Study Further Finds That Centralizing CX Operations And Use of Automation and Intelligence Provides Measurable Value To Brands
New York, NY – August 3, 2021 – Kustomer, an all-in-one, top-rated AI-powered CRM for modern customer experiences, today releases findings from Forrester’s Total Economic Impact™ (TEI) study showing that organizations that switch to Kustomer see up to a three-year 422% in return on investment (ROI). This study was based on the experiences of e-commerce retailer, a consumer marketplace, and direct-to-consumer retailers, who after switching to Kustomer, benefited from significantly lower CRM solution costs, increased agent productivity, and, for some, improved Net Promoter Score*.
By unifying and centralizing omnichannel CX operations, the interviewed organizations reduced their net cost of CRM tools by more than 40%, and increased agent efficiency and effectiveness by up to 30%. AI-driven workflows and intelligent chatbot, improved handle times by 50% and reduced customer service operating costs by 88%, freeing up agents for more valuable tasks.
“This Forrester analysis validates the essential role that centralized CX operations driven by intelligence and automation play in providing on-demand experiences at scale,” said Brad Birnbaum, founder and CEO of Kustomer. “Exceptional customer service and automation are not mutually exclusive. Unified customer visibility coupled with AI-driven operations are key for delivering quick, easy, and personalized services customers demand. These findings, coupled with our recent Business Intelligence Group’s Artificial Intelligence Excellence award, show that our investment in AI translates into meaningful gains for businesses and customers alike.”
TEI Study Findings
Kustomer commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying its all-in-one, AI-powered customer service CRM platform. To better understand the benefits, costs, and risks organizations experience when switching to Kustomer, Forrester interviewed four customers with experience using Kustomer and aggregated the experiences of the interviewed customers and combined the results into a single composite organization.
The study found a host of quantified benefits of using Kustomer, including:
- Reduced net cost of CRM tool by 40%. Kustomer eliminated the need for multiple platforms and expensive consultants to deploy, manage and deliver support, delivering an average net price savings of 40%.
- Increased agent efficiency and effectiveness by up to 30% with workflow automation. A unified customer view and customizable AI-driven workflows based on real-time customer data allowed organizations to automate repetitive processes, manual tasks, and routine customer-agent dialogue flows, which drove a 20%-30% boost in agent efficiency.
- Reduced service costs by 88%. CRM-powered chatbots enabled personalized end-to-end service automation, reducing the number of conversations sent to agents and resulting in an 88% reduction in service costs.
- Increased agent productivity by 50%. Leveraging Kustomer’s AI-powered chatbots to detect intent, determine next action, collect information, and trigger relevant workflows, organizations eliminated the overhead associated with manual triage and increased agent productivity by 50%. According to one Kustomer client, “We would need 20% more agents to handle the same workload we do on Kustomer.”
“With our previous platform, agents spent more time looking for information, and because it could not trigger important automations, some manual actions were required,” said [insert name, title, company]. “We would need 20% more agents to handle the same workload we do on Kustomer.”
Additionally, the study uncovered unquantified benefits including:
- Improved effectiveness of social media channels. Using Kustomer’s integrated customer service CRM, organizations were able to extend social channels beyond marketing and brand awareness to customer service and engagement. Businesses were able to leverage social channels to follow up on customer inquiries, prioritize influential accounts, improve purchase afterglow, and manage multiple brands from one centralized location.
- Reduced training time for agents. Unified customer visibility and centralized customer service operations eliminated the need to train agents on multiple platforms, making onboarding new support agents faster and easier.
- Operational flexibility. Kustomer enabled the responsive and flexible allocation of customer service agents, depending on business needs.
“Before switching to Kustomer, the businesses we work with struggled to provide a high level of service without a unified customer view, putting their brand’s reputation and customer loyalty at serious risk,” added Birnbaum. “Forrester’s assessment of Kustomer’s economic impact provides further proof that our easy-to-use CRM platform, fueled by intelligence and automation, creates a better experience for consumers while saving businesses valuable time and money.”
Kustomer is a top-rated CRM, helping leading brands deliver modern customer service that creates customers for life. Through AI-powered automation, Kustomer scales to meet the needs of contact centers and businesses, enabling companies to deliver effortless, consistent and personalized service and support through a single timeline view. Today, Kustomer is the core platform of some of the leading customer service brands like Ring, Glovo, Glossier and Sweetgreen. Headquartered in NYC, Kustomer was founded in 2015 by serial entrepreneurs Brad Birnbaum and Jeremy Suriel, has raised over $174M in venture funding, and is backed by leading VCs including: Coatue, Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco Investments, Canaan Partners, Boldstart Ventures and Social Leverage.
*Net Promoter and NPS are registered service marks, and Net Promoter Score is a service mark, of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.
Download the full Total Economic Impact™ Study