New Relic CEO: 'Your digital experience is your brand.' Here's how we're helping clients like Fox refine it
- "Mad Money" host Jim Cramer spoke to New Relic Founder and CEO Lew Cirne about mitigating digital experiences for clients like 21st Century Fox.
- Cirne pointed to banks as an example of how digital experiences are encompassing company branding.
- The CEO also spoke to New Relic's relationship with Fox, which has reportedly been in talks to sell most of its assets to Disney.
Digital presence has become absolutely essential for consumer-facing companies, at least according to Lew Cirne, the founder and CEO of cloud-based monitoring service New Relic.
"Your digital experience is your brand," Cirne told CNBC in a Tuesday interview with "Mad Money" host Jim Cramer. "You don't walk into a bank nearly as often as you fire up its app. So think about that. Think about how the app is now becoming more important than the actual bank experience to so many customers."
New Relic helps companies keep track of their software, measuring performance, customer interactions and potential problems.
The fast-growing company boasts clients like Major League Baseball, Adobe and 21st Century Fox, which was in the news Monday for reportedly having talks with Disney to sell the entertainment giant most of its assets.
Cirne said New Relic was "thrilled" to have partnered with Fox in the second quarter because of the company's reach, with operations in 170 countries and roughly two billion online users.
"They're becoming a digital company," the CEO said. "How do they make sure they're delivering a flawless customer experience across all of those properties all around the world? They turned to New Relic to instrument everything in the digital experience to make sure they can move fast with confidence."
New Relic's enterprise business is rapidly expanding. This quarter was the first time that more than half of the company's business came from enterprise customers, Cirne said.
"Companies realize nothing should go into production without instrumentation," Cirne told Cramer, adding that much of New Relic's second-quarter growth came from satisfied enterprise customers asking New Relic to expand its monitoring operations throughout their systems.
And as digital engagement expands, the stakes get higher when it comes to customer retention, the CEO said.
"If the site is down, it's not only that you might lose for that one transaction, the customer may never go back," he told Cramer. "So that's why you need to earn and maintain that customer's trust every day, every transaction. The only way you can do that is measuring everything. That's not easy to do. We do that better than anybody else and that's why our customers select our platform and go all in."
Watch Lew Cirne's full interview here:
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