Powered by Experience iD, Qualtrics Frontline Innovations Bring Digital Behavioral Data Natively to the World’s Leading Experience Management Platform

Rhea-AI Summary

Qualtrics (NASDAQ: XM) has launched two new Frontline Digital solutions: Customer Journey Optimizer and Digital Experience Analytics. These tools gather extensive customer behavior data from various touchpoints, leveraging AI to uncover major sources of frustration and satisfaction. With 80% of consumers switching brands due to poor experiences, addressing these pain points is crucial, as negative experiences can cost companies 8% of annual revenue. The new solutions aim to enhance customer satisfaction and loyalty by automating actions based on real-time insights. Currently, both solutions are in private beta.

Positive

• Launch of Customer Journey Optimizer and Digital Experience Analytics enhances service offerings.
• Solutions use AI to pinpoint areas causing customer frustration, potentially improving customer retention.
• Ability to automate actionable insights could lead to increased revenue and customer satisfaction.
• Addressing customer experience issues can mitigate revenue losses linked to negative experiences.

Negative

• None.

New Customer Journey Optimizer combines behavior, experience and operational data in Qualtrics Experience iD to help teams take action and remove friction across any frontline journey, accelerating revenue and reducing costs

New Digital Experience Analytics identifies the meaning behind behavioral frustration signals so frontline digital teams can understand the ‘why’ behind digital behavior

SALT LAKE CITY--(BUSINESS WIRE)-- QUALTRICS X4 – Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced two new Frontline Digital solutions—Customer Journey Optimizer and Digital Experience Analytics. These new solutions capture billions of data points based on customer behavior across human and digital touchpoints like customer service calls, website visits, or social media engagements, and use artificial intelligence to identify the biggest sources of frustration and satisfaction to help teams prioritize the right actions to take to improve their customer experiences.

Eighty percent of consumers have switched brands because of a bad experience, and for more than half of those people, it took just one bad experience to make the switch. Negative customer experiences cost companies an average of 8 percent of their annual revenue, so it’s critical that they get their frontline interactions right.

The Qualtrics platform can now natively capture, analyze and automate actions based on first-party digital behavioral data, as well as every form of customer feedback – including call center transcripts, social media posts, product reviews and survey responses – all on a single platform. Through Experience iD, companies can leverage all this information to deeply understand key moments on all their channels and trigger automated actions to help customers complete their journey. This game-changing innovation will help companies increase customer satisfaction and loyalty, drive engagement, and fuel growth.

“Billions of dollars in revenue are lost every day due to poor digital experiences,” said Qualtrics President of Product and Engineering Brad Anderson. “Qualtrics’s new frontline digital solutions help leaders understand the ‘why’ behind digital behavior, and help companies know with certainty what to do next to accelerate customer acquisition and remove friction that’s resulting in lost customers and lost revenue.”

Qualtrics AI-Powered Insights Optimize the Customer Experience at Every Frontline Touchpoint

Qualtrics Customer Journey Optimizer, which is built into Qualtrics Experience iD, identifies key moments and points of friction that may prevent a customer from making a purchase or reaching another goal. The solution can quantify the revenue impact of any issue and redirect the customer proactively.

For example, a bank sees a large number of customers abandoning new account applications. Customer Journey Optimizer creates a single omnichannel view of the entire journey to show them exactly why and where the breakdown is happening, as well as the impact to their business, such as lost revenue or service cost. The bank can also see how the issue is impacting various types of customers across different channels and orchestrate the best response to increase customer acquisition, drive higher retention, and provide the highest levels of support.

Digital Experience Insights and Intelligent Recommendations Drive the Right Actions

Qualtrics Digital Experience Analytics creates a visual replay of consumers’ behavior during their web experience, capturing key frustration signals like error clicks, rage clicks, and mouse thrashes. Digital Experience Analytics uses Qualtrics AI to identify the most relevant session replays, enabling brands to act quickly to support customers, prevent lost revenue and increase customer satisfaction. Built-in privacy controls help organizations stay compliant with data privacy regulations, while personalizing and improving their customers’ digital experiences.

For example, imagine a person trying to buy a car online has added all their desired features but the “confirm options” button won’t work. They may start “rage clicking” or moving their mouse rapidly across the page out of frustration. Digital Experience Analytics sees that behavior and immediately triggers a workflow within Qualtrics. A pop-up appears offering assistance. The agent starts the conversation with the full context they need, including journey information from Customer Journey Optimizer and customer information through Experience iD. All of this together means the likelihood of a positive outcome is much higher and an abandoned customer journey is avoided.

Enriching Qualtrics Experience iD with Digital Behavior Data

Qualtrics Experience iD is a single, unified view of everything customers and employees have shared with a company—things they want a company to know about them––including their preferences and feelings about their experiences with the product or brand. Experience iD enables companies to personalize experiences at scale—giving them granular insights about individuals, while also delivering powerful aggregated views by segment, such as teams, geographies, verticals and more, to identify emerging trends and new market opportunities. Customer Journey Optimizer and Digital Experience Analytics will enrich Experience iD with journey context and behavioral data, providing the most comprehensive view of a customer's experiences with a company.

Availability

Customer Journey Optimizer and Digital Experience Analytics are available in private beta today. Learn more here.

About Qualtrics

Qualtrics, the leader and creator of the experience management category, is a cloud-native software provider that helps organizations quickly identify and resolve points of friction across all digital and human touchpoints in their business – so they can retain their best customers and employees, protect their revenue, and drive profitability. More than 18,750 organizations around the world use Qualtrics’s advanced AI to listen, understand, and take action. Qualtrics uses its vast universe of experience data to form the largest database of human sentiment in the world. Qualtrics is co-headquartered in Provo, Utah and Seattle, and operates out of 28 offices globally. To learn more, please visit qualtrics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005104/en/

Tyler Petersen, Qualtrics

press@qualtrics.com

Source: Qualtrics

FAQ

What new solutions did Qualtrics announce?

Qualtrics announced the launch of Customer Journey Optimizer and Digital Experience Analytics.

How do the new solutions benefit businesses?

They help businesses identify and address customer frustration, likely improving satisfaction and increasing revenue.

What is the significance of poor customer experiences according to Qualtrics?

80% of consumers switch brands due to a bad experience, costing companies an average of 8% of annual revenue.

When will Qualtrics' new solutions be available?

Customer Journey Optimizer and Digital Experience Analytics are currently available in private beta.

What data do the Qualtrics solutions analyze?

They analyze behavioral data from customer interactions across various digital and human touchpoints.