CRM teams were able to deliver an 18% repurchase rate increase alongside improved customer engagement, presenting a risk-adjusted net present value of $3.5M to retailers
Ometria, the customer data and experience platform (CDXP) for retailers, commissioned Forrester Consulting to conduct a Total Economic Impact study examining the potential cost savings and business benefits of using Ometria’s CDXP over the course of three years. The study, published in January 2023, found that a composite organization representative of interviewed retailers deploying Ometria yielded a return on investment (ROI) of 430% by enabling more intuitive, AI-driven customer insights and messaging delivery.
Retailers today seeking sustainable CRM growth need fast ways to consolidate customer data in order to engage customers and personalize their journeys across all their channels. Ometria offers AI-powered insights, segmentation capabilities, and a centralized dashboard to enable retail enterprises to create and deliver impactful campaigns across all their touchpoints. This empowers markets to improve the customer experience at scale, leading to stronger customer relationships that drive increased revenue.
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“Customers are being exposed to more brands, more products, and more technologies. They are consuming more information on a daily basis than anything that was conceivable before. It’s impossible for most retailers to keep up as consumers’ expectations are outpacing their capabilities”
“Customers are being exposed to more brands, more products, and more technologies. They are consuming more information on a daily basis than anything that was conceivable before. It’s impossible for most retailers to keep up as consumers’ expectations are outpacing their capabilities,” said Djalal Lougouev, CSO and Co-Founder, Ometria. “While we know that Ometria dramatically decreases the time needed to effectively segment and deliver personalized comms across their channels, it’s great to be able to see exactly how significant this impact can be on the bottom line for retailers. The net present value of Ometria over three years was worth more than $3.5million.”
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Forrester Consulting identified quantified benefits from leveraging Ometria over a three-year period for the composite organization. Most significantly, the repurchase rate by customers increased by 18%. Other benefits included consolidation of legacy tools – with Ometria’s retail-specific platform allowing consolidation and automation in a single platform for CRM. Crucially, the platform also delivered team efficiencies. The automation of the creation and delivery of customer communications across multiple channels means tasks took less time and could more often be completed within the team, rather than being outsourced. In fact, the CRM team could usually reassign a team member to other value-adding activities due to the time efficiencies gained via Ometria, creating additional value for the business as a whole.
“The most crucial part of what we do is unlocking retailers’ potential, by helping their CRM teams build these incredible experiences for their customers at twice the speed and efficiency. Ometria’s advanced insights and automation capabilities mean that CRM teams can become faster, more self-reliant, and more data-driven in their approach to retention marketing. This has huge positive benefits for both the bottom line and the employee experience of their role – and we believe our TEI study reflects that,” adds Djalal.