Ivan Mazour
Ivan Mazour
Posted 03 February 2023

5 key findings from our Forrester Consulting TEI study illuminate the value of Ometria’s CDXP for retail marketers

In 2013, on the very first version of Ometria’s website, we committed to being a company “built by retailers, for retailers.” Ten years later, that statement remains unchanged, but what has evolved is the needs of retail marketers (and, luckily, our website design).

Over the last few years, the convergence of cross-channel marketing platforms and CDPs has led many analysts to predict a collision course. Retailers have been trapped with legacy solutions from outdated categories, creating wasteful spend and ineffective programs.  

At Ometria, this is precisely why we developed a solution for the market that combined those capabilities into a single platform, a Customer Data and Experience Platform: the Ometria CDXP built for Retail Marketers.

Our platform combines the data unification and customer insight of a CDP with an experience platform, unlocking customer loyalty and CRM growth by helping retailers create personalized, cross-channel, marketing experiences their customers love at scale.

The results our retail customers have realized from this innovation have been awe-inspiring. So with a desire to better quantify this value, we commissioned Forrester Consulting.

An independent and objective study

We commissioned Forrester Consulting, part of Forrester Research, the highly respected and independent research organization, to complete an objective Total Economic Impact™ (TEI) study on Ometria’s Customer Data and Experience Platform.

Our reasons for doing this were two-fold:  

  • We wanted to truly quantify, internally and externally, that our evolution into a CDXP provides positive ROI and Net Present Value (NPV). 
  • It’s important that our CDXP continues to specifically benefit retail marketers; the methodology that Forrester employs not only outputs ROI, it also provides valuable insights from real client interviews which show that we are staying true to what we committed to back in 2013 – “built for retailers”.

The Forrester study found that Ometria’s CDXP delivered a 430% ROI over three years for a composite organization representative of interviewed customers. The study captured several customer sentiments which we believe reinforce the value of the platform’s retail-specific features.  

5 key findings from the Forrester TEI study

1. Increased net operating revenue from increased personalization and engagement

The Forrester study helped to quantify more than just ROI. Over 3 years, it found a 5x lift in net operating revenue from increased personalization and engagement with the deployment of Ometria’s CDXP. 

The metrics they used to come to that conclusion are equally as compelling, too. They heard directly from interviewees that retailers saw: 

  • 15% increase in CLTV (retail gifting marketplace)
  • 10% increase in customer reactivation (retail gifting marketplace)
  • 23% increase in online CRM revenue (retail gifting marketplace)
  • 56% growth in email contributions to online revenue (luxury chocolate and confectionary retailer)

2. Retail-specific features improved insights, tracking of customer behavior and targeting

The interviewees’ organizations required more robust features to maximize efficiencies and campaign success. Lacking customer insights and segmentation that would help drive strategic, personalized campaign efforts meant that organizations feared losing their existing competitive advantages. Trusting Ometria’s CDXP to accurately segment, analyze and track retail customer behavior continuously improved the customer experience.

“We see new ways of looking at customers that we would have never even considered before. For example, we have created tiers within the model for people that spend loads of money but buy once a year versus people that only spend three pounds at a time but that on a weekly basis. There are so many ways of segmenting customers in different groups that we would have never thought about.”

CRM executive, luxury chocolate and confectionary retailer
[RFM Modelling in the Ometria platform] – Our Customer Insights tools provide metrics and tools to classify and analyze your contact base, highlighting common behaviors and evolutions.

3. Consolidation of Legacy Tools 

With Ometria’s CDXP, clients have the opportunity to drop their legacy tools with redundant capabilities by adopting Ometria’s single platform.

The TEI study states: “Interviewees reported that they were able to replace or consolidate existing legacy CRM solutions with Ometria’s streamlined, comprehensive CDXP.”

Consider how much you spend on your marketing technology such as CDP, ESP, analytics, reporting. Now imagine the cost-savings and process improvements you’d realize by consolidating all of those capabilities into a single platform. This is the value Ometria’s CDXP is bringing to clients every day.

4. CRM team efficiencies gained and improved time to market

Outside of the Forrester study, through writing case studies and anecdotal conversations with our clients we’ve heard first-hand many success stories about CRM teams saving time and resources since deploying Ometria’s CDXP.

The Forrester study was able to quantify this through objective interviews. Across all 4 organizations Forrester interviewed, interviewees “attributed a 25% efficiency gain for the CRM team to Ometria, as it eliminated most of the manual, labor-intensive, and time-consuming tasks previously required to market to their customers.”

[The Realtime Dashboard in the Ometria Platform] – Our Realtime Dashboard is just one feature that brings efficiency gains to CRM Teams. It presents, in real-time, current active visitors to your site, products being browsed, items in checkout, orders placed today, and key traffic sources.

5. Elimination of silos and improved collaboration

Sometimes it takes a third party to help you understand the benefits of your solution. The Forrester study found that the benefits of a CDXP extended beyond the CRM team.  

One of our favorite quotes from an interviewee published in the study: 

“Ometria makes working on large scale campaigns really easy. The insights team, the campaign manager, and the copywriters all have direct access to our templates and can provide the information we need or make the necessary edits. Even the customer relations department has access to that information… In fact, the brand center for the customer care team doesn’t need to send us an email and wait for our reply. They can delve straight into the platform, see a customer profile, and get the information they need […] It’s that sort of access that the other teams have that really helps us to be more collaborative.”

CRM Executive for a luxury chocolate and confectionary retailer

We knew that we built a platform that was right for retailers, but we believe the findings from this study confirm that retailers are finding new ways every day to extract value and deliver results. 

Download your copy of the complete Forrester Consulting study, The Total Economic Impact of Ometria’s Customer Data and Experience Platform here.

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