Qualtrics International Inc. (XM) stock prices were up by a marginal 0.16% as of the market closing on June 15th, 2021, bringing the price per share up to USD$36.58.
XM Offers New Solutions
The company recently announced new solutions to accelerate the pace of innovation across the digital channels of B2B and B2C organizations. The innovative solutions, that expand upon the portfolio of solutions already released since the start of the year, facilitate the rapid and effective designing and optimizing of web and in-app experiences by respective digital teams.
Utility of Solutions
The solutions help allow companies to combine experience data-direct consumer feedback in regard to their online interactions and digital analytics, such as page views. This serves to help companies increase conversion, attract new and returning customers, and push for growth through their digital channels.
Digital Transformation
A recent study by the Qualtrics XM Institute indicted that more than 75% of more than 17.000 global consumers initiated digital activities over the prior year, including the ordering of groceries, taking of online courses, and receiving medical advice. With digital transformation efforts being accelerated by several years owing to the global restrictions imposed by the onset of the coronavirus pandemic, the onus is on companies to adapt to this change and deliver digital experiences that retain and expand their existing customer bases. Customers who report emotion as being a significant part of their overall experience are at least 35% more likely to make repeat purchases and to recommend the brand.
Scope of Solutions
Qualtrics works in tandem with various leading digital platforms, working to improve their web and mobile experiences through the user’s perspective. These integrations allow the company to replay visitors’ sessions, such as when making a purchase, facilitating the pinpointing of moment and causes for a failure to convert visitors into customers. In conjunction with customer feedback and behavioral signals, such as rage clicking, companies have immediate access to causes for churning and the impact of churning on their digital revenue, thereby allowing them to take immediate action to improve the experience within their existing CRM systems.
Future Outlook for XM
Armed with the recent expansion of the catalogue of solutions offered by XM, the company is poised to continue its trajectory of success. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
