CleverTap customers saw a 561% ROI according to a study by Independent Research Firm

Mountain View, Calif, & Mumbai, India, November 9, 2023 – Customers of CleverTap,the all-in-one engagement platform, have seen a significant 561% return on investment (ROI), according to a Forrester Total Economic Impact™ (TEI) Study commissioned by CleverTap. The study investigates the potential ROI enterprises may realize by deploying CleverTap’s platform. It highlights how CleverTap has helped brands deliver personalized and precisely timed interactions across various digital channels, improving user engagement and retention rates. By analyzing real-time user behavior, CleverTap enabled brands with more informed decision-making, leading to higher conversion rates and a better understanding of campaign performance.

The study identified the following quantifiable benefits (over a three year period) realized by a composite organization, comprised of interviewees with experience deploying CleverTap’s platform:

• The composite organization experienced USD 8.1 million in benefits while incurring USD 1.2 million in costs. This resulted in a net present value (NPV) of USD 6.8 million and a significant ROI of 561%.
• Up to 30% improvement in customer retention. CleverTap’s ability to identify user trends and analyze retention rates helps brands anticipate churn and accordingly curate engagement campaigns. The reduced churn and improvement in user retention are worth USD 5.5 million to the composite organization.
• Up to 50% improvement in click-through rates and 35% improvement in conversion rates. CleverTap’s triggered campaigns ensure that messages are sent at optimal times, further increasing the likelihood of click-throughs and conversions. The increased click-through rates and conversion rates are worth USD 2.3 million to the composite organization.
• 8 FTE (full-time equivalent) hours saved daily when developing marketing campaigns. Using CleverTap, brands can create a unified cross-channel campaign and automatically adapt it to diverse regions or multilingual audiences with significant operational efficiency. The improvement in campaign efficiency is worth USD 113,000 to composite organization over three years.
• After investing in CleverTap, the composite organization is able to retire its homegrown point solutions, leading to a 20% cost saving which adds up to USD 238,000 over the course of the three-year analysis.

From a qualitative standpoint, the study also found that:

• Interviewees organizations that started using CleverTap’s AI-powered assistant, Scribe, which is a part of the Clever.AI engine, were able to automate the creation of marketing copies and optimize their communication and user engagement strategies. Interviewees pointed out that they wanted to increase their usage of Scribe in the coming years.
• A/B tests help evaluate different iterations of a brand’s marketing campaigns. This enables interviewees’ organizations to optimize their go-to-market strategies.
  With insights into customer sentiment, organizations are able to evaluate and improve particular areas of customer experience.
• By leveraging CleverTap’s solutions, the composite organization also experienced a significant boost in employee satisfaction. With technology taking over a lot of the mundane work, marketing teams are able to focus their energies on more strategic and impactful tasks.

Anand Jain, Co-founder and Chief Product Officer, CleverTap said, “At CleverTap, we’re committed to empower businesses with innovative MarTech solutions, boost engagement rates on their platforms and maximize their customers’ lifetime value. Brands require trusted MarTech partners who can support their marketing efforts and it’s very reassuring to learn that our existing clients have successfully been able to achieve their business goals while providing an enhanced experience to their customers. As we continue to work towards offering cutting-edge technology to our customers, we ultimately aim to put the “tech” back in MarTech.”
 

About CleverTap

CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.

The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.

CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.

Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, and Jakarta.

For more information, visit clevertap.com or follow us on:

LinkedIn: https://www.linkedin.com/company/clevertap/ 

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Forward-Looking Statements

Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service
contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:

SONY SHETTY

Director, Public Relations, CleverTap

+91 9820900036

sony@clevertap.com

IPSHITA BALU

Consultant, Archetype

+91 9590111798

ipshita.balu@archetype.co