Independent research study shows Relay customers accrued more than $18 million in benefits through adoption of a Relay Customer Feed™
RADNOR, PA / ACCESSWIRE / April 19, 2022 / Relay Network ("Relay"), the innovator of SaaS business feeds that drive unmatched customer, member and employee engagement, today disclosed the findings of a commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Relay. The study revealed that, over the course of three years, a composite organization achieved a 600% return on investment (ROI) and a 33% increase in average customer lifetime value (CLV) as a result of deploying a Relay 1:1 Customer Feed™.
Prior to rolling out Relay Feeds, the interviewees reported having rudimentary, decentralized customer engagement strategies that lacked the ability to reach customers in a contextually relevant way, and which relied on an archaic mix of omnichannel, direct mail and telemarketing tactics. Upon implementing a Relay Feed, interviewees reported dramatically improved customer engagement, increased CLV and greater digital adoption on engagement initiatives.
"The best customer engagement strategies take into consideration the ways customers want to navigate today's digital world," said Matt Gillin, CEO and Co-Founder of Relay Network. "The TEI study provides quantitative proof that Relay's feed technology delivers both a higher rate of engagement and the type of engagement that builds more valuable customer relationships by any measurement. This is why we believe the new digital roadmap of today - and in the future - incorporates feeds."
Forrester's analysis concluded that the composite organization achieves the following Relay benefits over a three-year period:
- Increased CLV from Relay onboarding experience: By engaging customers through fast and easy-to-use feeds
- Increased CLV from ongoing engagement via Relay: By keeping customers actively engaged through consistent, relevant content
- Increased CLV from reengagement via Relay: By introducing customers to new engagement channels
- Cost savings from reducing direct mail: By accelerating organizations' digital maturity with Relay
"Relay is a tremendously powerful platform. I think when you can enable it with the right data and create these one-to-one experiences, I haven't seen a more powerful platform to get complicated communications across to customers and keep them engaged," stated an executive from a financial services organization interviewed for the study.
About Relay Network
Relay is the innovator of SaaS business feeds that drive unmatched customer, member, and employee engagement with over 10 years of experience helping companies with more meaningful engagement. Through our dedicated, 1:1 engagement channel, the Relay Feed, we deepen relationships with customers while improving business outcomes. Our goal is to maximize customer lifetime value by catalyzing mutually beneficial engagements between our clients and their customers. Recognized by top industry analysts, Relay has served more than 100 industry-leading clients and 70 million end users across numerous verticals, including health insurance and financial services.
SOURCE: Relay Network