Amplifinity Doubles Total Revenue, Triples Recurring Revenue, Expands Team
ANN ARBOR (WWJ) -- The social media marketing agency Amplifinity Tuesday announced it had doubled revenue, tripled recurring revenue and boosted employment by 25 percent in the past year.
Included in Amplifinity's revenue growth are new software subscriptions sold to six Fortune 500 or Fortune Global 500 companies in the last year.
Amplifinity's achievement comes at an inflection point as companies begin to realize that the path to purchase has changed irrevocably and their brand is being defined not primarily by their own messaging, but by what consumers say and write about them.
"Because brand advocacy has become the cornerstone of the new path to purchase, brands are starting to realize they have to have strategies and systems to drive and manage advocacy," said Richard Beedon, CEO of Amplifinity. "Our growth is being fueled by our ability to help our clients turn their customers, employees and third party influencers into very powerful sales and marketing channels. These 'social' sales and marketing channels are driving brand awareness, generating new leads and acquiring new customers -- at scale. Our case studies are very compelling and everything we do is measurable."
The Amplifinity Advocacy Management Platform is a comprehensive tool for creating, running and measuring a brand advocacy program, which enables customers, employees and influencers to refer new customers, endorse products and amplify company messaging.
Because the AMP integrates with existing business processes and internal systems, it provides a closed-loop network that allows companies and brands to finally track, manage and measure the success of brand advocacy.
Over the past year, Amplifinity has aggressively recruited new developers and account managers, increasing the total number of staff by 25 percent.
Brand advocacy management is one the fastest growing areas of interest for marketing, sales and advertising industries. The AMP Platform has empowered companies to create alternate brand advocacy channels that drive acquisition and revenue. As Nielsen reported in 2012, customers who advocate are the most trusted source of product and service recommendations.
Amplifinity's financial backers include Cleveland-based Early Stage Partners and Ann Arbor-based RSVP Capital.
"Amplifinity's growth confirms that AMP drives customer acquisition for enterprises that are searching for growth in a slow economy," said Early Stage Partners managing director Jonathan Murray. "This intuitive, easy-to-implement brand advocacy solution is a platform that generates high quality leads and customers, particularly for businesses that are looking to build a long-term relationship with repeat or recurring purchasers. Amplifinity's clients are experiencing faster results at lower cost than traditional marketing alternatives."
More at www.amplifinity.com.
