How Global Brands Benefited from Qualtrics’ Great Customer Experience Management
The concept of Customer experience management (CEM or CXM) has undergone a massive transformation in the recent years. We use Bernd Schmitt’s definition of ‘customer experience’ to evaluate the trends and developments in the industry. Schmidt defined customer experience as “the process of strategically managing a customer’s entire
experience with a product or company.” (Schmidt, 2003)
In 2005, CEM strategy was considered to be the “single most important aspect” in driving success across industries (Peppers and Rogers).
By 2020, billons of dollars had been pumped into CXM technologies to posit this reference made in 2005, which ensure that CXM users were actually earning a significantly high ROMI from these initiatives. With the rise of AI, marketing analytics and automation, delivering CXM has become a complex play of science, creativity and marketing acumen. Qualtrics, a leader in CXM space, distinctly scores very high on CXM delivery when we analyze its impact on the marketing operations and processes of a business that cares to meet the needs of the individual customer in real-time.
The last two years have been extremely difficult period for a majority of the businesses. In this challenging business environment, Qualtrics has helped global brands increase their investment in customer experiences and in return enable these users to build a deeper and more meaningful relationships with stakeholders through superior analytics and reporting tools.
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Why Brands Leverage CXM
Today’s companies are facing a number of headwinds, including supply chain disruptions and inflationary pressures. In times of uncertainty, understanding the real-time needs of customers is even more valuable. Qualtrics allows organizations to uncover unmet needs and take action to create the products, services and experiences their customers want. Apart from its market positioning in the martech space as a CX leader, it also ranks highly on Gartner’s Magic Quadrant for the category “Voice of Customer (VoC). VoC and CXM go hand-in-hand, as far as technological integrations and ROMI from martech stacks are concerned. VoC software enables CXM service providers to enhance the ability of martech users to listen, understand and engage customers, which in turn, enhances the overall customer satisfaction, drives customer loyalty and provides measurable business benefits (Gartner).
Today, Qualtrics CustomerXM™ helps companies of all sizes drive engagement and build loyalty with new and existing customers at scale. Its products and solutions and industry leading expertise allow every team along the customer journey – from CX leaders to frontline employees – to transform organizations’ customer experience programs to systems of action.Microsoft, SumUp, Kroger, Google Cloud, and EY were among customers who chose Qualtrics to help them listen, analyze and act on feedback from all sources to build deeper relationships with stakeholders.
Brad Anderson, Qualtrics President of Products and Services said –
“Customer experience is top of mind for every leader–they’re all trying to find and keep customers, and we give them the ultimate advantage by helping them build deep, personal relationships. With Qualtrics, they can uncover unmet needs and build the products, services and experiences customers want. And we help them do that with empathy, speed, and scale.”
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What Qualtrics Offers to Global Market
Qualtrics has a XM product for each department and function in an organization. Its XM suite consists of:
- CustomerXM
- ProductXM
- DesignXM
- EmployeeXM
- BrandXM
- XM Services
Qualtrics has also partnered with Temkin Group to create a unique XM-centric business training and learning ecosystem called the Qualtrics XM Institute for business professionals from Marketing, Sales and Customer Services industries.
New Qualtrics research, embedded and available within the DX Metrics, shows that increasing a customer’s satisfaction score can increase their spending by up to 37%. Reducing the effort required to complete a task online can lead to a 23% increase in their spending.
Technology is the Backbone of CXM Industry
Qualtrics continues to develop new innovations in CXM that drive deeper customer relationships.
As customers increasingly interact with companies through digital channels, businesses need a new approach to building deeper customer relationships by measuring how each customer feels about their digital experience and understanding where to take action.
While online channels are inherently transactional, customers are more likely to come back when the experience is effortless and evokes a positive emotion. Digital Experience Metrics, built into Qualtrics CustomerXM, includes a set of scientifically validated questions that measure three key aspects of any digital experience: emotion (measured by customer satisfaction), effort (measured by how easy or difficult was it to complete a task) and success (measured by task completion).
This validated approach to measuring the three core aspects of the digital experience helps companies benchmark and compare their metrics against similar organizations in their industry, giving brands better visibility into their performance and opportunities to increase revenue. It also includes dashboard templates and recommendations to help marketing and product leaders understand how certain factors, such as the account creation process or web checkout user experience improvements, impact customer sentiment the most, and which actions they can take to improve each factor.
How Brands Leverage Qualtrics XM for their Business Operations
BMW
Leading automaker BMW uses Qualtrics XM to enhances its brand image beyond its already renowned auto manufacturing and driver experience. Today, it leverages Qualtrics XM to reengineer its CX program and drive increased repurchase and return service rates. In North America, BMW worked with Qualtrics to drive new workflows for ensuring that experiences are measured via an automated questionnaire. This enabled the CX teams at BMW to garner real-time insights from the platform and forward these to the business intelligence team and the entire dealer network for a superior product experience.
Similarly, EY has chosen to deploy XM Discover broadly across their organization. With Discover, EY will use advanced conversational analytics to understand customer and internal interactions to deliver even better services and outcomes for its clients. This investment reflects the dramatic growth and success of EY’s Experience Management practice and further enhances their ability to deliver unique, high value, enterprise XM solutions to their clients.
Another technology behemoth, Google Cloud delivers advanced conversational analytics for its B2B customer base using Qualtrics XM Discover. Google Cloud has been able to aggregate, categorize and prioritize all unstructured Google Cloud customer feedback in one platform- Qualtrics Discover
Qualtrics, currently, provides unbiased data and actionable insights about top customer pain points and objectives in 200 countries and territories. Now Google Cloud teams across the different geographical locations have additional data points for making business decisions based on what customers are telling them.
Kroger, the nation’s largest grocer with nearly 2,800 stores, expanded its relationship with Qualtrics in Q1. During the pandemic, Kroger led the way in connecting with their customers through new digital initiatives and leveraged Qualtrics insights to improve their experience. Now, with XM Discover, Kroger will have advanced machine learning to parse through social media data to understand what is important to customers at a given moment. It’s just another way Kroger is deepening their relationship with customers.
Microsoft selected Qualtrics in Q1 to deliver a holistic view of customer interactions to identify and improve points of friction, measure customer feedback, and support sales of Microsoft Surface devices.
Pos Malaysia Berhad selected Qualtrics CustomerXM to guide and accelerate its ongoing digital transformation aimed at making it simpler for customers to connect with the company and enhancing operational efficiencies. With Qualtrics, Pos Malaysia will use customer feedback to modernize and expand its retail services and offerings in its more than 900+ branches as well as its website and mobile app.
Grubhub, a leading U.S. food-ordering and delivery marketplace, is moving from separate and siloed customer feedback systems to one unified experience management platform with Qualtrics. With Customer Experience and DesignXM, they’ll be able to deeply understand the experiences their drivers, diners and restaurant partners are having with the company. The ability to understand how they’re performing with each of these key audiences will enable them to make necessary adjustments to support operational success and growth.
SumUp, a leading financial technology company used by over 3.5 million businesses globally, began using Qualtrics in Q1 to better understand how to quickly deliver solutions its customers want and need. The insight collected through Qualtrics CX and BX enables SumUp to better understand its customers’ perception of its brand so it can adapt and grow.
- Bernd H. Schmitt, (2003). Customer Experience Management: A Revolutionary Approach to Connecting With Customers. Hoboken, New Jersey, USA. John Wiley and Sons.
- Peppers, D., & Rogers, M. (2005). Return on customer: Creating maximum value from your scarcest resource. Doubleday/Currency.
- Qualtrics
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