Helping Brands Understand “Why” Consumers Make Purchasing Decisions Fuels Significant Revenue and Client Growth
RESTON, Va., May 22, 2019 (GLOBE NEWSWIRE) — In a business climate where direct brand relationships with consumers are increasingly vital, Resonate’s dynamic, always-on consumer intelligence marketing platform is experiencing unprecedented growth due to the wholly unique consumer behaviors, values and motivations it provides to companies.
Fueled largely by the need among brands to gain deeper consumer intelligence in the disrupted, direct-to-consumer (DTC) economy, Resonate has experienced 81% year-over-year revenue growth and a 122% year-over-year increase in EBITA. Resonate operates across more than 14 different vertical markets, including banking, automotive, retail, financial services and others. In particular, the company has seen massive growth within the CPG vertical, as these companies strive to gain an understanding of their consumers within the new direct brand economy and amid a rising tide of disruptive competitors.
Further, as a testament to the value being seen by current clients, Resonate also saw a three-fold increase in expansion bookings from existing client relationships over the past year. Overall, this growth has resulted in a 64% increase in Resonate’s annual recurring revenue (ARR) for its SaaS subscription platform, excluding business development deals.
Traditional and disruptor brands alike rely on Resonate’s more than 12,000 consumer attributes, representing more than 200 million U.S. adult consumers to help them understand why people buy from certain brands and how their values and motivations guide their choices.
“Resonate gives me a definitive view of the difference between actual and self-reported behavior and motivation,” said Jonathan Lee, Chief Strategy Officer, Grey New York. “Resonate is a fundamental tool for us — something my data strategy and planners work on every day.”
“Resonate gives us the ability to understand consumers better than our competition,” said Stuart Meyler, President, Beeby Clark + Meyler. “The platform is catching fast-moving trends, and getting those insights quickly is a competitive advantage.”
Resonate is a pioneer in Consumer Intelligence Marketing, delivering deep understanding, dynamic insights, cross-channel engagement and analysis in a single, simple-to-use SaaS platform. Resonate has deep consumer insights and contextually relevant data across more than 12,000 attributes, including values, motivations and other psychographics, describing more than 200 million U.S. consumers. Hundreds of companies have used Resonate to reveal and engage “The Human Element,” a 360-degree understanding of their target segments that extends beyond traditional demographics, psychographics and behavioral data to uncover why consumers choose, buy or support certain brands, products or causes. Empowered with unparalleled insights, leading brands, agencies and organizations use the R7 platform to identify, engage and analyze these audiences, driving growth and increasing customer lifetime value.
Headquartered in Reston, Virginia, Resonate is privately held and backed by Argentum Capital Partners, Revolution Growth, Greycroft Partners and iNovia Capital. For more information, please visit www.resonate.com.
Kyle Kuhnel for Resonate
As reported on GLOBE NEWSWIRE on May Resonate Achieves Unprecedented Growth by Delivering Deeper Consumer Insights Tailored for the Direct Brand Economy.