The experience management (XM) provider, Qualtrics, and global consultancy, Bain & Company, have announced plans to expand their go-to-market partnership. The new stage of partnership intends to speed up customer experience innovation and improve its measurement, management, and enhancement by integrating Bain's recognised customer experience methodologies with Qualtrics' AI technologies.
Qualtrics' AI-powered solutions will be combined with Bain's guidance on how to offer a sustainable, profitable growth by enhancing customer value. The partnership expansion builds on a history of successful partnerships which have sought to increase customer relationships, promote organisational learning and action, and foster the growth of a company's customer base. The most recent examples of this include the provision of access to Bain-exclusive modules directly on the Qualtrics' XM Platform. This integration aims to encourage organisations to implement improvements based on the feedback of customers and employees more consistently.
Through this expansion, Bain and Qualtrics aim to improve the efficiency of the instrumentation of customer and employee experience journeys and instil learning and appropriate action into the organisation's usual rhythms. Organisations will be able to fully exploit the advantages of the system's transformative capabilities to foster sustainable growth, quicken the pace of innovation, and provide high-quality experiences at lower costs with the use of the Qualtrics platform built on the Bain Net Promoter System methodologies.
Bain and Qualtrics also plan to develop AI-powered solutions providing frontline employees with near real-time feedback and coaching on almost all of their most significant customer interactions. These tools will improve job satisfaction, accelerate learning and cultivate deeper relationships with individual customers. Additionally, AI tools will increase the productivity and effectiveness of CX teams by proposing systemic improvements informed by customer and employee experience data.
Brad Anderson, President of Product, UX and Engineering at Qualtrics, reflected, "Deeper customer loyalty and higher NPS are keys to accelerating revenue and profit growth. Qualtrics and Bain are at the forefront helping organisations across the globe unlock the significant value of customer experience." The partnership will initially cater to customer-centric industries, such as financial services, retail, automotive, and airlines, with the aim to expand into additional industries in the future.
Rob Markey, a partner at Bain & Company and a leader in the firm's Customer Strategy & Marketing practice, stated their aspiration: "Bain research has shown that enduring loyalty leaders grow revenues more than twice as fast as their industry peers. By combining Qualtrics' outstanding experience analytics software, Bain's customer strategy expertise, and both firms' extensive AI skills, we will continue to create innovative delivery approaches to help our clients deliver more value to their customers, grow the value of their customer base, and set new standards of customer-centric excellence."
