The Four P’s of XM Insights

In a recent XM Institute report, we discussed how to Operationalize Experience Management (XM).  Why does XM matter? Because it creates a discipline that helps organizations continuously learn (how people are thinking and feeling), propagate insights (to the right people in the right form at the right time), and rapidly adapt (to an increasing flow of actionable insights).

As we look into the future, just about every organization is facing more demanding customers, more demanding employees, and shorter product lifecycles. In this environment, they need to make smarter, faster decisions… They need XM.

Organizations that master XM will adapt faster than their peers. That statement alone should be compelling enough to focus on building XM capabilities. What happens to your organization if your competitors are systematically adapting faster than you?!?

To understand where XM will come into play, I’ve identified four categories of insights that XM leaders will better understand and more quickly respond to than their peers. Let’s just call them the Four Ps of XM Insights:

2002_4Ps_v1

  • Problems: Have an issue with a product, a brand message that’s going awry, a manager ruining morale, or a process that’s turning customers into detractors? XM leaders will spot those problems and make appropriate adjustments, before their competitors have any indication that there may be an issue.
  • Preferences: What features do key customers prefer, which brand messages resonate with target audiences, and what benefits will have the most impact on employee retention? XM leaders will know the answers to these types of questions and make adjustments before their peers even formulate the questions.
  • Possibilities: What unspoken needs do your customers have, what innovations are in the minds of employees, how can you reinvent your brand, and what should your next generation of products and services look like? XM leaders will have a continuous pulse on these types of insights, while their competitors just brainstorm about them during planning off-sites.
  • Priorities: Which actions will drive the most loyal customers, the most engaged employees, the most vibrant brands, and the most irreplaceable products? XM leaders will understand these connections and focus their resources on the most impactful areas, while their competitors debate options with random groups of employees who happen to be invited to meetings.

The bottom line: XM leaders will adapt faster to problems, preferences, possibilities, and priorities.

Why I joined the XM Institute: HR to EX to XM

Note from Bruce Temkin: This is the first (of many) posts that will be written by thought leaders besides me. I’m thrilled to have Ben Granger join our Qualtrics XM Institute team and contribute to this blog.
Today, I am excited to announce that I have officially joined the Qualtrics XM Institute! I am joining a fantastic team of XM researchers and visionaries.

For the last 15+ years, I have been […] Continue Reading…

New Research Digs Into Industries And Consumer Feedback Patterns

The XM Institute is kicking off the year with a research bang.

In a previous post, I mentioned two reports from late last year that show the business value of CX, The ROI of CX and What Consumers Do After a Bad Experience. Since then, we’ve actually published a number of new research reports with an emphasis on industry-specific data. These reports are based on a survey of 10,000 U.S. consumers […] Continue Reading…

Six Types Of Experience Data (X-Data)

One of the key building blocks of Experience Management (XM) is X-data, which helps establish an understanding of how people think, feel, and behave. In almost all circumstances, organizations lack the X-data they truly need. So how should organizations go about instrumenting their operations to collect the right data?

To identify the required X-data, it’s important to first understand how data flows from people’s experiences. That’s why you should start […] Continue Reading…

Thankful For A Decade Of Great Experiences

Happy New Year!

Wow, it’s 2020… the start to a new decade. I’m really looking forward to what’s ahead. My previous post discusses how 2020 will be the Year Of Insightful Actions, but I also wanted to zoom out and share a broader perspective.
Appreciating The Past 10 Years
Before focusing on the 2020s, I’d like to pause and express my gratitude for the 2010s. It was a great decade! I’m very […] Continue Reading…

2020: The Year of Insightful Actions

As 2019 comes to an end, it’s time to think about what we’ll see next year. I collaborated with our XM Institute faculty (Aimee Lucas, Ben Granger, Isabelle Zdatny, and Moira Dorsey) to pull together a picture of where we think XM will be heading in 2020. As we looked across the different elements we were expecting to see, an overall theme for 2020 emerged… The Year Of Insightful […] Continue Reading…

New Research Shows Strong ROI of CX

The XM Institute has published new research that examines the impact that customer experience has on the loyalty of U.S. consumers across 20 industries. You can download these reports for free:

The ROI of Customer Experience. This research examines the correlation between customer experience and the likelihood of consumers to exhibit the following behaviors: purchase more products or services, recommend a company, forgive a company, trust a company, or try […] Continue Reading…

New Research: The Global State of XM

The XM Institute published a new report, The Global State of Experience Management (“XM”). The research is based on a survey of more than 1,200 senior executives from across six countries: Australia, Canada, Germany, Japan, the UK, and the U.S..

Before I share some of the findings, I just want to say that this report is free to download. As I’ve mentioned in the past, one of the cool things about […] Continue Reading…

Stop Employees From Asking For Good Ratings

Over the last few weeks, I’ve run into a couple of examples of a common problem with some Experience Management (XM) programs… “gaming.” Here’s what I found…

During dinner with a friend who is an executive at a large bank, our discussion made its way to XM (no surprise). He mentioned that his bank has an employee engagement study and that leaders are compensated based on the results.

Sounds like a […] Continue Reading…

XM Versus BI: No Real Comparison

When I was at the SAP Select event in Berlin last week, I was asked a great question… Isn’t Experience Management (XM) just like business intelligence (BI)?

First of all, they’re nothing alike. However, I understand why they may appear similar at a surface level. That’s why I really like this question; it gives me the chance to provide additional clarity around XM.

Here’s why XM is nothing like BI:

BI […] Continue Reading…

Discussing The Experience Economy With Joe Pine

Welcome to the Experience Economy. That’s the title from an HBR article written by Joe Pine and James Gilmore in 1998. It was a seminal article, laying out the important role that experiences play in building differentiation. Pine and Gilmore went on to write an amazing book, The Experience Economy: Work Is Theater & Every Business a Stage.

The Experience Economy was more than an article or a book, it […] Continue Reading…

Three Characteristics of XM Leaders

Earlier today, I led an roundtable discussion at SAP Select in Berlin entitled “Become a XM Transformation Leader.” This is a critical theme for many executives. If you want the benefits of Experience Management (XM), then you will need to lead a transformational journey across your organization.
If you’ve been reading my work, then you realize that XM is not about the delivery of a single great experience, but it’s a […] Continue Reading…

Expansion Of Experience Management And XM Professionals

It’s great to see so many people starting to see the potential of Experience Management (XM). As I’ve discussed, XM is the natural evolution in enterprise transformation. XM will improve just about any organization with the infusion of intelligence and humanity.
The Discipline of XM
XM is more than just a technology. It’s a discipline that needs to be woven across an organization’s operating fabric. When an organization fully adopts XM, […] Continue Reading…

Your Organization Is An Experience Factory

Experience Management (XM) isn’t just important, it’s the primary function of every organization. Let me explain…

The XM Institute team spends a lot of time thinking about and researching XM. Which means we spend a lot of time trying to understand how human beings think, feel, and behave.

What’s become clear is that experience is not just an interesting topic, it’s a fundamental component of life. As a matter of fact, […] Continue Reading…

The Purpose Of A Corporation, Redefined

This week, almost 200 CEO’s agreed to an updated definition of “the purpose of a corporation.” The statement was made by the Business Roundtable, a very influential group chaired by Jamie Dimon, the CEO and chairman of JPMorgan Chase.

The new definition starts like this…
Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity. We believe […] Continue Reading…