Thryv Reports Usage Up 260% as Small Businesses Adopt Cloud Technology
October 12 2021 - 6:30AM
Thryv Holdings, Inc. (NASDAQ:THRY), the provider of Thryv®
software, the leading end-to-end customer experience platform built
for growing small businesses, reports that it has seen a dramatic
and sustained acceleration in how small businesses are adopting and
engaging with its technology. In fact, small business usage of
various in-app features has grown as much as +260% throughout 2021.
Due to COVID-19, many businesses were forced to quickly adopt
technology and cloud-based tools, particularly with the need for
contactless payments and communication. According to a Verizon /
Morning Consult study, 63% of small business decision makers now
use digital tools and technology to enhance customer experiences
(up from 53% in 2020), and 30% have implemented new technology to
compensate for the current worker shortage. Thryv’s year-to-date
results illustrate specifically how small businesses have continued
to rely on these tools.
“Now that these businesses have engaged with cloud-based
technology for nearly a year, they’re finding that the ease of use,
convenience and ability to meet consumer demands is a necessity to
continue to compete as a modern business moving forward,” said Ryan
Cantor, Thryv’s Chief Product Officer. “Once they have adopted
these tools, there’s no going back. It has helped them win, keep
and grow their customers.
“In fact, we’ve seen use of functionality, such as SMS text
reminders and social media management grow +138% and +261%,
respectively, year-to-date.”
Thryv measures adoption and engagement, and reports that users
are spending 28% more time in the platform YTD. Thryv is reporting
these additional key indicators showing year-to-date growth:
- Appointment scheduling use has increased +74%
- Total contacts entered into the customer relationship
management (CRM) tool is up +36%
- Automated email marketing activity has increased +56%
- Contactless document storage and sharing is up +40%
- Messages sent by the business to the customer is up +24%, while
messages from the consumer to the business has grown +49%
“This increase in customer-to-business messaging illustrates
that not only do businesses want to use these tools, but their
customers are even more eager to adopt them,” said Grant Freeman,
Thryv’s Chief Customer Officer. “Just like business owners,
consumers want safe, contactless ways to interact. They, too, want
to find ways to simplify the process while saving time.
“These businesses are seeing the benefits of providing easy and
convenient customer experiences.”
Online invoicing and payments have also seen a dramatic uptick
in adoption, according to Thryv. Accounts using invoices increased
+54%, year to date, and the number of invoices from those accounts
has grown +95%. More businesses are sending electronic invoices,
and those that do, continue to send more.
Thryv has seen 21% more accounts with connected payment gateways
YTD, including ThryvPay. Total online payment volume has increased
150% YTD.
ThryvPay, which launched in late October 2020, quickly became
the favored payment processor within Thryv. In a recent quarter,
active merchants jumped +15%, with an increase in processing volume
up +28%, quarter over quarter, illustrating that the existing
merchants are charging more through ThryvPay.
“To top that, the total number of payment transactions that
we’ve seen at Thryv has increased +20%, quarter over quarter,”
Cantor said. “It’s clear that small business user adoption of
technology is not a fad. It’s clearly transformed how these
businesses interact with consumers, and it’s here to stay.”
For more information, please visit Thryv.com.
About Thryv Holdings, Inc.
Thryv Holdings (NASDAQ:THRY) is a global software and marketing
services company that empowers small- to medium-sized businesses
(SMBs), franchises, and agencies to grow and modernize their
operations so they can compete and win in today’s economy. Over
40,000 businesses use our award-winning SaaS platform, Thryv®, to
manage their end-to-end customer experience tools, which have
helped over 40,000 businesses across the U.S. and overseas grow
their bottom line. Thryv also manages digital and print presence
for over 300,000 businesses, connecting these SMBs to local
consumers via proprietary local search portals and print
directories. For more information about Thryv Holdings, Inc., visit
thryv.com.
Media Contact:
Paige Blankenship
Thryv, Inc.
214.392.9609
paige.blankenship@thryv.com
Investor Contact:
Cameron Lessard
Thryv, Inc.
214.773.7022
cameron.lessard@thryv.com
KJ Christopher
Thryv, Inc.
972.453.7068
KJ.Christopher@thryv.com
###
Paige Blankenship
Thryv, Inc.
2143929609
paige.blankenship@thryv.com
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