SALT LAKE CITY--(BUSINESS WIRE)--QUALTRICS X4 – Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced Real-time Brand Intelligence and Research Hub, new purpose-built solutions that use real-time analytics and predictive insights to help organizations understand brand performance, grow market share, and make smarter and faster decisions in response to the needs of their customers.
Keeping a pulse on brand experience has never been more important. Customers are less forgiving in a down economy, and all businesses are being asked to do more with less. A Qualtrics XM Institute study found that about three quarters of executives foresee their customers becoming more demanding over the next three to five years. Companies cannot afford customer churn – they have to get it right at every touchpoint to be able to attract new customers, increase engagement and usage, and provide support when things go wrong.
“Right now, even the most loyal customers are shopping around for the most value and best experiences, and organizations that want to drive growth have to deeply understand who their customers are and how to connect with them,” said Brad Anderson, President of Product and Engineering at Qualtrics. “These innovations will help professionals get even deeper and more personal insights out of their research investments, and will enable marketers to strengthen their ability to attract customers and build long-lasting relationships with greater speed and lower costs.”
Maximizing Research Investments While Making New Research More Personal
Qualtrics’ Research Hub brings together the millions of data points that make up all of the research happening across an organization—brand studies, customer feedback, market data and more—into a searchable system that puts all this research at any team member’s fingertips. Research Hub surfaces the most impactful insights, customer feedback and market data from around the company and helps teams hone in on insights they already have to innovate faster and improve customer acquisition while saving time and money by extending the life of previous research investments.
For example, a global bank could be looking for deeper insights into which customers are most likely to switch banks. An insight professional can simply type, “Which types of customers are most likely to switch banks right now?” into the search bar to automatically tap into all of the bank’s previous research and data points on the Qualtrics platform. Research Hub then brings up an easy-to-understand Market Landscape Assessment that was previously done that shows that 44% of high net-worth individuals say they are likely to switch banks in the next six months, as well as that the key driver for switching is whether their current bank lags behind on interest rates. With this information, the bank can focus on initiatives that target those high net-worth individuals, ultimately driving more customer satisfaction and engagement.
Meeting Customers Where They Are For Deeper and More Relevant Insights
Qualtrics Qualitative Research is a suite of tools that gives researchers deeper insights, richer context, and new ways to tell stories with data that truly resonate with stakeholders. Building on the video feedback and editing capabilities that are already being used by customers, the Qualitative Research suite is adding new capabilities for even greater insight. New video diaries are designed to make projects like product testing simple, affordable and scalable. As video diary feedback comes in, it’s automatically added to XiD, building a rich picture of how people engage with products and services. Other new features include in-depth interviews, research solutions for UX, and a purpose-built solution for focus groups.
Empowering Marketers With Predictive Insights to Increase Customer Acquisition and Reduce Spending
New Qualtrics Real-time Brand Intelligence tells marketers how well their campaigns, events and interactions are driving customer acquisition and demand. Real-time Brand Intelligence constantly captures vast amounts of data from social platforms, news, review sites, search, paid media, web traffic, behavioral data, and more. Then the Qualtrics AI engine analyzes all of those data points and delivers predictive insights and recommends actions that will increase customer acquisition and reduce spending. It provides a deep understanding of a customer’s experience with a brand, relative to competitors, all without asking a single question.
For example, a brand manager for the same global bank may be looking for more information about how key marketing activations are driving customer growth and sales. With Real-time Brand Intelligence, she can open her dashboard and immediately see a real-time brand momentum score that combines unstructured and behavioral data to measure brand activation effectiveness. When comparing that real-time brand momentum score to the competitors across the market, the brand manager might notice that the bank is lagging behind one of their biggest competitors. Since the dashboard automatically surfaces multiple recommendations for investments and improvements, she can quickly shift course to ensure their ads and branding efforts are more distinct, while also ensuring the right offers are being put in front of the right audience to increase customer acquisition.
Availability
Research Hub will be available at the end of the year.
Qualitative Research is currently available, with new features rolling out throughout 2023.
Real-time Brand Intelligence will be available in the third quarter of 2023.
About Qualtrics
Qualtrics, the leader and creator of the experience management category, is a cloud-native software provider that helps organizations quickly identify and resolve points of friction across all digital and human touchpoints in their business – so they can retain their best customers and employees, protect their revenue, and drive profitability. More than 18,750 organizations around the world use Qualtrics’s advanced AI to listen, understand, and take action. Qualtrics uses its vast universe of experience data to form the largest database of human sentiment in the world. Qualtrics is co-headquartered in Provo, Utah and Seattle, and operates out of 28 offices globally. To learn more, please visit qualtrics.com.
