The new Forrester Wave™: Customer Feedback Management Platforms, Q2 2021 report highlights Leaders, Strong Performers, Contenders, and Challengers in the customer feedback management market. According to the last year’s Forrester report which assessed state of VoC and CX maturity, the results are disappointing. Only 12% of the assessed organisations mark their maturity as high or very high. In addition, 71% of firms don’t aggregate or collect across surveys or other sources, while 61% don’t close the loop with customers who gave feedback.
For brands to improve on these findings, the report suggests that CFM customers should look for providers that:
- Integrate multiple feedback sources to create a holistic view of the customer
- Incorporate large volumes of unstructured data and provide high-quality text analytics
- Provide support and services that formalize processes, drive action and prove results.
The Forrester Wave™: Customer Feedback Management Platforms report assessed 12 vendors that matter most based on 33 criteria. The brands researched, analysed, and scored are Alida, Cisco Webex XM, Clarabridge, Concentrix, Confirmit, InMoment, Medallia, NICE, Qualtrics, Reputation, SMG, and Verint.
Some of the criteria used in this report are feedback collection, employee feedback, integrations, speech and speech-to-text, text analytics, analytics capabilities, usability, and others.
Leaders Profiles
The report recognised Clarabridge, Medallia, SMG, InMoment, and Qualtrics as Leaders, and Concentrix, Confirmit, Reputation, NICE, Verint, and Cisco Webex XM as Strong Performers. It’s been shown that Medallia leads in engaging stakeholders at all levels to be a part of the transformation, which involves over 1,400 enterprise and midmarket customers. The company is also the leader in closing the customer feedback loop and democratising data.
When it comes to text analytics and enabling an omnichannel view, Clarabridge is at the very top, serving over 380 enterprise customers based in North America and EMEA. The vendor is exceptional in helping customers connect disparate data sources from various tools across silos like contact centre, digital, and CX teams.
InMoment ranks high for its combination of robust technology and services, partnership and value, while SMG continuously works on developing insights and strives to approach the market differently than competitors. Qualtrics, the leader in experience management software, powers thousands of companies globally with its XM solutions to help design and improve experiences. For those looking to achieve a high level of flexibility, Qualtrics is a good option, the report suggests.
The vendors have also been grouped into three high-level categories: current offering, strategy, and market presence.
