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Learn how to effectively benchmark your omnichannel strategy for improved customer experience and retention.
Omnichannel benchmarking helps businesses measure and improve how well their channels work together to create a seamless customer experience. Here's what you need to know:
Track key metrics across different channels to identify strategies that work and uncover areas needing improvement.
Customer Lifetime Value (CLV) helps estimate the total net profit a customer will bring throughout their relationship with your business . It's a vital metric for assessing long-term performance in an omnichannel setup.
The Net Promoter Score (NPS) offers insight into customer loyalty. Companies with strong NPS scores often achieve growth rates twice as high as their competitors . Here's how NPS responses are typically categorized:
| Score Range | Customer Type | Impact on Business |
|---|---|---|
| 9–10 | Promoters | Drive growth through referrals |
| 7–8 | Passives | Satisfied but open to competitors |
| 0–6 | Detractors | Potential source of negative feedback |
Customer retention rates are equally important. Increasing retention by just 5% can lead to profit increases ranging from 25% to 95% . Pair retention metrics with acquisition costs to get a clear picture of overall customer relationship health.
Metrics at the customer level are essential, but it's also important to evaluate individual channel performance.
Each channel should have its own set of metrics to fine-tune the customer journey. Focus on the following:
These metrics provide a foundation for analyzing how channels work together.
To understand how channels interact, focus on these areas:
Keep an eye on engagement spikes and guide customers to less congested channels during busy periods . This ensures smoother operations and better customer experiences.
Having the right measurement tools can make or break your omnichannel strategy. With 90% of consumers expecting a seamless omnichannel experience , it's crucial to use the best tools, methods, and frameworks to track and optimize your efforts.
Tracking across multiple channels requires software that pulls data from various sources into one place. Here are some of the top tools experts recommend:
| Tool Category | Key Features | Ideal Use Case |
|---|---|---|
| Analytics Platforms | Real-time tracking, unified dashboards, cross-channel attribution | Monitoring overall performance |
| CRM Systems | Unified customer profiles, interaction tracking, behavioral analysis | Mapping customer journeys |
| POS Integration | Sales data, inventory tracking, order management | Aligning in-store and online sales |
Mason Boroff highlights tools like Porter Metrics for performance tracking, SmartLead for lead attribution, and GoHighLevel for unifying customer data. These tools are particularly suited for businesses with annual revenues exceeding $5 million.
To measure effectively, integrate your omnichannel messaging tools and CRM systems. This allows you to:
Maintaining clean, consistent data is essential. Use data governance policies and automated tools like Close or Hyros to ensure accuracy and streamline the process .
Once you have the tools and data in place, industry standards help set benchmarks for performance across channels. These frameworks ensure you're analyzing results consistently.
"The increasing penetration of digital channels, mobile devices, and social networking platforms collectively drives the demand for a seamless omnichannel experience. Brands understand that to remain relevant, they must be omnipresent." – Nicolette V. Beard, Content Writer, BigCommerce
Examples of widely used frameworks include:
These models assess key areas like channel integration, customer journey consistency, fulfillment processes, and how well digital and physical channels align.
For instance, Veronica Beard's clienteling program in 2023 saw a 35% conversion rate, with one in four customer interactions leading to a sale. This also resulted in a 1.26x increase in average order value .
Start by recording your current performance metrics across all channels. This will serve as your baseline for comparison. Research shows that businesses using three or more channels see a 287% higher purchase rate .
Pay attention to these key areas:
| Customer Journey Stage | Key Metrics to Track | Data Collection Method |
|---|---|---|
| Awareness | Traffic generation, Visit rates | Analytics platforms |
| Engagement | Product recommendations, Offers per visit | CRM systems |
| Conversion | Cross-channel conversion rate, Average basket size | POS integration |
| Loyalty | Customer lifetime value, Revisit frequency | Customer Engagement Platform |
Bring all this data together using a Customer Engagement Platform for a unified view of customer interactions . Segment your audience to better understand performance variations across different groups.
Compare your metrics to those of similar companies in your industry, considering factors like size, location, and business model .
"As the industry shifts toward omnichannel communication, traditional KPIs like Average Handle Time must adapt. It's no longer just about speed - it's about balancing efficiency with quality interactions across multiple platforms." – Christian Montes, Executive Vice President Client Operations
Here are some benchmarks to guide you:
Use these standards to identify where your performance falls short. This step will highlight areas that need attention, setting the stage for Step 3.
After reviewing the market, identify gaps and set measurable goals. According to a PwC study, 82% of customers are willing to share personal data for a more tailored experience . Use this insight to align your gap analysis with your omnichannel strategy, ensuring any changes improve the overall customer experience.
To conduct a gap analysis effectively:
For instance, a major Polish mobile network operator used Zeta's scoring model to analyze site engagement. This helped them predict sales likelihood with precision and refine their strategy accordingly .
Data shows that omnichannel customers spend 10% more online and are 90% more likely to stay loyal compared to single-channel customers .
Here’s how to turn benchmarking insights into actionable strategies:
| Focus Area | Action Steps | Expected Outcome |
|---|---|---|
| Customer Experience | Use personalized recommendations | 13% increase in average order value |
| Channel Integration | Implement unified CRM systems for better tracking | 250% boost in engagement rates |
| Digital Tools | Introduce AI-powered chatbots for quick responses | Chatbot usage jumped from 31% in 2023 to 40% in 2024 |
For instance, Sephora uses digital data to tailor recommendations and create smooth customer experiences, which has significantly improved their conversions .
Once improvement plans are in place, it’s important to track progress regularly. Set up a review schedule that aligns with your business needs and market dynamics. Here’s what performance review trends reveal:
Real-time dashboards can help you monitor critical metrics. For example, businesses with high First Call Resolution (FCR) rates see a 30% jump in customer satisfaction .
If performance reviews reveal ongoing issues, consider consulting omnichannel specialists. Focus on areas that can maximize customer impact and operational efficiency.
Specialists can assist with:
Consistent evaluation is key. Analyzing customer feedback across all channels helps uncover new challenges and opportunities . Expert input ensures your benchmarking efforts lead to meaningful and measurable progress.
| Focus Area | Next-Step Priorities | Immediate Benefit |
|---|---|---|
| Metrics Assessment | Focus on NPS, CSAT, and CLV | Make more informed decisions |
| Technology Investment | Allocate tech budget wisely | Stay ahead of competitors |
| Channel Integration | Improve cross-platform efforts | Boost engagement by up to 250% |
These areas can serve as your action plan moving forward.
After analyzing your benchmarks, take the following steps to address gaps and improve your omnichannel strategy.
"Whatever you spend on digital tech this year, don't promise the board that spend will go down. Every year the bar will up, and retailers need to stay competitive, so every year, look for room in your profit and loss to fund that. We're in an era with constant spend on technology. Retailers have to be flexible."
"Retailers that don't see the value of omnichannel now will eventually experience growing pains as the evolution picks up speed. When their customers pull them toward it, they'll have to respond."
