Today Cordial is releasing the results of an independent Total Economic ImpactTM (TEI) study, which found that investing in the cross-channel marketing and data management platform transformed an composite organization's approach to marketing with a total benefit of $8.79 million over three years and payback in less than six months.
Cordial commissioned Forrester Consulting to conduct a TEI study based on a composite organization of clients to examine the potential return on investment for enterprise businesses moving to Cordial. The study found Cordial not only eased the pain of managing multiple solutions but also enabled marketers to be more productive and effective in orchestrating messaging campaigns for high levels of customer engagement. The TEI study's quantitative findings include:
- Increased revenue from email, SMS and mobile app marketing valued at $5 million.
- Reduced costs from retiring prior solutions valued at $1.7 million.
- Improved efficiencies from automating customer service valued at $980,400.
- Cost savings preparing data for decision-making valued at $626,400.
- Reduced time producing campaigns valued at $365,800.
- Cost savings creating customer segments valued at $101,600.
Additionally, the Forrester study determined that organizations became more customer insights-driven, had higher confidence in their data, saw greater data flexibility, increased agility in launching new campaigns, and received a higher level of support from Cordial's client experience team.
"Anyone can say their solution drives revenue growth and cuts costs. But as organizations feel the strain of continued economic uncertainty, results are everything," said Jeremy Swift, CEO and co-founder of Cordial. "We believe the findings of this TEI study are testaments to Cordial's winning combination of a best-in-class platform and exceptional people. By forming a true partnership with brands, such as Orveon Global, we solve their unique pain points to make every moment of their marketing more valuable to the bottom line."
Orveon, a collective of iconic brands that include bareMinerals, Buxom and Laura Mercier, chose Cordial to modernize its legacy systems and accelerate brand growth. Since joining Cordial, Orveon upleveled its personalized marketing strategies and customer engagement, reducing marketing costs by 15% and driving an increase in revenue from behavior-based automations.
"Implementing Cordial has streamlined our marketing operations and provided a single source of truth for customer data, improving how we unify data, segment customers and execute across global markets," said Salima Popatia, Chief Digital Officer at Orveon. "Cordial's platform provides us with the agility and speed to drive customer-first campaigns globally, creating better customer engagement and fueling our growth. The business value of Cordial within our organization will only grow as our partnership continues."
For more information about the Total Economic ImpactTM study, download the complete study here. Visit cordial.com to learn more about the cross-channel marketing leader.
