Managing customer feedback effectively is an essential part of customer experience management.
While contact center analytics provide insights into metrics like handling times and team performance, deeper investiagtion is necessary to unearth gamechanging insight.
This requirement to think outside the box and look beyond core customer feedback management (CFM) solutions was key to Forrester’s latest Wave report.
The 2024 study has identified and analyzed nine of the "most significant" CFM vendors in the space and assessed them against 26 criteria across two areas of evaluation.
Each company is then ranked as either a Leader, Strong Performer, Contender, or Challenger.
Let’s take a look at how this year’s vendors performed.
How Did the Vendors Perform?
Here are Forrester’s five top performing vendors across the two areas of evaluation:
Current Offering
- Medalllia: 4.36/5
- Qualtrics: 3.92/5
- InMoment: 3.54/5
- Sprinklr: 3.42/5
- Concentrix: 2.5/5
Strategy
- Medalllia: 3.7/5
- Qualtrics: 3.6/5
- Concentrix: 3.2/5
- InMoment: 3.1/5
- SMG: 2.7/5
As well as the scores, Forrester also provides an overview of each vendor’s portfolios and solutions. Below is a summary of each.
Medallia (Leader)
Retaining its 2023 position as a Wave Leader, Medallia’s Experience Cloud (MEC) offering garnered praise for its ability to deliver "robust" analytics and voice of the employee (VoE) capabilities to a global network of industries.
Forrester also outlined the company’s dedication to accessibility, its impressive text mining features, and its active use of client feedback in informing feature development.
The report described Medallia as being "particularly suited" to enterprises focused on organization-wide CX engagement, who are seeking a vendor with proven success in large-scale implementations.
Qualtrics (Leader)
Having been listed as a Strong Performer last time out, Qualtrics’ repackaged CX offering, XM for Customer Experience, has helped push the vendor back into the Wave’s top tier.
The solution boasts a survey-focused Text iQ feature, rage click detection, and integration with digital tools like Adobe, which Forrester believes helps to provide "deeper understanding."
The vendor’s generative AI (GenAI) and self-service features were also discussed, with the report commending the former for its ability to untangle unstructured data and the latter for helping to enforce Qualtrics "strong community strategy."
InMoment (Strong Performer)
InMoment retained its Strong Performer ranking after impressing Forrester with its mix of technical and strategic CFM features.
The vendor’s new Spotlight solution is allowing InMoment to maximize the text mining expertise it acquired through the purchase of Lexalytics. The tool’s more polished user experience and promise of further enhancements has led to excitement amongst early users.
While Forrester highlighted the positive impact that the purchase of ReviewTracker has had on the company’s ratings and reviews management features, it lacks the seamlessness of other platforms because certain features, like review responses, are managed in a separate UI. The vendor was also marked down for its lack of client community.
Sprinklr (Strong Performer)
New to the Wave and to the CFM market, Sprinklr’s recently launched Surveys solution has made a splash, impressing Forrester with its "superior" roadmap, social media usage, and ratings and reviews.
In addition, the report also praised Sprinklr’s "strong" GenAI and text mining features, as well as its process for gathering and evaluating innovation ideas from clients and partners.
However, as a newcomer, Sprinklr understandably struggles to match some of the more established vendors in the field when it comes to CX partner network, measurements, and domain-specific templates.
