Genesys released the results of the commissioned Total Economic Impact 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 realized 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 Impact of Genesys Omnichannel Engagement Center Solution.”
“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, Chief Marketing Officer 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.”
Value by the Numbers
The Forrester study shows that when companies enhance interactions for their customers through the Genesys Omnichannel Engagement Center Solution, they experienced improved e-commerce conversions, reduced cost in contact center 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 center agents
- 5% improvement in agent handle time
- 8 month payback period
Need for an Omnichannel Engagement Center
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 personalized 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 Center,” organizations are building out the next generation of customer engagement, the Omnichannel Engagement Center, which takes the perspective of customers over time, across journeys and the entire customer lifecycle, spanning contact centers, websites, mobile apps and social networks. The Genesys Omnichannel Engagement Center Solution acts as the system of engagement for organizations to orchestrate engagement with their customers across all touchpoints, channels and journeys.
Evolution to the Omnichannel Engagement Center
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 Impact, Forrester Consulting.