The Omnichannel Difference
Key Takeaways
⇨ Companies with advanced insights-driven business capabilities significantly outperform their peers, with respondents indicating that those firms are 8.5 times more likely to achieve a 20% or more increase in annual revenue.
⇨ Customer-obsessed firms prioritize personalization and agility, with 68% focusing on tailoring interactions across multiple touchpoints, compared to just 34% of non-customer-obsessed firms, which enhances customer experience and engagement.
⇨ Mature omnichannel strategies lead to tangible business benefits, such as higher margins and improved customer loyalty, with 62% of customer-obsessed firms reporting better financial outcomes from their omnichannel efforts compared to only 45% of non-customer-obsessed firms.
We’ve all heard the call to be more omnichannel in the way that will win, serve, and retain customers — especially as customers become more fluent across media and devices. But does an omnichannel approach contribute to business drivers like revenue growth, loyalty, and improved customer experience? What makes the difference between companies that do omnichannel well compared to those that don’t? And how do you become a firm that grows faster and has happier customers than your
competitors?
In May 2022, Emarsys commissioned Forrester Consulting to answer these questions. Specifically, the project’s charter was to determine which companies were using omnichannel strategies to effectively deepen customer relationships to drive business growth. To accomplish this, Forrester surveyed 622 manager-level and above respondents in retail, consumer products, media and entertainment, and travel and hospitality, then sorted their companies into a maturity segmentation using our existing Customer Obsession Assessment.1 Results identified key differences in the omnichannel strategies of more mature (i.e., customer-obsessed) and less mature (i.e., non-customer-obsessed) companies.
Mature firms invest to be insights driven. Respondents from the most mature firms said their organizations invest in the tools, skills, and culture to be insights driven. Respondents from customer-obsessed organizations said their companies are improving their use of data and analytics by cleaning their data, developing unified data structures, and using insights to inform and act on decisions at scale.
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