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For an industry that’s been growing and evolving for years now, I think it’s fair to say that 2018 was the year when the world of Customer Experience was really recognized as a game-changer. CX professionals and providers of services and solutions that support the customer experience have known this for years, of course, but something has changed.
That thing is money.
Yes, that’s an over-simplification, but bear with me. While there has been plenty of merger and acquisition activity in the industry for years now (we’ve taken part in some of it!) 2018 seemed to hit another level.
At the end of last year, the sale of Qualtrics to SAP created a great deal of attention and put the spotlight on the CX industry as a whole. The price tag left many breathless with questions about how the two companies will bring their solutions – and people - together. These questions will be answered in due course; however, what is clear is that the days of CX being a niche interest are over. Companies now recognize the business value of using experience data to empower employees to drive change. CX is no longer about simply capturing and analyzing feedback.
Confirmit has been focused on this evolution of CX for some time. We are committed to delivering end-to-end business monitoring solutions that integrate insights from across the enterprise. This enables companies to drive better business decisions by tracking and understanding the impact of change initiatives.
What does this mean for CX’s most established cousin, Market Research? Well, there’s a similar theme there too. The ability to deploy technology to manage many of the day-to-day functions of MR provides a huge opportunity for MR businesses to establish themselves as true partners to their clients. Overall, it’s still about using insight to make better business decisions that drive better business outcomes. Which is what Market Research has always been about.
We welcome this evolution as the next step in the maturity of the CX industry from a focus on surveys to a focus on business intelligence. I fully expect that the market landscape will continue to evolve rapidly throughout 2019 and into 2020. It’s going to be a fascinating time – bring it on!
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