Qualtrics has announced the general availability of its Customer Journey Optimizer, which allows businesses to analyze customer journeys, spot issues, and support customers in avoiding them.
The new solution, powered by Qualtrics Experience iD, provides an omnichannel view of customer journeys, with data analytics to determine pain points, which may result in unnecessary service costs or lost revenue.
Journey analytics also allows teams to establish which customer segments and individuals are being affected by particular issues across different channels.
Moreover, pre-built integrations with current systems can create effective responses to assist customers in bypassing various problems.
Qualtrics President of Product, User Experience and Engineering Brad Anderson, said: “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.
Describing itself as the “leader and creator of the experience management (XM) category”, Qualtrics believes that experience data and orchestration will power the future of customer personalization.
According to the XM specialist, digital transformation and the e-commerce revolution have changed the way in which companies engage with their customers.
IDC has predicted that 40 percent of the total revenue for Global 2000 companies will derive from digital products, services, and experiences by 2026.
The report found that bad customer experiences result in an eight percent loss of annual revenue for companies.
Credit Union of Colorado is aiming to increase its rate of new customers signing up for digital banking services to save money on expensive contact center calls, increase self-service, and improve operations.
The Customer Journey Optimizer offered insights into milestones within the user onboarding process to enable the team to locate the pain points.
They could then be helped through revised coaching techniques for employees and orchestrated reminders via email and text to gain more digital customer engagement.
Mitch Rosenbaum, SVP of Marketing and Digital Services at Credit Union of Colorado, said: “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.
“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.”
Last month, Qualtrics made three new contact center tools generally available, each designed to assist agents.
The customer care specialists’ latest innovations include Qualtrics Real-Time Agent Assist (RTAA), Automated Call Summaries (ACS), and Frontline Team Assist.
These solutions add to Qualtrics’ range of ‘XM’ (Experience Management) capabilities, bringing contact center agents more ways to better understand and serve their customers.
In April, the company released Qualtrics Frontline XM solutions to help frontline employees deliver quality customer experiences.
Its new solutions leverage AI technology, using what Qualtrics describes as the “world’s largest database of sentiment” to improve customer experiences from beginning to end.