It’s all about the experience!

In today’s Experience Economy, customer perception of their engagement with a company or brand is fast overtaking product and price as a key differentiator, and if that business cannot provide a personalised and relevant experience for their customers, they run the risk of becoming obsolete. SAP, together with our partners, can help our customers to maintain their relevance by delivering solutions and services that help to enable a truly holistic customer experience.

 There are myriad reports and statistics highlighting the how vital Experience Management is to the success of a business:

• Customer experience leaders outperformed the broader market by more than 30% regarding their total return (Forrester & Watermark)
•  Consumers are willing to spend 17% more with companies that deliver excellent service (American Express)
•  81% of companies expect to compete ‘mostly or completely’ on the basis of CX in 2019 (Gartner)

 So, if CX is so critical, why are customers so challenged by it? 

When SAP acquired Qualtrics, we did so with the intention of creating an entirely new solution category – Experience Management – and becoming the first company to offer the comprehensive portfolio needed to help companies close the gaps that occur when a customer or employee expects a certain experience, but a brand or employer falls short. By quickly assessing and acting on customer opinions about their products or services, our customers and partners can leverage critical experience data across four vital areas of a business: customers, employees, product, and brand, to make experience management a reality.

 The key addition of Qualtrics to the SAP portfolio brings the O (Operational) and X (Experience) data together by marrying the two critical parts of a customer’s business: WHAT’S happening (O) with WHY it’s happening (X). In today’s economy only 8% of customers have the feeling that businesses are delivering a superior experience (Bain & Company).

It opens up a whole world of new opportunities for SAP partners, from helping to prevent failed product launches or delayed inventory shipments to reducing customer churn and/or employee attrition.

To win, customers will need to continually innovate around those four core business experiences, and the sentiment associated with these. All of these come with their own relevant business challenges which is where our partners play a critical role, leveraging their years of experience and services in these different areas.

Together with our partners, our customers can maintain their lead and outpace their competitors. The Experience Economy is the next wave!”

 XM FAST FACTS

• SAP is investing $100 billion in Experience Management to give customers the competitive CX advantage.
• Leveraging 47 years of investment in O data and the extensive SAP C4/HANA suite, SAP and partners can co-innovate to deliver differentiated value for joint customers.