Amplitude Customers Saw 217% Return on Investment According to Independent Research Study
30 August 2023 - 2:00AM
Business Wire
Businesses cite profit growth, improved
customer retention, and cost and time savings as a result of using
Amplitude
Amplitude, Inc. (Nasdaq: AMPL), a leading digital analytics
platform, today announced the results of the Total Economic Impact™
of Amplitude study conducted by Forrester Consulting. The study
found that a composite organization comprised of interviewees with
experience using Amplitude saw a 217% return on investment (ROI)
over a three-year period. Those customers also recouped their
investment in Amplitude through additional revenue in less than six
months.
Before moving to Amplitude, the businesses said they had no
clear view of how their customers were using their digital
products. The analytics tools they were using were disjointed,
creating low confidence in data quality and, ultimately, a lack of
understanding as to how product changes impacted revenue and
business growth. With Amplitude, however, interviewees said, “their
organizations’ product teams, data scientists, and engineers were
able to realize significant time savings”1 in various analytics and
experimentation activities. Amplitude also helped them identify new
customers and discover expansion opportunities with existing
accounts.
“With current market conditions, value creation and return on
investment are top of mind for every business leader. New
technology investments need to help customers drive top-line growth
through acquisition and retention of customers, or they need to
help manage costs on the bottom line,” said Nate Crook, chief
revenue officer at Amplitude. “Amplitude impacts all of these value
drivers for our customers and has quickly become a mission-critical
platform for businesses across the globe. Our digital analytics
platform helps organizations better understand customer behaviors
and improve their digital product experiences. We believe the TEI
study validates the importance of Amplitude in helping
organizations acquire and retain customers, creating seamless paths
to monetization, and driving growth.”
In the study, Forrester notes that companies who invest in
customer analytics technologies improve the customer experience
(CX) by identifying CX pain points, driving loyalty and retention,
and increasing customer lifetime value.
By adopting Amplitude’s Digital Analytics Platform, customers
realized important revenue and operational efficiency benefits:
- Incremental profit growth from user growth: Simplifying
onboarding and improving product adoption to help users find value
faster and accelerate growth.
- Incremental profit growth from better monetization of
existing customer base: Identifying which customer journeys
lead to revenue and optimizing the path to purchase.
- Revenue retention from preventing customer churn:
Driving engagement and activation of repeat purchases through
real-time personalization to improve retention rates and increase
customer lifetime value.
- Cost savings from tech stack consolidation:
Consolidating existing vendor spending and gaining a deeper view of
the customer lifecycle with Amplitude’s unified platform, which
includes Amplitude Analytics, Amplitude Experiment, and Amplitude
CDP,
- Time savings related to product development and
management: Answering questions about the customer journey
quickly for non-technical users and allowing them to run their own
experiment, saving analysts time to work on more complex
problems.
“If we want to offer a product that stands out from the
competition, we need immediate access to insights about how our
products perform and how customers use them,” said Paul Chung,
software engineer at Grindr. “Before we used Amplitude, a lot of
behavioral analysis had to be done in ad hoc reports by data
analysts and engineers. With Amplitude, we made 70 to 80 percent of
those requests self-serve. This was a game-changer for our team. It
freed up data analysts and data engineers to do more valuable work
and enabled our product team to move a lot faster.”
These findings build on Amplitude being named a Strong Performer
in the Forrester Wave™: Customer Analytics Technologies, Q2 2022,
and a Strong Performer in the Forrester Wave™: Digital Intelligence
Platforms, Q4 2022 last year.
Access the full study here. To learn more about Amplitude,
request a custom demo today.
1 The Total Economic Impact™ Of Amplitude, a July 2023
commissioned study conducted by Forrester Consulting on behalf of
Amplitude.
About Amplitude
Amplitude is a leading digital analytics platform that helps
companies unlock the power of their products. More than 2,300
customers, including Atlassian, Jersey Mike’s, NBCUniversal,
Shopify, and Under Armour, rely on Amplitude to gain self-service
visibility into the entire customer journey. Amplitude guides
companies every step of the way as they capture data they can
trust, uncover clear insights about customer behavior, and take
faster action. When teams understand how people are using their
products, they can deliver better product experiences that drive
growth. Amplitude is the best-in-class analytics solution for
product, data, and marketing teams, ranked #1 in multiple
categories in G2’s 2023 Summer Report. Learn how to optimize your
digital products and business at amplitude.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230829802721/en/
Analyst Relations Kayli Berlin kayli.berlin@amplitude.com
Communications Darah Easton press@amplitude.com
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