ForeSee Results Achieves 32% 2009 Revenue Growth

ANN ARBOR, Mich. (January 21, 2010) - ForeSee Results today announced that it finished 2009 with a 32% revenue increase over 2008 and a 92% revenue increase since 2007, effectively doubling revenues in two years.

“We had a great year in 2009,” said ForeSee Results Chief Financial Officer Jeff Blackman. “Our highly predictable revenue gives us great confidence that we will see even stronger growth in 2010.”

“ForeSee Results is positioned incredibly well for growth in 2010 and beyond for many reasons, not the least of which is its smart diversification.” said Barry Goldsmith, a ForeSee Results board member and General Partner of Updata Partners. “ForeSee Results is working in dozens of different industries like retail, government, financial services, media, consumer products, and others, and no one client accounts for a significant amount of its revenue. Coming off of a recession, this kind of broad business base is critical to success.”

Using the proven, scientific methodology of the American Customer Satisfaction Index (ACSI) since 2001, ForeSee Results quantifies how various website changes will make browsers more or less likely to purchase, return to the site, recommend it, register, and other behaviors related to share of wallet and loyalty. The ACSI methodology, created at the University of Michigan, provides a road map for site improvement that allows companies to make educated decisions with or without extensive resources.

"ForeSee Results is succeeding by practicing what it preaches and satisfying its own customers," said ForeSee Results board member Noah Walley, managing director of Investor Growth Capital US. "Vendors with such loyal, enthusiastic clients are rare, but ForeSee Results has an outstanding client retention rate because the strength of its products and outstanding customer services makes for very satisfied customers.”

In 2009, ForeSee Results launched numerous new products and services that enable customer experience professionals to maximize the success of various online initiatives. One of many new launches in 2009 was CS SessionReplay, a revolutionary new tool that replays website sessions exactly as site visitors experience them, including mouse clicks and movements, page scrolling, form entry, and all interactivity with a website. This product provides clients an additional dimension with which to analyze their website visitors’ online experience.

“We have a lot of exciting changes lined up in 2010 that will revolutionize the way our clients understand the impact of voice of customer data in a multichannel, multidimensional way,” said ForeSee Results Senior Product Director Drew Bennett. “Our clients’ appetite for new and improved functionality is almost limitless, and it is always an exciting challenge to meet the needs and expectations of our clients in order to help them meet and exceed their own customers’ expectations.”

In addition to helping clients understand satisfaction with their own site visitors, in 2009 ForeSee Results had more than 70 industry and subcategory benchmarks and released more than 20 reports on online customer satisfaction and its implications in industries like e-retail, online financial services, e-government, and others.

“We have consistently viewed ForeSee Results as providing one of the most accurate reads into the online retail industry,” said Mark Mahaney, Managing Director of Internet Research with Citi Investment Research, which includes ForeSee Results data in regular industry briefings.

"ForeSee Results helps companies succeed because they go beyond mere customer satisfaction,” said Jim Sterne, industry expert and founder of the eMetrics Marketing Optimization Summit. “They provide actionable voice of customer metrics that show you where to prioritize and thus invest in making improvements. Having the numbers is good. Knowing which are the most important is worth its weight in gold."

Other signs of ForeSee Results’ continuing financial strength include:

* ForeSee Results has continued smart but aggressive hiring practices through the recession, growing staff 24% in 2009, including strengthening and expanding the management team significantly.
* With more than 800 active measures (up 29% from 2008), ForeSee Results signed hundreds of new clients in 2009, including companies like Adidas, British Airways, Kraft, Merck, Nestle, Nikon, Nutrisystem, New York and Company, Oral B, and Sears Canada. ForeSee Results works with companies of every size, from Fortune 500 firms to smaller companies with powerful online presences.
* ForeSee Results has collected 43 million completed customer surveys since 2001, more than 12 million in 2009 alone, and is currently averaging more than one million completed surveys per month. This depth and breadth of data provides benchmarking capabilities that are unparalleled in the voice-of-customer industry.
* Aggressive revenue growth is predicted for 2010.
* Positive cash flow since 2005, and the company has hit a new revenue record every quarter.

"As more of our consulting clients take an increasingly strategic approach towards digital measurement it is always a relief to find ForeSee Results already in place," said Eric T. Peterson, Founder and Senior Partner at Web Analytics Demystified, the world's most widely recognized web analytics consultancy. "An investment in ForeSee tells us that the business is serious about their digital measurement efforts and, more importantly, serious about listening to their customers."

“We satisfy our own customers because our staff is so passionate about what we do,” said Larry Freed, President and Chief Executive Officer of ForeSee Results. “I’ve never worked with such a talented and dedicated group of in-house research and usability analysts, operations experts, sales and marketing masters, product development authorities, technology wizards, financial professionals, industry experts, human resources specialists, and administrative support, not to mention our top-notch and ever-growing management team. I’m very proud to come to the office every day and do such great work with a talented group of individuals working toward a common goal.”

“When ForeSee Results was founded in 2001, I knew there was amazing potential to apply the methodology of the ACSI specifically to online marketing initiatives,” said Claes Fornell, founder of the ACSI, professor at University of Michigan, and chairman of the ForeSee Results Board of Directors. “I’m so impressed by the way the company has grown and been managed since we founded it. I couldn’t ask for a better representation of my work out in the business community.”

Source: ForeSee Results