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Qualtrics: A Play Bigger Case Study

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Before

When we started our work together, Qualtrics was competing in the Market Research and Surveys category against Survey Monkey and Medallia, with a battle around Customer Experience looming on the horizon.

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Category Design Work

• Initially, we identified a massive Problem – The Experience Gap

• Next, we defined the Category and the Solution to solve it: Experience Management (XM)

• Later, we developed a powerful POV around the problem and solution space, along with a Blueprint that set the terms of engagement for the category.

• Finally, through Lightning Strikes and an ongoing Strike Ops model, we conditioned the market to recognize the problem, the importance of experience across the four corners of the business – customer, employee, product, and brand - and the advent of a new kind of data to measure it, called "X Data."

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Outcomes to Date

Solving the experience gap became a C-suite imperative, changing the buyer for Qualtrics’ solution from research teams to the CEO, and as part, increasing ACV by nearly 100x.

Ahead of an intended IPO, SAP acquired Qualtrics for $8B, an 8x multiple on their valuation from less than two years prior.

With the market opportunity not fully realized, Qualtrics was spun out to a $15B IPO that quickly grew to $27B+ before the market close, equaling a creation of $26B in MCAP in just five years.

XM and the experience economy is now firmly established and widely recognized, with Qualtrics as its founder and Category Leader.

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