Qualtrics Unveils Next Wave of Experience Management Innovations that Transform Organizations' Listening Programs into Systems of Action
Introducing capabilities and enhancements to the Qualtrics XM Platform that facilitate taking action with enhanced analytics, data management and governance, and automatic trends and metrics tracker
Five purpose-built Qualtrics CustomerXM products empower every team along the customer journey drive greater customer engagement, increase conversion and retention, and improve brand loyalty and perception
Oct 26, 2020, 08:00 ET
SALT LAKE CITY and SEATTLE, Oct. 26, 2020 /PRNewswire/ -- Qualtrics, the leader in customer experience and creator of the experience management category, today announced several solutions, capabilities, and enhancements to the Qualtrics XM Platform™ that powers the four core experiences of business: customer, employee, product, and brand. These innovations enable organizations to significantly scale their existing experience management programs by becoming systems of action that proactively identify and automatically close experience gaps to improve customer retention, increase employee engagement, and drive brand loyalty.
"Organizations have relied on traditional systems of measurement for years. Today, that's no longer enough to create differentiated customer, employee, product, or brand experiences at a time when expectations and preferences are rapidly changing," said Scott Fynn, Senior Director of Product Management, Qualtrics. "Qualtrics has made it simple and efficient for organizations to move into systems of action with customizable capabilities and purpose-built solutions to deliver personalized experiences for all stakeholders – on one single platform."
New enhancements to Qualtrics XM Platform include:
- With customer, employee, and other stakeholder feedback coming from disparate channels and across departments, it has become difficult and time-consuming for leaders to distill insights, identify the gaps, and take action. Trend Based Actions constantly monitors trends in key performance indicators across the organization, and automatically triggers notifications and recommendations for specific and effective actions if they drop below a certain threshold. It eliminates the manual process of spending hours sifting through feedback by immediately notifying stakeholders when key metrics, such as CSAT or employee engagement rates, change, or when trends suddenly shift.
- Qualtrics XM Directory hosts the full history of a customer's interaction and behavior with a brand to power personalized experiences. Now, XM Directory comes with Segments, a solution that gives organizations the ability to build dynamic customer segments, based on their preferences, feedback, behavior, spending habits and other indicators. With Segments, stakeholders can provide their customers with deeply personalized experience with products, offers, and communications that are tailor-made to their needs, increasing satisfaction, and closing their unique experience gaps.
- As part of Qualtrics' continued efforts to provide organizations with more governance tools and democratization, they've introduced Role Based Access for XM Directory. Stakeholders can now establish granular access for individual users based on role and level at the organization.
- Relative Importance Analysis (RIA), an analytics technique often used by data scientists and statisticians, is now built into Stats iQ. RIA, with intuitive and easy to interpret results, makes it easier for anyone to uncover key drivers and the root cause of poor experiences.
Introducing Five Purpose-Built Customer Experience Products
Customer experience programs today require flexibility, agility, and personalization that reflect the individual preferences and expectations of every customer. Traditional CX programs are built on a one-size-fits-all approach that makes it difficult for organizations to create lasting customer engagement and retention, and ultimately, brand loyalty.
Qualtrics has introduced five purpose-built CX products for every team along the customer journey – from frontline employees to CX leaders – to transform organizations' CX programs to systems of action:
- CustomerXM for Digital: Consumers have moved online at an exponential rate, which has placed the entire digital experience under more scrutiny than ever. CustomerXM for Digital pinpoints organizations' digital gaps and proactively identifies focus areas for optimization in order to create engaging experiences that improve customer conversion, retention, and brand loyalty. For example, CustomerXM for Digital surfaces insights and recommendations about an organization's digital content and how it can be optimized to influence customers' purchase decisions – instead of measuring digital content success based on clicks or shares compared to traditional programs.
- CustomerXM for Customer Care: 78% of consumers will permanently change the way they feel about a brand based on a single interaction with a company's contact center. CustomerXM for Customer Care improves customer support delivered through contact center and field service delivery by starting with the agent experience and understanding customer feedback from frontline employees, email, messaging, voice, and other channels. Qualtrics combines this experience data with operational data from an organization's existing CRM system to create a customer care experience based on an individual's communication preferences, previous support history, account status, and more. By leveraging Qualtrics, organizations can reduce customer acquisition and support costs and increase agent productivity and retention.
- CustomerXM for Account Management: B2B companies are at risk of increased churn and reduced revenue. According to research by the XM Institute and Walker, B2B companies have significantly less mature CX programs than B2C companies, but their customers still expect B2C-level experiences. CustomerXM for Account Management enables B2B organizations to optimize sales drivers that help create more engaging and profitable customer relationships. Qualtrics provides specific win/loss insights that integrate with existing CRM data to provide a holistic view of any customer account, including health scores, to help account managers take action at the moments that matter most.
- CustomerXM for Locations: Companies with physical locations have never seen a more rapid shift in business models than this year with the pandemic, and this has accelerated the pace of change for organizations to better connect their online and offline experiences (such as curbside pick-up or contactless servicing). CustomerXM for Locations enables businesses to adapt to changing preferences and expectations of customers and their frontline employees to improve the physical location experience, which is one of the most high-value customer touchpoints.
- CustomerXM for Foundational CX: This product creates the building blocks of CX success by providing insights into your organization's relational and transactional NPS, CSAT, CES (customer effort score), and more. Foundational CX identifies the root cause of broken experiences, surfaces focus areas for improvement, and creates expectations for success that lead to lasting business impact.
All Qualtrics CustomerXM products leverage the innovations on the XM Platform, such as the Qualtrics iQ engine for real-time predictive analytics, XM Directory for personalizing customer interactions, and automated actions and workflows that help organizations take action on the focus areas that will most impact their business.
Optimizing IT Technology to Drive Better Employee Experiences
IT executives and leaders have a growing and more visible role in fostering great experiences that improve employee productivity which can lead to greater engagement and retention. EmployeeXM for IT is designed to close gaps across an organization's everyday technology experience and their employee end-users. The solution helps IT leaders understand how various technology investments, implementations, and support services impact employee sentiment and productivity by putting the voice of the employee at the center of every interaction and technology decision.
To empower organizations with more flexibility and choice, the Qualtrics Partner Network now includes more than 300 partners and 100 out-of-the-box integrations across 30 categories. Qualtrics' partners have built innovative solutions on the Qualtrics XM Platform to help organizations take further advantage of experience management by connecting Qualtrics to customers' existing technology stacks. Learn about the latest partner innovations here.
For a comprehensive view of the innovations to the Qualtrics XM Platform, visit qualtrics.com/blog/xm-product-updates/.
Qualtrics, the leader in customer experience and creator of the Experience Management (XM) category, is changing the way organizations manage and improve the four core experiences of business––customer, employee, product, and brand. Over 12,000 organizations around the world are using Qualtrics to listen, understand, and take action on experience data (X-data™)––the beliefs, emotions, and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love, and build a brand people are passionate about. To learn more, please visit qualtrics.com.
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