It's massive, and it lives in every organization. Only 8% of customers agree! This is the Experience Gap. A world where companies are disproportionately rewarded when they deliver great experiences. And giving their experiences a voice puts you a step ahead of the competition. Whether it’s your employees, your customers, or even your prospects, these are ultimate providers of value to your company. Everyone is on the hunt for experience data, because it brings the people your business cares about into your strategic conversations. Organizations are searching for a new kind of data, a better angle on today’s challenges. Why? Because businesses are reaching the limits of what they can know and predict through operational data and are looking for better measurements. Clearly, the answer isn’t more data, it’s different data. Organizations have more data than ever but are still getting blindsided. Gaps like these are dangerous.Įven the smartest most data-driven companies are getting surprised by these gaps. They were completely blindsided by their brand perception. They were about to lose a majority of their workforce and could not attract even a fraction of their replacements. It wasn’t resonating at all with Millennials. The symptom was a hiring problem, but the root cause was actually a brand problem. But when they hit the gas on recruiting, they were shocked to find they couldn’t attract Millennial workers to their brand. Sounds like a hiring problem, and the answer should have been simple. When they looked at their operational data they could actually see the exact date their workforce would be insufficient to manage the company-and it wasn’t that far off. You see, 60% of their workforce is retiring in the next 5-10 years.
In December I had another interesting couch session with one of America's most iconic brands - a Fortune 100 company with almost $40B in revenue and more than 100,000 employees worldwide.
If they haven’t hit yours yet, they will. Here are the three major trends that are affecting their businesses. As we work with them, the same trends keep appearing everywhere, across every industry.
Some of the world’s top brands across all industries are tackling cutting edge questions with Qualtrics. With more than 9,000 clients running hundreds of thousands of research projects on our platform, we have a crow’s nest view on what’s happening in the markets. It’s like I have a couch in my office, where every major brand comes by to visit and talk about everything from new product launches and customer programs, to employee growth challenges, to brand perceptions. In fact, running Qualtrics is, in some ways, like being a therapist. We don’t know who’s coming, what they’re coming with, or where they’re coming from, but we’re seeing disruption everywhere and we know it’s just a matter of time for us.”Īnd this company isn’t the only organization dealing with disruption. But despite their success, they told me, “Ryan, we know someone is coming for us. They had record earnings and stable growth, their stock was at an all-time high, and shareholders were thrilled with the company. Last month, I had one of the world’s largest insurance companies in our office.
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