#qualtrics

- By InnoNurse Staff -

Customer engagement software company Qualtrics announced plans to acquire healthcare market research firm Press Ganey Forsta for $6.75 billion, combining Qualtrics’ AI technology with Press Ganey’s healthcare analytics and expertise.

Historically, organizations kept employee experience (EX) separate from their customer experience (CX) initiatives, costing them uncontrolled attrition and poor customer loyalty. At the Qualtrics X4® 2024, we connected with the global leaders from the Experience Management (XM) industry. These XM practitioners shared their insights on how organizations can use Artificial Intelligence (AI) to deliver human-like experiences across multiple touchpoints. We will tell you how popular brands use Qualtrics XM solutions to establish a real “human” connection with customers and employees to showcase their values, innovation, and ethics.

Experience Management: An Introduction to New-age Business Values

It’s true that organizations still suffer from an “experience disconnect.”

According to a PwC report, 54% of US-based consumers feel the customer experience offered by most organizations needs improvement — There’s an experience gap that prevents brands from becoming iconic entities despite meeting the baseline expectations.

For most parts, these brands deliver products and services that exceed the parameters linked to speed, consistency, convenience, and friendliness. However, there is no assurance that they will still be considered “experience champions” or leaders as the experience gap widens each time we discuss the trends.

The reason?

Currently, organizations are “flying blind” with their experience management strategies. The experiences are disjointed due to the lack of shared vision and efforts. Leaders at the helm lack the initiative to connect the customer experience with the employee experience. They lack the edge to take on new demands arising in the AI-led experience management landscape. In 2024, companies have fewer chances to get it right with “Experience Management.” Say less than one, especially if you haven’t begun your experience journey to figure out the gaps in the GenAI era.

Why Do Organizations Need a CEX-y Makeover in 2024?

When CX and EX work together, organizations reap incredible results from this ‘connected’ XM approach.

If the customer is king, then your employees are the king-makers. Give customers what they want and they will buy more, and come back again. Give employees what they want, and they will stay and perform better. Along the same thought, customers and employees behave similarly and have similar aspirations when they talk and act with humans and technology-powered assistants like chatbots and IVAs. When organizations listen and respond to their talks and actions, customers and employees naturally become your biggest champions and advocates.

World-renowned brands such as Porsche, DISH, Adidas, and Hyatt have figured out one thing is essential to their existence and growth — CX + EX, embedded into their organizational culture. They have mastered the Connected XM. We knew them for their managerial expertise, sustained by human efforts, in bringing together CX and EX under one roof. Last week, we heard them narrate to the experience management industry how adequately they match and exceed expectations using technology.

Thanks to Qualtrics!!!

AI at Qualtrics is not something that was cooked up in the last six months to impress customers and users. The experience management solutions provider has been working on its AI roadmap for the last four-and-a-half years, CEO Zig Serafin revealed during his opening keynote last week at the X4 Summit.

“Making businesses more human using AI” emerged as the highlight of the event showcasing how Qualtrics customers and product leaders are working with powerful new capabilities of the XM Platform. Powered by Qualtrics AI, an XM-specific AI specialized in human connection and purpose-built to get you closer to your customers and employees. For years together organizations have attributed their success to delivering high-quality customer experience (CX) in the physical and digital realms. At Qaultrics X4  Summit, we witnessed the role employees play in taking CX efforts to new heights. New technologies can now support customer-facing employees to collect, track, and analyze conversations and sentiments for personalizing CX across different touchpoints.

With AI at their fingertips, CX leaders can empower their employees with superior EX that directly impacts how organizations can increase productivity, retain talent, improve products, and optimize customer support. All these, together with EX and CX ingredients powered by AI, drive revenue and strengthen organizational culture.

How Did Brands Embrace a CEX-y Makeover Using Qualtrics?

At the X4 Summit, eight companies stood apart from the crowd by revealing their true business value through exceptional CX and EX initiatives. They were bold, creative, and honest about their XM efforts, and that was visible in the way they reaped benefits from investing in XM solutions to build human connections for their businesses.

DISH Network

With the help of Qualtrics, DISH recorded a 10-point NPS increase within a year. It also reduced customer churn by using Qualtrics’ insights. Its cutting-edge approach to using Qualtrics AI to collect and analyze video feedback is helping agents uncover new customer insights from unstructured data. These insights are directly connected to business-wide improvements that are further cultivated to design and operate a customer-centric culture.

On Day 2 of the X4 Summit, I spoke to Christina Sansone, vice president of CX transformation at DISH Network VP of CX transformation. Customers have a strong affinity toward brands that offer them a great CX at all touchpoints. DISH Network’s customer-centric culture is a living example. I asked Christina how her organization uses AI-powered video surveys and feedback software for sentiment and emotional analytics.

How has an XM solution provider like Qualtrics truly enabled DISH to meet its CX objectives?

Christina said, “Customers have to continually engage with your product to know they are getting value from it. When customers stop engaging, something is wrong.”

“We piloted an XM campaign (with Qualtrics XM Video Feedback) last year for our NPS survey. Within two weeks, we had roughly 100 videos come back to us. We were just shocked (with the results)! The pilot proved that our customers understood technology and wanted to send us the video feedback. It was a very relevant piece of information. We used the videos a lot of time to emphasize the specific points or parts of the customer journey. We do analysis of the customer experience. We talk to the customers to understand what can be done to improve the experience… But when I play the videos, and show them what the customer said, it makes it all so real. You can’t argue with the customer from that perspective,” added Christina. 

Qualtrics, the software company behind an experience management platform used by thousands of companies such as Uber, Coca-Cola, and Pfizer, has accepted a $12.5 billion all-cash offer from private equity firm Silver Lake and Canada Pension Plan Investment Board (CPP Investments). The confirmation comes exactly a week after news of the acquisition bid first came to light, and some two years after…