The Total Economic Impact™ of Relay on Financial Services Organizations
Conducted by Forrester Consulting
Relay has commissioned Forrester Consulting to conduct a Total Economic Impact™️ study of Relay. They have found that a composite organization investing in Relay sees a 600% ROI over three years and one interviewed financial services organization saw eight-digit incremental revenue numbers annually attributed to both new account funding and debit card activation.
Head of Credit Cards, a financial services institutionRelay 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.
“Both new account funding and debit card activation generated eight-digit incremental revenue numbers annually for the organization, and make it committed to using Relay and expanding its use cases to other areas of the business.”Customer Spotlight on an interviewed financial services organization, The Total Economic Impact™ of Relay.
Highlights from the study
The purpose of this study is to help you evaluate the potential financial benefit of Relay’s customer engagement solution. To examine its potential return on investment (ROI), Forrester Consulting interviewed Relay clients, aggregated their experiences and combined the results into a composite organization in this study.
While each organization’s individual outcome will differ based on its use case(s) for Relay, its commitment to relying on Relay for customer engagement, and its Relay investment, surveyed financial services organizations using Relay saw the following results:
- 99% lift in new checking account funding
- 88% increase in debit card activation rates
- 5% to 10% increase in spend per active account
- 800 basis point uptick in digital adoption
The composite organization for the study also saw:
- 33% increase in customer lifetime value
- 20% decrease in direct mail by year 3