Study conducted by an independent consulting firm explains how enterprises using Hiya Connect to brand outbound calls increase answer rates, productivity, and revenue
Hiya, the leading call performance management cloud, today announced the findings of The Total Economic Impact of Hiya Connect, a commissioned study conducted by Forrester Consulting on behalf of Hiya.
The study by Forrester revealed that Hiya Connect delivers a 677% return on investment (ROI) and a $14.1 million net present value (NPV) to enterprises over a three-year period. Enterprises use Hiya Connect to brand outbound calls and provide analytics and insights to drive better performance of the voice channel. According to Forrester, increased answer rates provided by Hiya Connect are valued at over $15.4 million, with additional contact center productivity worth over $730,000.
“We’re making as many as 800,000 outbound calls per day and we’re increasing [answer rates] by 6% – that’s huge. For our business, when you hear that type of number you know that’s just a lift that’s incredible,” stated a contact center business analyst for a financial services company interviewed for the study.
To better understand the benefits, costs, and risks associated with investing in Hiya Connect, Forrester interviewed four Hiya Connect customers and developed a composite organization based on the aggregate. The study found that after their investment, customers saw that Hiya Connect helped increase answer rates by branding outbound calls, which initiated more live conversations and increased the productivity of the call center. Ultimately, Hiya Connect had a positive impact on revenue and reaffirmed the power of the voice channel.
"What this study demonstrates is there is real opportunity for enterprises to use Hiya Connect to tap into the value of the voice channel to increase revenue and reach more customers," said Kush Parikh, president at Hiya. "For both Hiya and our customers, it's great to see independent data that reinforces the value Hiya Connect provides."
The study also found additional benefits provided by Hiya Connect, including:
In the study, the head of marketing for a vehicle repair business explained that Hiya Connect’s Branded Call increased their retention rate by 1.5%: “Let’s say we have you on schedule and you don’t show up – it is lost time and your retention rate of that appointment drops. By using Hiya, we improved our retention rate by 1.5 points, which is millions and millions of dollars for us.”
January 5, 2022