If you’ve talked to anybody in marketing recently, you’ll know how central customer experience is. Innovative companies have sophisticated Customer Experience Management (CEM) systems to track just about every customer interaction, allowing them to measure fast-changing attitudes and opinions on a weekly or even daily basis, and not wait for a monthly report.
It’s a booming market for CEM. The global industry was expected to grow from $6.5 billion in 2019 to almost $24 Billion by 2027, according to a February 2020 report from Grandview Research. And the thirst for CEM providers has only grown. Qualtrics — which markets a cloud-based CEM platform — debuted on the NASDAQ in late January at $30 a share, quickly rising to $55 a share. Its market cap as of early February was more than $27 billion.