Qualtrics and Bain & Company announced the NPS® Outer Loop powered by Qualtrics for early access customers. The Net Promoter System supplies actionable practices and methodologies for enhancing customer This new solution, designed by Bain in the Qualtrics' XM Platform™, allows organizations access and execute Bain's proven methodologies for customer experience improvement directly with Qualtrics' industry leading Customer Experience (CX) technology. The combination will provide organizations with a more effective way to measure, manage, and improve products, services, and experiences so they can earn customer loyalty. Qualtrics research found that 80% of consumers say they've switched brands because of a bad experience, and more than half changed brands after a single poor experience. Poor customer experiences are costing companies an average of 7% of their annual revenue. The solution, co-developed by Bain and Qualtrics, allows organizations to address customer complaints and empowers them to prioritize and invest in changes that will improve products, processes, policies and other elements of the business that are beyond frontline employee control. For example, a company experiencing a recurring customer issue could use NPS® Outer Loop powered by Qualtrics to identify and link all instances of similar customer feedback, perform a detailed investigation to reveal its potential source, and generate data-backed evidence of outlining which solutions to prioritize. Customer advocacy teams can then follow through with controlled testing of a solution, and keep frontline teams informed about progress as the issue is resolved.
This combination of operational and experience data and workflows is frequently spread across disparate spreadsheets and software. Qualtrics' XM Platform provides the power of the ultimate listening engine with Qualtrics Experience iD, predictive intelligence and powerful text analytics, and full closed-loop actioning capabilities with xFlow that enable clients to rapidly execute the cross-functional improvements identified through customer feedback. The ability to collect, analyze, and act on operational and experience data within a single platform saves organizations time and resources while empowering the companywide collaboration necessary to deliver best-in-class customer experience. NPS® Outer Loop by Bain and Company powered by Qualtrics is now available for early access users.