How to make X-Data your competitive advantage
At X4 2019, we’ve heard from the pioneers making Experience Management (XM) breakthroughs that have seen them race to the top — brands like Under Armour, AMEX, Spotify and Nordstrom to name just a few.
These brands have equipped their businesses with the tools they need to turn Experience Data (X-Data) into a competitive advantage.
And those who didn’t, have sunk to the bottom.
In the last 15 years, 52% of Fortune 500 companies have disappeared - big brands like Sears, Pontiac and Kodak who were once at the very top of their game.
Breakthroughs are the only way to survive. If you’re not constantly searching for breakthrough insights in your industry then someone else is. And they’re about to disrupt you.
So how do you maintain your competitive advantage, or steal in and disrupt established competitors?
It all comes down to standardization and having a single system of insights for the entire organization.
Building this capability means your product team knows which features will land best with customers; your marketing team knows the right price point; and your frontline staff better understand customers and deliver a better experience... there’s not a single team in an organization that can’t transform around XM.
Employees just need the right instruments.
Not everyone’s an expert. Give them the technology to be one
If you’re going to instrument the entire organization with the tools to deliver on XM, you need to make it easy — this can’t remain just the domain of expert researchers.
At Qualtrics we’re doing exactly that with XM Solutions, which democratizes breakthroughs by allowing anyone in the organization to launch expert-designed projects in just 3 simple steps.
Want to test a product concept? There’s an XM Solution for that. Want to understand how employees view your corporate responsibility efforts? There’s an XM Solution for that. Want to understand which touchpoints are crucial in building customer relationships? There’s an XM solution for that.
Organizations can now build their own solutions on the platform too, and make them available to all their employees. We saw from Chobani at X4 2019 just how powerful that is.
Breakthroughs only come with quality insights
Standardizing your insights and research is just the start - to embed it in the culture of your organization it needs to deliver quality insights.
When we launched Expert Review at X4 in 2018 organizations loved it. Within a year, 80% of our customers were using it.
Now, Expert Review has got even smarter. It now scrubs each and every piece of X-Data in real time and automatically detects and flags response quality issues - like speeders, cheaters and bots.
Stay on the right side of data privacy laws
But Expert Review goes way beyond just data quality. When you’re collecting sensitive data about customers or employees many organizations balk at the idea of opening it up to employees, particularly given the recent tightening of data privacy laws and the heavy penalties for non-compliance.
Now, the same Artificial Intelligence that’s helping anybody become a research expert is helping them work within with data privacy rules too.
Expert Review is now smart enough to identify things like personally identifiable information (PII), such as your phone number or ZIP code, and flag to your teams when they are collecting sensitive data.
If they decide to go ahead anyway, it tells the person taking the survey too before they submit. And if they still submit it, Expert Review will redact PII in the results.
So when organizations standardize their X-Data, they can rest assured that opening it up to the organization doesn’t mean sacrificing control over data privacy and security.
Learn more about our Privacy and Security announcements here
Delivers experiences from end to end
When multiple teams are all collecting insights in different ways it’s easy to lose control.
How would your marketing team know if a customer they’re surveying has already had two surveys from your product team this month? Or how would your customer care team know that the person they’re on the phone with has already explained their issue to another team in the organization?
That’s why we launched XM Directory - a single system of record for all your X-Data. Every customer interaction, regardless of which part of the business it’s with, is all stored in one place.
Register for X4 2020
July 2, 2020
How to find your competitive advantage in times of change and uncertainty
April 21, 2020