ForeSee Results Announces 2010 Year-End Results: Technology, Growth, and Jobs in Michigan, Driven by Innovation

ANN ARBOR, Mich., Feb. 10, 2011 /PRNewswire/ -- ForeSee Results, the Michigan-based global leader in technology-driven customer satisfaction analytics, today announced a phenomenal close to 2010 that proves that, contrary to popular belief, business is alive and thriving in Michigan and in the United States at large. 2010 was ForeSee Results' ninth consecutive year of revenue growth of more than 25%, including a 64% increase in the last two years alone, during a very difficult economic period. ForeSee Results also increased staff by 25% in 2010 and plans to hire at least 80 new people in 2011 in order to support ongoing local, international, and multichannel expansion.

Using the proven, scientific methodology of the American Customer Satisfaction Index (ACSI) since 2001, ForeSee Results helps public and private-sector organizations increase satisfaction and impact business goals by measuring customers' experience, applying best-in-class predictive analytics, and conducting expert usability analysis. ForeSee Results works with companies across industries.

"There are two major reasons behind the rapid growth of ForeSee Results," said Claes Fornell, founder of the ACSI, professor at University of Michigan, and chairman of the ForeSee Results Board of Directors. "First, as more and more companies are concluding that it is very difficult to have financial success without highly satisfied customers, the demand for accurate and insightful customer satisfaction measurement is getting much stronger.  Second, Foresee Results has developed a technology that delivers exceptionally valuable information in real time."

"Michigan gets a hard rap sometimes around the country because it has been so hard hit by the economy," said Barry Goldsmith, a ForeSee Results board member and General Partner of Updata Partners. "ForeSee Results is proving every day that companies can absolutely succeed in Michigan through the tradition of American innovation, tried-and-true management and growth strategies, and a passionate workforce that really believes in what they are doing."

"The top-line growth and profitability of this company is rare and continues to be very exciting to watch," added Noah Walley, Managing Director and Head of Technology Investing with Investor Growth Capital and a ForeSee Results board member.  "What has consistently impressed me about ForeSee Results is how integral they are to their clients' operations, as evidenced by the very high percentage that renew or add additional services each year."

"We've been working with ForeSee Results since 2003," said Josh Feinstein, Director of Consumer Products with the National Football League. "I wish they were our little secret because I think they help make us so successful, but the truth is that having a 'ForeSee Score' is just par for the course for most successful companies these days."

2010 highlights include significant advancements in, the following areas, all of which are explained in more detail in the following release:

• Revenue growth
• Staff growth
• Industry dominance
• Product development and innovation
• International expansion
• Industry thought leadership

Revenue Growth:

• Growth every quarter since ForeSee Results was founded in 2001
• Growth of 25% or more every single year (nine years in a row)
• Tripled revenue over the last four years, among most difficult economic years in recent history for the nation and the state of Michigan
• Cash-flow positive every year
• "2010 was a great year for us financially; it was the ninth year in a row of double-digit revenue growth largely in a fairly difficult economic decade for the region and the country," said Jeff Blackman, ForeSee Results' CFO. "We still have so much growth and expansion ahead of us, and 2011 is going to be an exciting year."

Staff Growth:

• Staff increase every year since 2001
• 150 new positions since 2007 alone
• 80 new hires planned for 2011; 21 new hires in January 2011 alone

Industry Dominance

• 1000+ active private-sector measurement implementations (up more than 25% from 2009)
• GOV
• More than 100 new private-sector clients added in 2010, including companies like Eddie Bauer, ESPN, Kohl's, Rite Aid, Six Flags. A more expansive list of ForeSee Results clients is available on the website
• Active engagements with more than one-third of the Fortune 100 along with hundreds of smaller companies from across the country and around the world
• 58 million completed customer surveys collected since 2001
• 13 million completed customer surveys in 2010 alone
• 80+ benchmarks that allow clients to compare performance with the average performance of their peers in a variety of industries, including retail, media and entertainment, government, financial services, healthcare, b-to-b, nonprofit, pharmaceuticals, consumer products, insurance, telecommunications, utilities, content, travel and hospitality, and more

Product Development/Innovation

• Expanded core suite of offerings to include customer satisfaction measurement and analysis across all channels, including in-store customer satisfaction measurement and call-center customer satisfaction measurement
• Expanded social media measurement, including Social Media Value Index, customer satisfaction measures on social websites and measures of social functionality on companies' own websites
• Expanded mobile capabilities, including measurement of mobile websites and mobile apps and a new ForeSee Results iPhone application
• Expanded usability services
• "In a cross-channel world, it's critical to understand how customers' experience with a company in one place affects their loyalty, brand affinity, and intent to purchase in another place," said Larry Freed, President and CEO of ForeSee Results. "We're helping many of our clients measure the customer experience in stores, in call centers, on websites, and even with interactions on mobile phones or social media. The result informs resource allocation to initiatives that will have the greatest return on investment."

International Expansion

• First UK office opened in London, on Trafalgar Square
• Working with top British companies like British Airways, Dixon's, Curry's, and Homebase, among others
• Existing offices in Ann Arbor, Vancouver, and Toronto
• Customer satisfaction measures in 32 languages and more than 50 countries around the world

Industry Thought Leadership

• 30+ free annual reports on online customer satisfaction and its implications in industries like retail, financial services, media and entertainment, government, healthcare, social media, and mobile marketing, among others
• ForeSee Results research is regularly covered in top national news, business, and trade media outlets, including more than 2000 appearances in print, internet, broadcast and radio news outlets in 2010
• Participation in more than 50 events and speaking opportunities in 2010, including national tradeshows, webinars, regional events, and seminars

"We satisfy our own customers because our staff is so passionate and we practice what we preach," added Freed. "I've never worked with such a talented and dedicated group, and nine years into this endeavor, I'm still 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."

About ForeSee Results

As the leader in customer satisfaction measurement, ForeSee Results captures and analyzes voice of customer data to help organizations increase loyalty, recommendations and marketing value. Using a patented, scientific methodology developed at the University of Michigan, ForeSee Results identifies improvements across all channels and touch points that drive customer satisfaction. With over 58 million survey responses collected to date and benchmarks across dozens of industries, ForeSee Results offers unparalleled expertise in customer satisfaction measurement and management around the globe.

ForeSee Results can be found online at www.ForeSeeResults.com.

SOURCE ForeSee Results