Providing a differentiated customer experience (CX) requires strategic vision and a long-term investment. To help organizations cut through the clutter and understand the return on investment (ROI) potential of a differentiated CX offering, enterprise experience management provider Service Management Group (SMG) commissioned Forrester Consulting to conduct a Total Economic ImpactTM study of its customer experience management platform.
Based on extensive client interviews and data validations, Forrester concluded SMG brand partners are realizing significant value and ROI from the smg360® customer experience platform. Within just three years, an organization can realize a 551 percent ROI, payback period of less than six months and $14.7M in total benefits from increased revenue, labor turnover cost reduction and process improvements.
In an interview for the study, a customer experience manager for a quick-service restaurant chain said, “Our SMG analysts understand our industry, understand our business and pay attention to where our focus is… We take their recommendations very seriously and frequently start developing an implementation plan the same day. SMG plays an integral role in our efforts to continually improve.”
The smg360 platform is designed to help brands grow existing revenue, generate new revenue, reduce churn and detractors, and drive operational efficiencies. When you combine the robust platform—which includes capabilities like intuitive dashboards, role-based reporting, AI-native text analytics and case management—with unmatched professional services, SMG is equipped to help brands create a customer-centric culture, drive action and improve financial outcomes.
“Our software with a service (SwaS) model combines the power of an enterprise experience management platform with industry-leading professional services to help brands change the way they do business,” said SMG President Ken White. “The Forrester Consulting study validates the business impact of our customer experience offering and our unique ability to help brands turn insights into business outcomes.”
Forrester’s Total Economic Impact™ (TEI) consulting practice develops business value justification analysis to help consumers and organizations understand the financial impact of a technology investment. The TEI methodology has been used for more than 20 years and is a proven industry-standard framework that models all aspects of a piece of technology, the associated impacts on the business and the ROI of products and services. It consists of four components to evaluate investment value: cost, benefits, flexibility and risk.
To learn more about how SMG partners with brands to deliver tangible results and drive business outcomes, download a complimentary copy of the Total Economic ImpactTM study.
About Service Management Group
SMG inspires experiences that improve people’s lives. We are a catalyst for change—helping organizations generate new revenue, grow existing revenue, reduce churn and detractors, and drive operational efficiencies. Our unique software with a service (SwaS) model puts a dual focus on platform technology and professional services, making it easy for brands to activate insights based on customer, patient, and employee feedback. To learn more about our customer, employee, and brand experience management (XM) solutions, visit www.smg.com.