Omnichannel customer experience is something that all companies strive for, and a powerful technology solution is a necessary first step for organizations that are looking to create connected, effective customer experience. One CX solution provider, Genesys, recently received some good news from a Forrester report regarding the return on investment for users of its customer experience platform.
 
The Total Economic Impact report shows a 158% ROI over the five years following implementation of the Genesys Customer Experience Platform. As the number of engagement channels continues to grow, customer experience technology needs to adapt accordingly, incorporating seamless omnichannel communication, and allowing users a comprehensive dashboard of CX metrics across multiple engagement mediums.
 
The study also found that retention rates benefitted significantly from the platform, with clients observing a 50% reduction in customer abandonment during key points in the customer journey. Additionally, companies saw more $1 million in revenue increases due to higher ecommerce traffic and increased voice conversions.
 
The study wasn’t limited to U.S. corporations; researched clients included a Chinese computer technology provider, an African mobile communications company, and a private South American financial conglomerate in addition to an American financial services organization.
 
“For organizations, the study demonstrates the value of a modernized customer engagement strategy using an omnichannel engagement center to improve revenue, lower operational costs, and increase employee satisfaction,” said Reed Henry, CMO at Genesys. “The Genesys Customer Experience Platform powers this next generation customer engagement solution, acting as the system of engagement across the journeys in the customer lifecycle to deliver personalized, omnichannel experiences.”
 
Modern customer experience has gone far beyond simply reaching out to customers. Companies must now fully understand the needs and desires of each customer in order to engage with them and offer relevant and customized experience. Examining each touch point allows brands to determine where points of friction occur along the customer journey, and create a smoother customer experience that will create brand advocacy and improve customer retention.
 
“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,” said Liz Witherspoon, Senior Consultant at Forrester Consulting and Lead Author of the report. “They accomplish this while significantly reducing technology and personnel costs.”

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