SEATTLE--(BUSINESS WIRE)--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:
- Analytics and insights: In addition to the analytics provided by the Branded Call service, Forrester found that Hiya Connect delivers additional insights that enable customers to make informed decisions and take action to improve the performance of their business.
- Global reach: Forrester examined the impact of Hiya’s global network, which provides customers with the ability to reach a global customer base through its network of direct integrations with device manufacturers, wireless carriers, and apps.
- The value of voice: Forrester also explained the importance of the voice channel when it comes to a transaction that can result in hundreds of thousands of dollars in a sale, as well as an expedient voice exchange to confirm an appointment, which results in a completed translation, reduces wasted inventory, increases productivity, and improves customer satisfaction.
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.”
- Download the study: To learn more, download the Forrester Total Economic Impact (TEI) of Hiya Connect here.
- Attend the webinar: On January 25, join a live panel discussion on the ROI of implementing Hiya Connect with our guest Amy Harrison, Senior TEI Consultant, Forrester, Tyler Orrell, Senior Director of Contact Center Operations at QuinStreet, and Julianne Maila, Director of Product Marketing at Hiya. Sign up for the webinar here.
- Estimate your ROI: Customers can also estimate their ROI by using the Hiya Connect ROI Estimator, available later this month.
Hiya is trusted by global businesses, carriers, and consumers to provide secure, engaging connections and stop unwanted calls. Built on the world’s leading Voice Performance Platform, Hiya connects businesses with their customers, helps carriers secure their networks, and protects people from spam and fraud calls. Hiya’s SaaS applications, Hiya Connect and Hiya Protect, serve more than 200 million users, power services like AT&T Call Protect and Samsung Smart Call, and deliver voice performance insights to businesses across the globe. Learn more at www.hiya.com.