Ushering in a new era of experience management with Experience ID
When it comes to making business decisions, in the past many organizations have taken an inside-out approach. They look to signals like growth metrics, competitive innovation, employee productivity, etc. to define their product, business, and people strategies.
All too often, this inside-out approach leads to solutions that are disconnected from customers’ and employees’ needs. It’s a well-told example of a company that spent years innovating and perfecting a single product, keeping everything closely guarded amongst its internal teams, only to find that a smaller competitor beats them to the punch with a more advanced solution.
Why? Because those smaller companies took a different approach — they operated from the outside-in, with a closer pulse on customers.
In a world where the time to get a product or service to market has been dramatically reduced, and where switching costs are trending near zero, it’s no wonder that 72% of consumers say they will switch brands after just one bad experience, 86% of them will post about negative experiences on social media and nearly two-thirds of workers are looking for new jobs.
In today’s environment, customers and employees are empowered to share their experiences and expectations with anyone, on any channel, at any time — the volume of indirect and unstructured feedback being volunteered by people through social media, reviews, and many other channels is growing at an unprecedented pace. The companies that win in the current environment will be the ones that can use all that data — both structured and unstructured — and feed these rich signals into their business, product, and employee strategies.
These are the companies that will transform how they operate to take an outside-in approach to identify what to build next, what gaps need to be fixed, and what products to sell.
A connected, intelligent system for Experience Data
We’re extremely excited to announce Experience ID, a single system that uses conversational analytics, machine learning, and journey orchestration to help organizations identify and root out each and every experience gap in their business, and identify new opportunities for growth.
Experience ID maps all direct and indirect signals to an individual’s end-to-end journey to create intelligent profiles that detail every interaction, need, and emotion at each stage in the journey for every customer and employee. It then uses that information to automatically uncover experience gaps, personalize experiences at scale, and surface new opportunities to drive growth, increase customer lifetime value, and improve employee engagement.
It’s an innovation that brings together the best of Qualtrics’ product advancements in machine learning, workflow orchestration, segmentation, and data governance with new technology we’ve brought in through the recent acquisitions of Clarabridge, the #1 platform for collecting and analyzing indirect and unstructured feedback, and Usermind, a leader in journey orchestration that enables companies to reduce friction at every touchpoint of the customer journey.
This combination enables you to listen and respond to your customers and employees as either individuals or entire segments in real-time and to optimize your offerings and personalize experiences at scale across any channel.
It also enables you to identify precise friction points or experience breakdowns, so you can take real-time action to close the loop and develop new strategies to keep customers and employees happy and engaged.
Organizations have been trying for decades to deepen their understanding of their customers and employees. Experience ID and Experience Management enables organizations to build deep relationships with their customers and employees by integrating with and complementing an organization’s systems of record.
Hear every signal, and build richer experience profiles
With Experience ID, you’ll be able to combine direct (zero party data, survey data) and indirect (social posts, product reviews, call center transcripts) feedback with operational data in a single, unified view of everything customers and employees have shared with your company over time.
For example, a bank could use Experience ID to gather feedback a customer has shared through the company's mobile app, on a call with customer support, and on social media.
Experience ID’s conversational analytics can parse through all this data and instantly surface a key insight about that customer, say they recently opened a business account, frequently use the ATM, and love travel cards.
This could then be used to trigger a business loan offer the next time they visit the ATM and to automatically issue a promotion for a new travel card within their mobile app experience.
Experience ID gives them the tools to personalize the experience for every individual. But it’s not just about the individual — Experience ID also recommends actions that can impact large numbers of customers too.
All the data coming in is automatically analyzed and tagged with key topics, so the company can instantly see emerging trends at a segment level. It understands that if there’s something large numbers of customers talk about frequently, it’s a potential growth opportunity for the company to design a new experience for that segment.
Improve the experience at every touchpoint, on every journey
With Experience ID, you can connect ALL your experience data and operational data in a single, unified platform painting a 360 degree view of the customer or employee. But it doesn’t stop there. This data is also combined with experience journeys, so you can see the “what” and “why” at every touchpoint for every customer, employee, or segment.
And because Experience ID looks across large groups, it enables you to see the touchpoints in the journey causing the most friction and automatically identifies the right actions and improvements for the segments.
For example, a rideshare company can visualize a segmented journey and see that 45% of riders in a high-spend segment had a negative experience during account creation. They can then drill in to see that 41% of them were falling out when asked to add a payment. Experience ID immediately alerts them when this is detected and automatically issues a push notification to the customers encouraging them to complete their setup.
Experience ID gives companies the ability to proactively design solutions that impact entire segments of customers, and they can prioritize their actions knowing exactly who it will impact, how, and what it will do to engagement, retention, and spend.
Identify new opportunities for growth
Experience ID is one of the foundational components of the powerful XM Operating System and is seamlessly integrated with Qualtrics’ native analytics suite, iQ™, and workflow orchestration engine, xFlow™.
So you can use this newfound ability to understand customers and employees like never before to go beyond just fixing problems, and use it to discover new opportunities.
It scans through billions of signals coming in and automatically surfaces insights, highlighting topics your customers frequently talk about, flagging unmet needs, and underserved segments in your customer and employee populations and then giving you the tools to create a seamless loop between insight discovery and experience design.
For example, Experience ID can monitor a healthcare system’s patient feedback over the past 18 months and show that there is a growing demand for permanent virtual healthcare services. Experience ID can pinpoint which patient groups might prefer specific virtual services over others in different regions, telling the company exactly where they should invest in new digital offerings, and where they need to increase office staff for in-person visits.
In the era of Experience transformation, where customers and employees share rich signals with companies every second of every day, Experience ID is the only solution on the market that brings all of these signals together with operational data, experience journeys, conversational analytics, and Enterprise-grade security and governance in a single system.
Experience ID is how any business can identify new opportunities, identify emerging trends in the market, or identify new markets to sell into. In the new era of experience transformation, Experience ID is the tool that will help any business know exactly how to grow.
Learn more about Experience ID on our website or reach out to your Qualtrics representative.
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