Lauded by an 18,000-strong client base, including 99 of the top 100 global business schools, the Qualtrics Experience Management (XM) platform is a top choice for companies wanting to survey, monitor and improve their customer experiences.
So, if your organization is looking to improve its product offering, you’ll struggle to find a tool that comes more highly recommended. Qualtrics has earned itself a 4.7-star Capterra rating and a further 4.8 stars with GetApp, with users citing user-friendliness and customization among its greatest features.
But with SaaS prices continuing to rise exponentially, the pressure is on to procure software solutions that provide a real return on investment — which begs the question of how much Qualtrics costs?
Read on to find out all you need to know about Qualtrics pricing, including how much of a discount you could be looking to secure.
How much does Qualtrics cost?
Qualtrics follows suit with the 55% of SaaS vendors that choose to obscure their standard pricing options. The vendor’s website offers no insights regarding the pricing editions available for its flagship product, Qualtrics CoreXM, instead providing prospective customers with the option to input their business information and request a product demo.
Following a demonstration with a member of the Qualtrics sales team, customers can receive a tailored quote for pricing based on their usage needs.
However, this approach illustrates the issue of pricing transparency in software procurement.
By not listing any price points, vendors place prospective buyers in a difficult position. On the one hand, you could follow the standard entry channel into the Qualtrics pipeline, but this would leave you ill-equipped to determine whether you’re getting a good price for your subscription or not.
Alternatively, if you approached the Qualtrics sales conversation with knowledge about what the vendor expects you to pay, then you’d be able to make an informed choice — and negotiate with leverage if there were a better deal to be had.
So, what are your next steps?
First of all, you’ll want to understand precisely what Qualtrics offers as part of their XM platform offering so that you can get a feel for which services your company may need access to as part of your subscription. Let’s take a look at what the vendor offers.
Qualtrics XMos Platform
The Qualtrics business OS for experience management combines three services into one platform. These are as follows:
xID supports organizations in recording interactions based on customer queries, complaints and other feedback. The service integrates experience data sources like Facebook, Yelp, Glassdoor and more so that businesses can gain visibility on the conversations happening with or about their company.
iQ enables companies to build a single system of record providing insights about their customers. The service provides access to staff members looking for detailed experiential data on each user, enriched with insights about their purchases, spending and more. It can also automatically update third-party application records and comprehensively segment customers using the XM Directory.
Once businesses have used the Qualtrics platform to compile their data, xflow enables it to be leveraged. Using predictive intelligence and powerful statistical analysis tools, xflow transforms corporate data into easy-to-understand, actionable recommendations that will improve customer experiences.
Now that you have an understanding of the services provided by Qualtrics XMos, you’re in a better position to discuss your needs with the sales team.
So, let’s get back to Qualtrics pricing — how can you find out what the vendor will expect you to pay before you enter into the sales conversation?
Essentially, you’ll need to search elsewhere for intel on what companies like yours pay for their Qualtrics subscription. Let’s take a look at your options.
Searching online for pricing insights
Your first option is to scour the internet for anecdotal information about what other companies have been quoted or billed for their Qualtrics subscription.
As an example, a PCMag article reports that Qualtrics prices start at $1,500 per year.
Elsewhere, this article on Zight corroborates the $1,500 starting price but notes that plans go up in price to $5,000 per year, based on usage, seat count and the size of your business.
But while these insights offer a frame of reference for what you might end up paying for a Qualtrics plan, the issue with this approach is that it can only provide a ballpark figure. There’s no guarantee that the pricing information you find online is up-to-date, or even accurate. SaaS prices are always subject to change, and have been on a steady incline in recent years, with price increases rapidly outpacing the rate of market inflation.
In fact, users on a Quora thread dedicated to Qualtrics pricing each share a different account of what their subscriptions cost.
One commenter writes that the yearly subscription is $7,000 per year, with a 5% pricing increase back in 2017 — and even this higher quote is likely to be outdated, having been posted six years prior to the time of writing.
The bottom line is, when you search online, you’re likely to get a mixed bag of figures and some unreliable accounts of how much Qualtrics costs.
So, how can you find reliable intel on the cost of a Qualtrics subscription?
In short, with Vertice. We have access to the pricing and discounting data from over 16,000 software providers, Qualtrics included. But we’ll talk about that shortly.
Can you get a discount on Qualtrics pricing?
The reality is, SaaS prices are rarely set in stone — and this means that there is often the opportunity to obtain a discount on your subscription pricing. In fact, our data shows that companies with similar usage needs pay inconsistent prices for Qualtrics, and there is a medium possibility of customers securing a discount on their fee.
Which begs the question: what tactics should you use?
Commit to a longer subscription period
It will come as no surprise that software vendors like a recurring sale. So, they will often offer additional incentives if you sign up for a longer subscription term — such as flexible renewal clauses or a discounted monthly fee. However, you should only consider an annual or multi-year subscription if you’re confident that the tool will remain a mainstay in your software stack for the foreseeable future.
According to our data, providers will generally offer an additional 5% off of their standard pricing for each additional year that a user signs up to. So, proposing a longer commitment could yield significant savings across your entire software stack.
Leverage pricing benchmarks
The most powerful form of leverage is intel into what organizations similar to yours are paying for their subscriptions. When you enter into negotiations equipped with this data, you’ll be prepared to negotiate the most competitive pricing for your business.
This is because pricing benchmarks provide clarity on how your quoted price compares to the going rate offered to your peers. As a result, you can determine whether the price or discount you’ve been offered is a good deal, or whether you need to negotiate for better terms.
However, as we’ve previously discussed, reliable pricing insights can be hard to come by. In order to get accurate and up-to-date information, you’ll need to talk to Vertice.
Partner with Vertice to reduce the cost of your Qualtrics subscription
We leverage the transactional data from over 16,000 global software vendors — Qualtrics included. But not only do we provide you with the pricing benchmarks to secure the best possible price for your contract, our expert SaaS purchasing team will also handle negotiations on your behalf.
This way, you can save on the time and energy required to procure best-in-class software contracts. And in addition, you’ll gain access to our SaaS management platform. Out of one convenient dashboard, this allows you to monitor your portfolio usage, spending, and cost-saving opportunities to trim your SaaS spending.
See for yourself how much you could save with a free cost-savings audit or browse our vendor database for exclusive pricing intel on thousands of software providers.