What does reducing customer friction look like for my company?

Retail

In a sea of ordinary CX, be a unicorn

When today’s customers engage with retail companies, they expect highly personalized experiences and the power to define their shopping experience. Retailers must quickly understand customer behavior and engage with them before they abandon their online cart or leave the store. Using proprietary data to create individualized experiences, retailers are able to differentiate themselves and gain a competitive advantage, driving up both revenue and customer loyalty.

Research shows that only 15% of retailers have fully implemented a personalization strategy (McKinsey). Solutions that offer comprehensive journey management, including customer experience analytics, can help retailers overcome some of the challenges they have with launching personalized experiences, both digital and in person.

The results are well worth the effort since experience based retailers see an average revenue growth of 19% compared to an average of 13% among other retailers (Forrester).

It starts with BryterCX.

Proven ROI for Retail Companies

BryterCX partners with clients to deliver customer-delighting, company-revolutionizing results with IRISTM, our journey management solution. With IRISTM, you get the insights you need to create meaningful human experiences and win customers for life. With our solution, companies typical experience:

  • Customer churn reduced by 20%
  • Customer satisfaction increased by 25%
  • Operational costs reduced by 20%

According to a Forrester report we’ve helped industry leaders achieve over 300% ROI from their journey management investment with BryterCX. Total benefits generated over a 3 year period also include:

  • $4.6M – Revenue retention
  • $5.8M – Cost savings from reduced and avoided contacts
  • $12.2M – Cost savings from most efficient contact channel use

The Solution for CX Transformation

The IRISTM platform provides visibility into the true end to-end customer journey across channels. Through machine learning, this AI breakthrough allows you to discover journey insights and opportunities with ease. IRISTM uses proprietary journey scores and patented technology, giving you simple visual metrics and alerts to effortlessly measure, monitor, and manage the health of your journeys. IRISTM works efficiently with aggregated data, even from previously siloed sources, giving you a fast, complete and accurate picture of your customer journeys.

The Investment

With IRISTM, your average investment of less than $0.15 per customer per year will make it possible to:

  • Increase card enrollment and engagement with loyalty program
  • Optimize marketing campaigns to reduce missed bill payments and abandoned carts
  • Gain transparency into true customer journeys across channels to increase repeat purchases and reduce returns
  • Improve NPS and CSAT scores

Companies that connect siloed, fragmented data to create an omnichannel view of true customer experience can do this and more.

Take Advantage of the Disruption

The evolving consumer market has seen drastic changes in the last year, with an even stronger focus on digital experiences. Taking advantage of this shift means leveraging your CX capabilities.

The Path to Journey Maturity helps your organization create quality online experiences that will pay dividends in future ROI and customer retention. Find out how!

Want to supercharge your journey management efforts?

Start with this resource on “Demystifying Common Journeys”. Banks and financial service companies that understand the path their customers go through to accomplish a task and are able to apply journey mapping to create a visual representation of the desired path that they want their customers to experience are one step closer to complete CX illumination.

Retail Use Case: Online Purchase

Problem:

One of the world’s leading clothing retailers wants to adapt to market changes, including the increase in digital shopping and the spending power of millennial customers. Their plans include innovative marketing campaigns, updated product lines, and store renovations. But they need more insight before they launch all of the new initiatives.

Mapping the Customer Journey:

BryterCX maps the customer journeys for both millennial and digital shoppers. It is able to help the retailer overlay these maps with actual customer data from numerous interactions across all channels.

Findings:

  • From this mapping and analysis, BryterCX helps the retailer identify the key moments that drive purchasing decisions for both millennials and digital shoppers.
  • The retailer is able to better understand the most profitable channel for the millennial segment so as to create better, targeted marketing campaigns.
  • With a better understanding of the omnichannel journey for these two segments, the retailer is able to make improvements to its customer experience and track the revenue changes as a result of implementing these improvements.

Ready to learn more?

Achieve customer experience excellence with the customer journey experts at BryterCX.

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