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 Retailers have been trapped with legacy solutions from outdated categories, creating wasteful spend and ineffective programs.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.
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:
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.
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:
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.
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.
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.”
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.