ANN ARBOR, Mich., Oct. 1, 2013 /PRNewswire/ -- Amplifinity, creator of the Advocacy Management Platform (AMP), announced today it has doubled total revenue, tripled recurring revenue and grown its staff by 25 percent in the last year. Included in Amplifinity's revenue growth are new software subscriptions sold to six Fortune 500 or Fortune Global 500 companies in the last year.
Amplifinity's achievement comes at an inflection point as companies begin to realize that the path to purchase has changed irrevocably and their brand is being defined not primarily by their own messaging, but by what consumers say and write about them.
"Because brand advocacy has become the cornerstone of the new path to purchase, brands are starting to realize they have to have strategies and systems to drive and manage advocacy," said Richard Beedon, CEO of Amplifinity. "Our growth is being fueled by our ability to help our clients turn their customers, employees and 3rd party influencers into very powerful sales and marketing channels. These "social" sales and marketing channels are driving brand awareness, generating new leads and acquiring new customers – at scale. Our case studies are very compelling and everything we do is measurable."
The AMP is a comprehensive tool for creating, running and measuring a brand advocacy program, which enables customers, employees and influencers to refer new customers, endorse products and amplify company messaging. Because the AMP integrates with existing business processes and internal systems, it provides a 'closed-loop' network that allows companies/brands to finally track, manage and measure the success of brand advocacy.
Over the past year, Amplifinity has aggressively recruited new developers and account managers, increasing the total number of staff by 25 percent.
"We are good at turning a company's social relationships into high-performing corporate assets. We facilitate and enable brand advocacy across the enterprise and not just on social media sites. We are building a team of skilled developers, account managers and sales and marketing strategists that focus on the unique needs of the large enterprise. Advocacy happens everywhere and not just on social media."
Brand advocacy management is one the fastest growing areas of interest for marketing, sales and advertising industries. The AMP Platform has empowered companies to create alternate brand advocacy channels that drive acquisition and revenue. As Nielsen reported in 2012, customers who advocate are the most trusted source of product and service recommendations.
Jonathan Murray, managing director at Early Stage Partners, said, "Amplifinity's growth confirms that AMP drives customer acquisition for enterprises that are searching for growth in a slow economy. This intuitive, easy-to-implement brand advocacy solution is a platform that generates high quality leads and customers, particularly for businesses that are looking to build a long-term relationship with repeat or recurring purchasers. Amplifinity's clients are experiencing faster results at lower cost than traditional marketing alternatives."
Amplifinity has consolidated the most effective brand advocacy methods into a powerful platform that allows companies to activate, nurture and grow their advocate base. Headquartered in Ann Arbor, MI, the company is backed by leading investors such as Early Stage Partners and RSVP Capital. Amplifinity is a proud member of the Word of Mouth Marketing Association (WOMMA). Information about Amplifinity can be found at www.amplifinity.com.