Drift®, the leader in Conversational Commerce for B2B, announced the findings of the 2021 Total Economic Impact™ (TEI) study showing that Drift enterprise customers realized a 670 percent return on investment (ROI). The study, commissioned by Drift and conducted by Forrester Consulting, examines the potential financial impact generated by customers implementing Drift’s Revenue Acceleration Platform.
Prior to using Drift, the study found that traditional lead qualification methods resulted in slow and inefficient sales processes.This means missed opportunities for companies to turn leads into buyers and to accelerate revenue.
In contrast, after investing in Drift, enterprise sales and marketing teams could qualify and respond to prospects in real-time. Doing so improved the quantity and quality of leads, while significantly reducing response times to customer inquiries. Customers realized significant improvements in pipeline without needing additional spend to increase the size of sales teams.
Drift’s Revenue Acceleration Platform offers a single solution for B2B go-to-market teams–aligning chat, email, video and voice efforts across sales and marketing. Buyers are able to engage with companies 24/7, on their terms, and businesses are empowered to respond in kind. According to the TEI study, Drift customers can achieve:
- Up to a 50 percent increase in sales representative efficiency, as chatbots pass on only the most qualified buyers to sales
- Up to a 100 percent increase in conversations and pipeline conversion rates
- Up to a 17.5 percent improvement in annual recurring revenue (ARR) in targeted accounts as a result of increased cross-sell and upsell
As for qualitative benefits, Drift customers see improved customer experience, brand equity and sales representative satisfaction. Customers surveyed in the study said that “[Drift] does not change our process. It recognizes gaps in process and then works to fill them in, in the same way that any human would” and “[during the pandemic], people were flocking to the web and looking for answers. Drift was actually the answer to bridging the gap between us and the prospect, or the future customers.”
“We made a bet the lines between B2C and B2B purchasing would blur, now accelerated by the pandemic and the mass shift to remote work,” said David Cancel, co-founder and CEO of Drift. “Prospective customers are online at all hours and have all the power in the buying process, creating a new urgency to meet them where they are. Our customers know the importance of having the right conversations at the right time, and have seen how getting this right results in more revenue. This study is a celebration of our customers’ success and showcases Drift’s ability to transform how businesses buy from businesses.”