Independent Research Firm Shows 674% ROI with the Qualtrics Experience Management Platform™
Commissioned study shows the net benefit of experience management with Qualtrics
SALT LAKE CITY and SEATTLE, Oct. 25, 2017 /PRNewswire/ -- Qualtrics, the leader in experience management, announced the release of The Total Economic Impact™ of Experience Management With Qualtrics, a commissioned study conducted by research firm Forrester Consulting on behalf of Qualtrics. The study shows that companies using Qualtrics received an average of 674 percent return on their investment and recouped their entire investment in less than six months due to decreased customer support costs, avoided costs of failed product launches, reduced cost of staff, and budget saved from inferior tools.
The Qualtrics XM Platform™ allows companies to manage the four core experiences of business—customer, employee, product and brand experience—on a single platform. Experience data, also known as X-data™, tells companies why things are happening across the organization, not just what is happening. The platform also uses predictive intelligence to identify things such as employee or customer churn.
Forrester Consulting applied its Total Economic Impact™ (TEI) methodology by examining organizations leveraging Qualtrics for various initiatives, including customer, employee, product, and brand experience management. Forrester surveyed 100 organizations to assess general market needs and conducted in-depth interviews with an additional 10 Qualtrics users at the executive level from 8 different organizations. It used this data to design a composite organization to quantify the benefits from experience management.
Forrester's TEI methodology showed that a firm with 1,000 employees using the Qualtrics XM Platform can achieve:
- 674% return on investment
- $470,015 reduced cost of staff
- $358,107 decrease in customer support cost
- $220,000 avoided in failed product launches
- $102,000 saved from inferior tools
The Total Economic Impact is a methodology developed by Forrester. It helps companies demonstrate and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.
Download the free study, The Total Economic Impact of Experience Management With Qualtrics, by visiting www.qualtrics.com/tei or register for a free, live webinar featuring Forrester Principal Analyst, Sam Stern at www.qualtrics.com/lp/forrester-tei-webinar.
About Qualtrics
Qualtrics is a single system of record for all experience data, also called X-data™, allowing organizations to manage the four core experiences of business—customer, product, employee and brand experiences—on one platform. Over 8,500 enterprises worldwide, including more than 80 percent of the Fortune 100 and 99 of the top 100 U.S. business schools, rely on Qualtrics. To learn more, and for a free account, please visit www.qualtrics.com.
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McKenzie Haggard, Method Communications
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SOURCE Qualtrics
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