Qualtrics has unveiled Customer Journey Optimizer, a solution that combines journey analytics and orchestration, to assist businesses in pinpointing crucial touchpoints and areas of dissatisfaction along the customer journey.
“In today's digital world, a poor customer experience can cost businesses trillions. That's why it's so important for businesses to focus on creating a positive and seamless experience for customers across channels. With Qualtrics Customer Journey Optimizer and Experience iD, businesses can arm customer, marketing and digital teams with the journey analytics and orchestration capabilities they need to help customers achieve their goals and increase spending, loyalty and customer advocacy,” said Brad Anderson, President of Product, User Experience and Engineering, Qualtrics.
Customer Journey Optimizer offers a comprehensive customer journey perspective across various channels. It accurately maps out the customer's current stage, identifies the causes and locations of experience disruptions, and quantifies their impact on the business, including revenue loss or increased service costs.
The solution's journey analytics capabilities enable teams to delve deeper into the data, understand how these issues affect different customer segments and individuals across different channels, and utilize pre-built integrations with existing systems to effectively troubleshoot and orchestrate the most suitable response to help customers achieve better outcomes.
The importance of experience data and orchestration
The rise of digital transformation and the rapid growth of e-commerce have changed the way businesses engage with their customers, across industries. According to IDC's projections, digital products, services, and experiences will account for a significant 40% of the total revenue generated by Global 2000 organizations by 2026. Considering that unfavorable customer experiences result in an average loss of 8% of annual revenue for companies, it becomes paramount for organizations to prioritize and excel in their frontline interactions with customers.
For instance, the Credit Union of Colorado aimed to reduce the volume of expensive calls to its contact center, encourage self-service, and streamline its operations. By leveraging Customer Journey Optimizer, the team gained valuable insights into the various stages of the user onboarding process, allowing them to pinpoint areas of friction that could be addressed through improved coaching for branch employees. Additionally, they effectively employed timely and targeted communication channels such as emails and texts to provide helpful nudges and convert more customers into active digital users.
Elsewhere, Qualtrics has recently announced enhanced features in Qualtrics Pulse, a tool designed for regular employee feedback.