Filed under: #mktgcloud, Datarati, Marketing Automation, Revenue Performance Management (RPM) | Tags: Datarati, Marketo
Leader in Revenue Performance Management Gains Momentum with Major Product Release, Key Management Additions and New Partnerships
San Mateo, CA – July 26, 2011 – Marketo, the fastest-growing provider of Revenue Performance Management solutions, today announced record results in Q2 2011. The company added more than 170 customers in the quarter and grew revenue 140 percent year-over-year. It continued to build momentum with large enterprises, securing several Fortune 500 companies as new customers this quarter. Marketo also logged a record quarter for its Revenue Cycle Analytics product introduced last fall, growing far faster than the company’s overall growth rate.
“This was a banner quarter for Marketo across all aspects of the business. We’re continuing to grow aggressively, both in terms of year-on-year revenue and overall customer acquisition. In fact, we added more new customers in June than in any previous month in our history,” said Phil Fernandez, president and CEO of Marketo. “Underscoring our dramatic growth, we also launched significant new products, added new senior management and opened our European headquarters. These achievements validate Marketo’s unique ability to transform how companies accelerate revenue worldwide.”
Key highlights from the quarter include:
Continued Customer Momentum: In the second quarter of 2011, Marketo signed more than 170 customers large and small, including Enterasys, ExactTarget, Eventbrite and InsideView. Customers using Marketo report increased sales effectiveness and lead flow, streamlined marketing automationinitiatives, and improved productivity – all impacting marketing ROI and accelerating revenue growth throughout their organizations.
Release of Marketo NEXT: In May, Marketo announced a sweeping new product release, Marketo NEXT, designed to accelerate customers’ revenue growth, usually by 40 percent. The release helps companies deliver marketing programs that are more agile, more social, more intelligent and more connected than ever before. As part of the launch effort, Marketo also surveyed 250 customers toquantify the global impact of its Revenue Performance Management solutions. The global study of its customers revealed that RPM improves lead-to-opportunity conversion by an average of 46 percent, improves opportunity-to-win ratio by 17 percent, increases average contract value by 12 percent and reduces customer acquisition costs by 15 percent.
Marketo Partnership with ExactTarget: Last month, Marketo announced a strategic partnership with ExactTarget, a leading provider of on-demand email marketing solutions, to integrate Marketo’s Revenue Performance Management solution with ExactTarget’s Interactive Marketing HubTM. Developed as the first partner application for the Interactive Marketing Hub, this partnership enables users to access Marketo’s full lead management functionality directly from the Interactive Marketing Hub, allowing marketers to plan, power, monitor and track Marketo RPM campaigns alongside ExactTarget-powered email, mobile, social media and web campaigns.
Global Expansion: To support its swiftly growing international customer base, Marketo appointed Fergus Gloster, the former senior vice president of EMEA sales and a founding director of salesforce.com’s European operations, as Marketo’s managing director of EMEA in April. The company also announced the opening of its European headquarters in Dublin, Ireland and showed immediate results, signing several new customers during the quarter, including eSpatial and Antivia, and adding top-tier talent in technical support, sales, marketing and operations.
Additionally, Marketo signed several new deals in Australia through partner Datarati, including Macquarie Telecom, Navitas and Flight Centre.