Total Economic Impact™ study confirms Emplifi Live Commerce investment improves online sales conversion to 20%, up from 2%
The study examines the potential ROI and financial impact organizations realize by partnering with Emplifi, including sales consultant efficiencies with cost savings, a shortened sales cycle, improved CX, and customer data to inform decision making.
Emplifi, a leading unified customer experience platform, today released the Total Economic Impact™ (TEI) commissioned study conducted by Forrester Consulting on behalf of Emplifi, on a shopper’s purchasing journey and the use of Live Commerce for an integrated omnichannel experience.
The study noted that a shopper’s journey is now an integrated omnichannel experience. Online sales have steadily risen over the years, and the impact of the COVID-19 pandemic accelerated shifts in consumer behavior within eCommerce. While physical stores are still relevant, shoppers are increasingly ‘showrooming and webrooming’, with retailers placing more emphasis on customer experience (CX) to compete in the market.
The study found that prior to using Emplifi, interviewees identified various challenges, including the sales limitations of customer walk-ins or appointments. As well as capacity constraints on more complex sales transactions that need face-to-face interactions, website chatbots, or customer contact centers to answer sales queries. Consequently, retailers would miss out on sales opportunities and fall short of optimal CX.
Emplifi Live Commerce connects online retail customers to product-specialized store experts. Customers can get a live 360-degree view of products and engage with experts on demand without having to visit a store physically.
“Shoppers watch live streams of showroom people showing off products that they’ve just got in stock. It’s like the TV shopping channels but more real, and less pushy. This is where consumers are moving towards, interacting as they go”, said Matthew Lawson, Chief Digital Officer, Ribble Cycles.
Key quantified benefits from implementing Emplifi Live Commerce investment include:
Improved sales consultants’ efficiencies with less time spent on transactions compared to face-to-face interactions, which also shortens the sales cycle (equivalent to saving US$1.6 million over three years).
Online sales conversion rate at 20%, compared to 2% before using Emplifi Live Commerce.
A seamless customer journey and better sales interaction with greater personalization opens the door for further sales opportunities.
New sales channel offering and increased customer reach.
Better use of customer insights that inform future strategy and decision-making.
“Our customers choose Emplifi Live Commerce so they can provide more seamless omnichannel experiences, specifically across commerce and customer care touch points,” said Mark Zablan, CEO, Emplifi. “Live commerce is gaining momentum, as ‘showrooming and webrooming’ are becoming more important to online shoppers during the purchase journey. Forrester’s TEI study findings support what we’re seeing, that Live Commerce helps brands improve engagement and personalization, resulting in a faster path to consideration and purchase, more in line with the physical store experience."
Total Economic Impact is a methodology developed by Forrester Consulting that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed five representatives with experience using Emplifi. For this study, Forrester aggregated the interviewees’ experiences and combined the results into a single composite organization that is a large, high-end specialist product retailer with revenue of US$500 million per year.
Emplifi is the leading unified CX platform that brings marketing, commerce, and care together to help businesses close the customer experience gap. More than 7,800 brands, including Delta Air Lines, Ford Motor Company, and McDonald's, rely on Emplifi to provide their customers with outstanding experiences at every touchpoint. For more information, visit www.emplifi.io.