CHICAGO, April 11, 2023 (GLOBE NEWSWIRE) -- Sprout Social, an industry-leading provider of cloud-based social media management software, today announced the release of a Total Economic Impact™ study conducted by Forrester Consulting that reveals how Sprout Social enabled customers to achieve a return on investment (ROI) of 233% and a net present value (NPV) of $1.3 million over three years with a payback period of less than six months.
“Today’s organizations are expected to have a responsive social media presence that reflects and anticipates the needs of their customers, and their ability to meet this expectation has a lasting impact on business growth and revenue,” said Ryan Barretto, President of Sprout Social. “For us, this study reinforces what our customers are already telling us—we deliver a solution that gives brands the ability to remain agile and scale their social strategies for stronger customer connections and access to vital business intelligence. We are excited to continue innovating our platform and bring meaningful investments to our customers.”
The commissioned study conducted by Forrester Consulting on behalf of Sprout Social found that by eliminating manual work and providing quicker access to key business and consumer insights, Sprout Social enabled customers to boost productivity and focus on building impactful social strategies. The study also found that Sprout Social’s customers significantly reduced costs by consolidating their tech stacks and lowering their reliance on paid advertising through organic and employee-driven social campaigns.
With tightening budgets and increasing consumer demand, customers leveraging Sprout Social are able to deliver more to their customers and their organizations while spending less time and money. In addition to the 233% ROI and $1.3 million NPV, Forrester’s study revealed that a composite organization comprised of Sprout Social customers realized the following benefits over the past three years:
- Drove social media productivity and efficiencies of $973K
- Improved organic reach by 85% on social media through Sprout Social’s Employee Advocacy solution, saving $233K in paid media spend
- Ensured faster response times and created efficiencies of 92% for customer service specialists
- Achieved a productivity lift of 55% for their social media team
- Eliminated manual aggregating of data to prepare monthly reports by 75%
- Saved $473K in legacy tech costs
These findings reflect the benefits that brands have long seen by utilizing Sprout’s platform:
“We are excited to streamline social efficiency and improve collaboration across our team by partnering with Sprout," said a Sprout Social customer. "In researching social platforms, we found that Sprout outperformed others by offering a comprehensive suite of solutions within one platform. The usability of the platform, collaboration capabilities and sophisticated reporting ensure that our teams are able to maximize and grow our investment in social and share our successes."
Read the entire Total Economic Impact™ study of Sprout Social here and learn more about Sprout Social at sproutsocial.com.
About Sprout Social
Sprout Social is a global leader in social media management and analytics software. Sprout’s unified platform puts powerful social data into the hands of more than 34,000 brands so they can make strategic decisions that drive business growth and innovation. With a full suite of social media management solutions, Sprout offers comprehensive publishing and engagement functionality, customer care, connected workflows and AI-powered business intelligence. Sprout’s award-winning software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com.
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Contact:
Media:
Kaitlyn Gronek
Email: pr@sproutsocial.com
Phone: (773) 904-9674
Investors:
Jason Rechel
Twitter: @SproutSocialIR
Email: jason.rechel@sproutsocial.com
Phone: (312) 528-9166
