2015 YTD New Subscription Bookings per Salesperson grew 52%, Average Sales Price increased 26% and Renewal Rates increased by 19% compared to the same period in 2014
Critical Mention, the company pioneering the entry of the real-time TV and Radio medium into business intelligence and big data applications, with thousands of public relations and marketing clients subscribing to the Critical Mention software as a service (SaaS) platform and more than a dozen platform as a service (PaaS) API partnerships adding live TV into business applications, is pleased to announce year-to-date direct sales and renewal performance metrics.
January through April 2015 marked the first period of sales following a strategic product development effort that included the launch of a completely new technology stack, the integration of new content sets, and the launch of a robust analytics module.
Top line performance metrics:
- New subscription bookings exceeded projections by more than 23%
- New subscription bookings exceeded the same period in 2014 by 152%
- Average sales price grew 26%
- New clients exceeded the same period in 2014 by 121%
- Renewal rates exceeded the same period in 2014 by 19%
The results validate Critical Mention’s strategic product direction and investments. With the Company’s highly defensible position in media monitoring, including hundreds of data centers processing close to 40 hours of live TV and radio every 60 second in 9 countries, the decision to expand the content sets available in the platform and the inclusion of analytics has positioned Critical Mention as the only media intelligence and analytics platform combining the world’s most comprehensive realtime TV intelligence platform with the full Twitter firehose and online news and blogs.
The increases in Critical Mention’s new subscription bookings are attributable to a higher than anticipated percentage of new clients including multiple content sets and analytics in their subscription, higher attachment rates across existing clients, and the expansion into new client categories where online news, blogs and social media are primary. The Company attributes the increase in Renewal Rates to the superior user experience and overall performance of the Critical Mention platform with Q1 2015 representing the first renewal cycle for clients on the new technology stack.
With 56% of new clients including online news, blogs and/or Twitter in their Critical Mention subscription, the Company has consolidated budgets previously spent on standalone Social and Online news monitoring & analytics services, opened up opportunities with existing clients and expanded addressable markets in the small and midsize business (SMB) sector.