X-Data: Customer Experience Directly Impacts Revenue

X-Data is quickly catching up to O-Data in perceived relevance to a company’s bottom line.

SAP is strengthening focus on Customer success, as well as on end user experience. The aqcuisition of Qualtrics was a giant leap for the company in addressing X-Data, defined on the Qualtrics website as:

The experience data, the human factor data — the beliefs, the emotions, and the sentiments. X-data is the human feedback that points to the gaps between what you think is happening and what’s really happening.

By Ryan Smith, Qualtrics blog

A recent report by Zendesk, Quantifying the Business Impact of Customer Service in Australia Report 2019, shows companies that fail to deliver quality customer service experiences could see an adverse impact to their bottom-line.  According to the report,

  • 91% of customers say bad customer service changes their buying behavior 
  • 42% stopped buying from a company altogether due to a bad experience
  • 25% view a good experience as simply having multiple options for contacting customer support

The impact of bad customer experience goes far beyond short-term sales. Bad experiences can also have a long-term impact on customers’ perception and relationship with a business. Interestingly, customers are more than four times as likely to remember unfavourable experiences from two years ago than favourable experiences. Providing timely and effective customer service will ensure companies avoid leaving an indelible mark that is harmful to their reputation.

Amy Foo, Managing Director, Zendesk A/NZ said:

“Businesses are always competing to offer the latest and greatest products or services. But what is often overlooked is how quality customer service remains to be a cornerstone of business success.” 

For SAP, the Customer First and Partner First principles standardise the methodology in enagig with customers and measure the quality of engagement. Partner First specifically deals with focusing on the customers of SAP partners.

Chris O’Brien told InsideSAP:

“The acquisition of Qualtrics is really exciting in this space and we’re currently revamping our whole feedback mechanism to look at how we will be using the depth of its capability to make sure we truly understand ‘the why’ of what’s important to our customers. “

Read the article here

You can find a copy of the Zendesk Whitepaper here.

Leave a Reply