XM Knowledge Base
IntroducingExperience Management
What is Experience Management? (XM)
New technologies are redefining business models and shortening product lifecycles. In this environment, organizations need to better understand and cater to the needs and expectations of the people they touch—from employees to partners to customers.
That’s what Experience Management (or “XM”) is all about. XM is the discipline of designing and improving the four core experiences of business: customer, employee, product, and brand.
An ever-increasing flow of information is shifting power from institutions to individuals. At the same time, new technologies are redefining business models and shortening product lifecycles. In this environment, organizations need to better understand and cater to the needs and expectations of the people they touch—from employees to partners to customers.
That’s what Experience Management (or “XM”) is all about. XM is the discipline of using both experience data and operational data to measure and improve the four core experiences of business: customer, employee, product, and brand.
What does XM look like in practice? Companies that master XM will continuously learn what customers and employees are thinking and feeling, they’ll propagate those insights to people across their organization in a form that allows them to rapidly adapt to any changing needs and expectations. They will not only solve customer and employee issues quickly, they’ll avoid many problems before they even occur.
In addition, these companies will consistently identify opportunities for differentiated offerings and breakthrough experiences. XM leaders won’t just do this once or twice. This capability will be ingrained in how they operate ALL THE TIME.
How can organizations adopt the XM discipline? By applying what Qualtrics XM Institute calls the XM Operating Framework. This Framework is made up of three components: Technology, To consistently deliver XM at scale, organizations need a platform that is capable of collecting, analyzing, and distributing insights. Organizations need a platform that is capable of collecting, analyzing, and distributing insights.
Competency. To gain value from XM, organizations need to alter how they operate, developing new skills for uncovering and acting upon insights.
Culture. For XM competencies to thrive, companies need to foster an environment that instills XM-centric mindsets and behaviors in their leaders and employees. Organizations that succeed in the future will use the XM Operating Framework to embed XM across their operating fabric.
For more information about Experience Management and the XM Operating Framework, visit XMInstitute.com.
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