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In our recent interview with Katerina Stroponiati, Founding Partner at Monday Capital, we took a deep dive into the ‘why’ behind Cere Network. I’d like to highlight two critical business needs we hit on, which were creating problems not just for me in my previous gaming company, but for businesses across every industry:
1) an easy way to securely share customer data between multiple apps/partners without running into compliance issues.
2) the ability to respond to the customer insights based on each unique customer journey and share that with on-demand business intelligence experts to help us to better understand our users.
Compelled to act, we set off to solve a problem that’s not easily solvable in another way using blockchain technology — and we’ve won over a ton of support along the way!
Our time in the Binance Labs incubator was rewarding and invaluable. Binance offered their full support — providing us with mentorship and helping us expand our network and partnerships. Through Binance, we were able to drastically improve our growth strategy, thanks to the advice and guidance from the best cryptography and token economics experts in the world.
Since, we’ve become the most sought after project to graduate from Binance Labs, allowing us to. expand our presence internationally, with new offices in New York and Berlin.
Receiving the vote of confidence from industry heavyweights, like Binance Labs, Fenbushi, Arrington XRP Capital and NEO Global Capital, further affirms our reason for existence and the unequivocal need for a decentralized CRM ecosystem to exist.
Inflexible systems and costs have been the largest barriers for CRM customers. Most CRM systems sell a subscription-based on the amount of seats per account, which can easily get out of control when sales teams grow. And, when it comes to adding in customized options and more functionality, the per user costs can spike from around $25 to over $300 a user per month. Coupled with inefficient and non-collaborative systems, the value proposition of CRM for most businesses fall into the negative.
Beyond cost and bulkiness, existing CRM systems are also challenged with data fidelity and privacy vulnerabilities. In 2018, Salesforce issued a warning to their Marketing Cloud users that their data may have been illegally accessed or altered. Morerecently, Salesforce’s efforts in stopping a data leak resulted in a service outage for its ~4 million subscriber base.
This combination of inadequacies have created a laggard CRM market where CRM spend trends up and adoption/retention remains low. Cere Network is built to remove the bottlenecks and inefficiencies of traditional CRM systems. By leveraging blockchain, Cere Network is introducing a solution that significantly improves data fidelity and protection while enabling cross-collaboration between teams. This is also achieved while remaining cheaper, faster and vastly more customizable.
Recent Tableau and Mulesoft acquisitions by Salesforce clearly shows that they are acquiring their way to offer better interoperability and more customized insights for its CRM ecosystem. We share the same goal and vision yet we are taking a more innovative and open ecosystem approach.
According to the 2017 Mary Meeker report, Kleiner Perkins discovered that an average enterprise uses 91 marketing cloud services, and 43 of those were CRM and sales solutions. While some of these solutions are integrated with one another, much of the data that’s being captured remain fragmented, siloed and inaccessible. In hindsight, rather than helping solve the problem, CRM providers have only exacerbated existing bottlenecks with even more challenges and low-quality options.
For any customer-centric business, Cere Network is empowering them to deliver responsive experiences to hyper-customized insights across units and partnerships, the way a ‘this-generation’ CRM should be.
We’re continuing to build out an open CRM ecosystem by using blockchain technology to unlock new value. and introduce true data interoperability and collaboration.
We’re excited to have started off with a bang and will have a lot more to share in the coming weeks!
