Qualtrics announced a strong 1Q 2022, with total revenue for the first quarter of $335.6 million, up from $238.6 million one year ago, an increase of 41% year over year. Subscription revenue for the first quarter was $280.8 million, an increase of 50% year over year. The company also recently launched two new products that support employee and customer experience.
The field of employee experience (EX) is a broad one, encompassing not just the occasional survey or feedback opportunity, but consisting of a series of touchpoints and moments from the time an employee starts with a company to their moment of departure. The new Qualtrics EX-focused Employee Experience ID allows companies to get a more comprehensive and unified view of the entire spectrum of employee experiences, tying in data such as preferences, engagement, performance and feedback. A new capability, Employee Journey Analytics, is powered by Employee Experience ID and helps to focus in on specific and individual moments along an employee journey and how these moments impact the employee. This could include hiring, onboarding, manager interactions, technology experiences and other touchpoints, and can map out and present sentiment for the entire company or groups of employees around these interactions. An example Qualtrics presented includes:
Organizations could identify that female middle managers are among the employee groups most likely to quit, and then ask for feedback on what changes leaders can implement to create better experiences for those groups.
Issues can be pinpointed and acted upon more quickly. “The pressure is on for organizations looking to recruit and retain top talent. Every relationship is based on a series of experiences, and leaders who understand how employees’ journeys are impacted during their tenure will have a competitive advantage,” says Jay Choi, Qualtrics EVP and chief product officer, EmployeeXM. “Employee Journey Analytics, as part of our vision for Employee Experience ID, helps organizations understand the most important moments in an employee’s journey, like onboarding, and how that has a direct impact on engagement and intent to stay so organizations can take precise action to improve the entire employee experience.”
Dash Research, in its upcoming report on Customer Insights & Feedback, identified the move to digital creating an enormous amount of channels and feedback sources as being a top market driver in the insights and feedback segment. This increase in the usage of all these channels and technologies is a positive, as it allows customers to provide feedback “where they are,” but it also is complex for the company receiving the data. Another new Qualtrics product, Social Connect, ties into this issue. Social Connect is a digital customer service and social listening tool that helps collect, analyze, and respond to the vast volume of service requests received through chat, email, and social media. Benefits include:
- A single unified inbox
- Automated chat responses
- Insight into social trends and real-time customer sentiment, intent, and emotions (leveraging XM Discover natural language understanding)
The combination of Social Connect and EX Discover helps unearth patterns and trends by analyzing unstructured messages, reviews, and social media interactions in combination with other social data including mentions, keywords, and comments. Says Fabrice Martin head of product for Qualtrics Customer Care, “Qualtrics Social Connect helps companies meet their customers where they are, understand their expectations and deliver digital customer experiences that build loyalty and trust, while avoiding costly escalations to their contact centers.”
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As a detail-oriented researcher, Sherril is expert at discovering, gathering and compiling industry and market data to create clear, actionable market and competitive intelligence. With deep experience in market analysis and segmentation she is a consummate collaborator with strong communication skills adept at supporting and forming relationships with cross-functional teams in all levels of organizations.
Sherril holds a Master of Business Administration in Marketing from University of Colorado, Boulder and a Bachelor of Arts in Psychology from Rutgers University.
