Qualtrics, the leader and creator of the experience management (XM) category, announced the general availability of Customer Journey Optimizer, a new journey analytics and orchestration solution, powered by Qualtrics Experience iD, that helps organizations identify key moments and points of friction and prioritize the right actions to improve customer experiences.
Customer Journey Optimizer creates a single omnichannel view of the entire customer journey to outline exactly what stage a customer is in, why and where an experience breakdown is happening, and the impact to the business, such as lost revenue or service cost. Journey analytics capabilities empower teams to drill deeper into the data to see how the issue is impacting different segments of customers and individuals across different channels and use pre-built integrations with existing systems to troubleshoot and orchestrate the best response to help customers reach their desired outcomes.
The future of customer personalization is powered by experience data and orchestration
Digital transformation and the explosion of e-commerce has permanently changed how organizations across industries interact with their customers. IDC forecasts that by 2026, 40% of total revenue for Global 2000 organizations will be generated by digital products, services, and experiences. Negative customer experiences cost companies an average of 8 percent of their annual revenue, so it’s critical that they get their frontline interactions right.
“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,” said Qualtrics President of Product, User Experience and Engineering Brad Anderson. “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.”
Credit Union of Colorado increases digital engagement with Customer Journey Optimizer
Credit Union of Colorado set a goal to increase the rate of new customers who sign up for digital banking services in order to reduce costly calls to its contact centre, increase self-service and streamline operations.
Customer Journey Optimizer provided insights into the different milestones throughout the user onboarding process and helped the team identify friction points that could be improved with updated coaching for branch employees and orchestrated helpful nudges at the right time (emails and texts) to convert more digitally engaged customers.
“Qualtrics Customer Journey Optimizer provided our teams with a clear understanding of our new membership journey and our opportunities to orchestrate personalized messaging that tap into the unique attributes and actions of each customer,” said Mitch Rosenbaum, SVP of Marketing and Digital Services at Credit Union of Colorado. “Within weeks of launching Customer Journey Optimizer, we saw an improvement in the adoption of services by our new members joining our digital platform, activating their cards and signing up for eStatements, deepening relationships and creating savings.”
Qualtrics Frontline Digital solutions bring together experience data, behavioral heuristics and journey optimization capabilities to empower organizations with the data insights needed to design, visualize, and orchestrate impactful digital experiences.
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.