Mindshare Technologies today announced that it has achieved the incredible milestone of 100 consecutive months of recurring revenue growth. The company’s impressive sales performance has been not only consistent, but aggressive: in May 2003, Mindshare registered revenues of approximately $3,600; in August 2011, the company recorded revenues of more than $1.6 million.
The company’s expertise has resulted in an extraordinary 93 percent client retention rate, despite a national recession, and includes prominent household names and a solid foundation for continuing demand for its services. Mindshare achieved 33 percent revenue growth in 2010 and is on pace for approximately 40 percent growth for 2011.
“From the beginning of our experience working with Mindshare, every member of the team treated us as a full partner,” said Chuck Sliker, senior vice president, Operations Services, Arby’s Restaurant Group, Inc. “They have tremendous knowledge of our industry, and have consistently invested the time to get to know us and our customers. Mindshare is as adamant about ensuring our success as we are.”
Mindshare’s automated technology and deep expertise provide customer feedback tailored to the situations of specific stores and customers, saving clients tens of thousands of hours each year, while increasing accuracy. Using custom, industry-specific text analytics, the company is able to achieve levels of specificity in three to five questions that competitors are unable to duplicate with surveys that take dozens of questions. For example, the company helped one of the world’s leading fast-food brands accurately link a pattern of concern among customers to a detail as small as the placement of pickles on its burgers and sandwiches.
Mindshare’s novel customer feedback approach drives performance improvements from all levels of the organization. The platform makes it easier for customers and employees to provide specific, actionable feedback via telephone, computer, mobile devices, social media or text messaging.
Mindshare clients include global leaders in 25 dynamic industries, ranging from informal, casual and fine dining restaurants to retail, financial services, travel, automotive, and healthcare. Currently, the company serves clients that operate in 106 countries, in 26 languages. Industry leaders publicly praise the company’s approach to employing actionable customer feedback programs that drive measurable increases in customer loyalty.
The company’s unconventional ascent was powered by the dedication of its employees and their focus on its success. Early in Mindshare’s development, employees worked at significantly reduced rates for extended periods of time. Some refinanced their homes, and a number of employees worked up to 10 months without pay and only verbal assurances of payment. As the company began to grow, beginning with a major account, Great Clips, Mindshare’s owners decided to retroactively compensate all of its employees with full salaries for their service in the company’s time of need.
“This growth milestone we are celebrating is a tribute to so many of the extraordinary clients and employees that stuck with us through our lean, rocky beginnings,” said John Sperry, co-founder and CEO of Mindshare Technologies. “We have worked diligently to develop and validate an entirely new approach to building customer-driven feedback systems that build trust between our clients and the people they serve.”
Chairman and President Richard Hanks added, “We are committed to keeping this performance streak going through continual innovation, and by collaborating closely with our clients to help them more effectively discover and meet the needs of their customers.”