It seems like the "adoption of omnichannel" has appeared on all of the annual industry prediction lists for at least the last four years. And I predict it will appear on those lists for at least four more. This is because omnichannel isn't a quick win, passing fad. It's typically a multi-year business strategy that requires a significant investment of resources, time and money. In a study by ContactBabel, only 15% of companies surveyed said they were able to deliver an omnichannel experience. This was up only three points from two years prior. Clearly, it's an evolution, not a revolution.
The barriers to delivering true omnichannel support can be significant. Data, technology and organizational buy-in can all pose challenges. That's why our new whitepaper, "The Inner Circle Guide to Omnichannel," is so important. We partnered with ContactBabel to deliver to you a tool that is loaded with statistics, tips and thought provoking content about all things omnichannel.
Here's an example that will hit home with anyone who has ever been tasked with developing a business case for omnichannel. Estimating the expenses for the business case is typically straightforward. Estimating the tangible benefits, not so much. You have to make educated assumptions about reducing costs and increasing revenue. Not only is it hard to develop the numerical assumptions (like increasing customer retention by X%), but sometimes it's tough to even come up with the categories of benefits.
"The Inner Circle Guide to Omnichannel" can help get you started by suggesting several categories of benefits to include in the business case for omnichannel. Here are some ideas from the Proving ROI section of the whitepaper:
Increasing revenue, by:
- Increasing upsell/cross-sell due to fewer customers abandoning their transactions
- Increasing customer lifetime value
- Increasing customer loyalty and retention
Decreasing costs, by:
- Reducing calls by offering more effective self-service
- Reducing call lengths by populating relevant information from other channels on the agent desktop
- Reducing calls by improving first call resolution rates
The business case for omnichannel might be the single most important tool that you can use to get everyone on board with this initiative. Our whitepaper will help you make it as thorough as possible.
But that isn't all this whitepaper contains. There are also sections on customer and business drivers for omnichannel, analysis of key elements about individual channels, barriers to omnichannel, and getting omnichannel right. ContactBabel has put on their thinking caps in order to provide you with statistics about diverse topics ranging from projections about channel useage to customer preferences by age to average cost per contact by channel. You'll find the information to be insightful and enlightening.
Whether you're an omnichannel veteran or just getting started, there is something in this whitepaper for you. Download your complimentary copy now.