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Share Name | Share Symbol | Market | Type |
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Qualtrics International Inc | NASDAQ:XM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 18.14 | 18.14 | 18.14 | 0 | 01:00:00 |
Companies with best customer service doubled their lead over laggards as the impact of customer service grew, according to a new analysis from the Qualtrics XM Institute
Companies with the best customer experience ratings outperformed their industry peers’ stock performance between 2019 and 2022 and doubled their lead over companies that provide poor customer experiences, according to new research from the XM Institute at Qualtrics (Nasdaq: XM).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220712005480/en/
Customer experience leaders saw stronger stock performance than customer experience laggards (Graphic: Business Wire)
So-called customer capitalism is only growing in its impact on stock performance as more commerce is done digitally and customers are able to ask more of the companies they do business with. A Qualtrics study found that 73% of executives expect customers to become more demanding, up from 67% of executives a year ago. Today, leading organizations like Ford and FedEx are making a strong customer experience an essential part of their strategy, and an Executive Order from President Biden calls for federal services to improve customer experiences.
In order to understand how customer experiences may impact business performance, XM Institute identified the large, publicly traded companies with the highest and lowest-rated customer experiences using data from the Qualtrics XM Institute Q2 2019 Consumer Benchmark Survey, a representative study of 10,000 U.S. consumers. The analysis tracked these companies’ quarterly stock performance, adjusted for industry-wide changes, and compared it against corresponding industry indexes, before, during and after the recession caused by early COVID fears.
“Today’s customers have higher expectations of the brands they do business with, and these numbers show that investing in the customer experience and meeting those expectations can really pay off,” said Bruce Temkin, head of Qualtrics XM Institute. “Organizations that get it right can address customer feedback in a quick and meaningful way to set themselves apart in uncertain times.”
Key findings:
Methodology
The XM Institute at Qualtrics identified the 20 publicly traded companies with the highest and lowest XMI Customer Ratings from the data gathered in the Qualtrics XM Institute Q2 2019 Consumer Benchmark Survey, an online study of 10,000 U.S. consumers representative of age, income, ethnicity, and geographic region according to the most recent U.S. Census.
The business performance for all 40 companies was normalized by comparing their stock prices against a representative industry index for each company using the most appropriate S&P 500 or S&P 1500 industry index. The percent change of the industry index portfolios was subtracted from the percent change of the company portfolios to find the normalized change for each quarter. See the full methodology here: http://xminstitute.com/blog/XM-stock-COVID
About Qualtrics
Qualtrics, the leader and creator of the experience management (XM) category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product and brand. Over 16,750 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™)—the beliefs, emotions and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about. To learn more, please visit qualtrics.com.
About XM Institute
Qualtrics XM Institute is the world’s premier resource for experience management (XM) professionals. Led by industry visionary Bruce Temkin, XM Institute’s faculty researches trends and emerging practices in how organizations interact with their key stakeholders, including suppliers, employees, customers and partners. XM Institute also leads XM Pros, a thriving global community of more than 6,000 XM leaders who participate in an ongoing calendar of monthly events. The Institute maintains the XM Professionals Certification, the gold standard credential in the field. To access the latest XM content or for more information about XM Institute, please visit xminstitute.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220712005480/en/
Lauren Braun press@qualtrics.com
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