Bill Magnuson: Yes. So first, I point out that the — we think the legacy replacement cycle is broader than just people moving from the legacy marketing clouds into more advanced platform like Braze. There’s also a lot of legacy point solutions that are out there in the email marketing space and there is a kind of a broad away or array of tools that have been deployed over the last 10 to 15 years that are not just the usual suspects of Salesforce Marketing Cloud or the Adobe Experience Cloud or the Oracle Marketing Cloud. And we spoke about this last quarter, I think we continue to see it, which is that, when you look across the rest of that legacy landscape, I think that those aforementioned legacy marketing clouds were actually hovering up a good portion of the legacy replacement cycle across those other tools before.
I mean Braze didn’t have as much mind share or market share awareness amongst those buyers. I think that’s pretty fundamentally changed over the last probably call out the last 12 to 18 months. Certainly, the notoriety of having gone public helped with that a lot of — that we’ve done in our ecosystem strategy with our partners, looking at the GSIs and our partnership with WPP and just continuing to expand and get our — get the Braze brand and Braze product awareness into more corners. And I think we’ve also seen some of the shine come off of those legacy marketing clouds too as buyers have started to understood — or understand more deeply that they are antiquated data processing architectures and destroying capabilities they have across their multiple channels, but not coordinated seamlessly across channels.
That — those are differences that really matter. And so that is really helping. And then, obviously, we also continue to have the inflow from the legacy marketing clouds as marketers and product teams are trying to be able to act on data and more real-time be able to bring together more of these channels and more of the use cases. I think that one thing that always helps there is when we continue to add net new channels very quickly, if you want to be able to send WhatsApp, if you want to be able to do the Audience Network integrations, you want to be able to coordinate those things in real-time and have them be triggered by not just actions within their silo but be able to cross coordinate the data inputs across disparate platforms and product interfaces and actually then deliver in these other channels, many of which are new or expanding quickly, these are all the catalysts that really get you to move on from your old strategies.
There’s also a lot that’s just happening in the broader landscape that is starting — continuing to put pressure on it. So if you look at things like Apple mail privacy that launched or the app tracking transparency, changes that continue to gain CE more — the continued deprecation of cookies like, these are all things that have made operating siloed software much harder. You’re like flying more and more blind over time unless you’re meaningfully integrated into the product journey. And similarly this — lot of the changes that are happening around things like email deliverability, you look at a lot of the kind of spam filtering that’s getting more aggressive even in channels like SMS or in notification centers, or push notifications, all of these create increased returns to sophistication for marketers.
And they make it so that if you’re still just running the same basic strategies, they are less and less often even getting in front of your end consumer’s eyeballs. And so just staying in place and continuing to use this old software is not just holding steady, it’s actually actively deteriorating. And I think when people wake up to that, they don’t find an ability to actually evolve the sophistication of their strategies in that old software and they need to upgrade to some more like Braze.
