar customers in the past.
Our team has worked for several years to incorporate the power of the underlying algorithms that make up ChatGPT into a solution that is custom-built for the enterprise-to-customer use case. Quiq Compose is trained only on each company’s data sets, thereby eliminating the possibility of “hallucinations.” Quiq Compose observes the conversation and provides agents with suggested responses that are contextualized for the current customer. Quiq Compose also watches while agents are typing and auto-completes their thoughts. So far, we’ve seen Quiq Compose help agents save 20-30% of their time typing responses.
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Given all the limelight that conversational AI and bots are getting today, how do you feel the near future of these tools and similar technologies will look like in the near future?
I think many businesses will adopt Large Language Models (LLMs) and generative artificial intelligence in some capacity. We’re already seeing this as companies innovate with OpenAI APIs, for example. LLMs will become a “given” standard in business solutions like marketing systems and CRMs to enhance usability and efficacy.
We are entering a period of rapid innovation. Off-the-shelf AI will enable innovation across many B2B software applications. Initially, I believe we’ll see a wave of AI-enabled new applications, but these new AI-powered applications will disappear as fast as they appear. They won’t be differentiated because they are just calling someone else’s API. In the long run, the winners will be the platforms that enable a core business process, own the data AND do clever things with AI. That’s why I’m so excited about Quiq’s comprehensive digital messaging platform that automates digital messaging with AI and makes humans more efficient with AI assistance.
Take us through Quiq’s growth story and a little about the sales/expansion model you follow to drive business growth?
To drive business growth, Quiq has followed a land-and-expand model that focuses on targeting businesses that have a high volume of customer interactions, such as e-commerce, retail, travel, and hospitality enterprises. The combination of a product that delivers ROI and outstanding customer relationships has powered small landings with new clients into million-dollar long-term opportunities.
When a platform delivers business-changing results, that momentum fuels rapid innovation, great customer relationships, and strong strategic partnerships. That’s exactly what we’ve done at Quiq. Our momentum has also enabled market growth. I am pleased to say we expanded operations to EMEA earlier this year to continue growth in targeted markets.
We’d also love to hear a little about the salestech that helps power all of it?
Quiq uses a variety of salestech software for sales enablement, lead generation, analytics and CRM. Since we have a high security posture, a vital thing for us is SOC-2 compliance and data security.
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Can you highlight more about the future of B2B tech and how you feel this market will shape up?
The future of B2B tech looks promising as businesses continue to adopt and rely on digital solutions for their operations. The ongoing need for greater efficiency and automation in business processes will continue to drive demand for and innovation around AI and LLMs.
Companies that stay ahead of the curve in adopting and implementing these latest technologies are likely to enjoy a competitive advantage.
Quiq is makes it easy for people to have a conversation with a company.
Mike Myer is CEO and Founder of Quiq
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