Research Shows Omnichannel Engagement Solutions Deliver Big Financial Returns
Independent study found Genesys customers achieved 158% return on investment across entire contact centre operations
Frimley, UK — February 17, 2016 — Genesys (www.genesys.com/uk), the market leader in omnichannel customer experience (CX) and contact centre solutions, today released the results of the commissioned Total Economic ImpactTM study conducted by Forrester Consulting that examined the return on investment of deploying the Genesys Customer Experience Platform by large companies.
The findings show that Genesys customers realised a 158% return on investment (ROI) over five years from the date of purchase, along with business improvements including e-commerce sales conversions, customer engagement and agent productivity. Companies in the study using Genesys solutions saw an ROI in less than 13 months, according to the Forrester study, “The Total Economic ImpactTM of Genesys Omnichannel Engagement Centre Solution.”
“The study provides conclusive evidence that organizations embracing an omnichannel approach to their customer experience strategy realize not only lower costs and improved revenue performance but also an increase in employee satisfaction,” said Merijn te Booij, Chief Marketing Officer at Genesys. “To remain competitive and deliver the kind of personalised service that today’s customers want, an investment in the Genesys Customer Experience Platform is a sound business decision.”
Value by the Numbers
The Forrester study shows that when companies enhance interactions for their customers through the Genesys Omnichannel Engagement Centre Solution, they experienced improved e-commerce conversions, reduced cost in contact centre maintenance and faster resolution times by agents. The key findings include:
50% reduction in customer abandonment at key points in the customer journey
Over $1 million in increased revenue through increased e-commerce and voice conversions
50% cost reduction to integrate new contact centre agents
12.5% improvement in agent handle time
12.8 month payback period
Need for an Omnichannel Engagement Centre
Customers are increasingly digitally savvy, social media-minded and mobile-first, and demand an intuitive and seamless customer experience. As the number of channels and customer touchpoints have skyrocketed and customer expectations for simplicity and personalised service have expanded, companies need a system of engagement that offers a unified and consistent approach to engage with their customers.
As shown in the figure “Evolution to the Omnichannel Engagement Centre,” organisations are building out the next generation of customer engagement, the Omnichannel Engagement Centre, which takes the perspective of customers over time, across journeys and the entire customer lifecycle, spanning contact centres, websites, mobile apps and social networks. The Genesys Omnichannel Engagement Centre Solution acts as the system of engagement for organisations to orchestrate engagement with their customers across all touchpoints, channels and journeys.
Evolution to the Omnichannel Engagement Centre
Forrester identifies the need to engage customers across all technology touchpoints as a necessity in the “Age of the Customer.” Technology-empowered customers now know more about products and services, pricing, and reputation than ever before. The only way to win, serve and retain customers is to become customer-obsessed.
“Using the Genesys solution, enterprises are able to improve customer experience, agent productivity, and efficiency of customer service across all digital and voice touchpoints, channels and journeys. They accomplish this while significantly reducing technology and personnel costs,” according to the lead author of the study Liz Witherspoon, Senior Consultant, Total Economic ImpactTM, Forrester Consulting.
Join the Genesys webinar, “Delivering the True Value of Omnichannel: The Total Economic Impact™ of the Genesys Omnichannel Engagement Centre Solution,” for a deeper analysis of the study presented live for North America, Europe, Latin America and Asia-Pacific time zones. Speakers include: Art Schoeller, Vice President and Principal Analyst, Forrester Research; Liz Witherspoon, Senior Consultant, Total Economic Impact Practice, Forrester Research; and Lisa Abbott, Director of Product Marketing, Genesys.
Forrester interviewed and collected data from global enterprise companies currently using the Genesys Omnichannel Engagement Centre Solution, Genesys marketing, sales and consulting personnel, as well as Forrester analysts. The five Genesys customers featured in the study included:
An American multinational financial services corporation headquartered in the United States with over $10 billion in revenue.
A $42 billion Chinese multinational computer technology company with headquarters in China and the United States.
A global event e-commerce leader with one of the world’s top five e-commerce sites and over 32 million monthly unique visitors driving sales of over $8 billion.
An African mobile communications company with over $5 billion in revenue, providing voice, messaging, data, and converged services to over 55 million customers in 40 countries.
The largest private financial conglomerate in South America with over $3.9 billion in revenue and among the largest banks in the world with operations in 20 countries and more than 4,000 branches.
Genesys, creator of the world’s #1 Customer Experience Platform, empowers organisations to build exceptional customer relationships with personalised, omnichannel experiences across all journeys in the customer lifecycle. For over 25 years we have put the customer at the centre of all that we do. We passionately believe that great customer experience drives great business outcomes. Trusted by over 4,700 customers in 120 countries, Genesys orchestrates over 24 billion interactions per year in the cloud and on premises. For more information www.genesys.com/uk.