SAN FRANCISCO, Sept. 24, 2014 /PRNewswire/ -- ON24, the global leader in webinar-based marketing solutions that drive demand generation and customer engagement, has announced unprecedented market traction over the first half of 2014, especially with its industry-leading solution for the business user, ON24 Webcast Elite. The company exceeded its financial goals, added a record number of new enterprise and SMB customers around the globe and expanded its portfolio with valuable new services.
"Many of the world's most highly regarded brands have adopted ON24's Webcast Elite, including SAP, NAVEX Global and Ernst & Young," stated Sharat Sharan, co-founder, president and CEO, ON24. "We look forward to continued momentum through 2014 and beyond as our customers continue to see the impact of webinars across the marketing funnel."
The ON24 Network, powered by ON24 Webcast Elite, is the world's largest and fastest growing webinar network. The network reaches over 8.3 million business users who watch an average of 732 hours of ON24 webinars each hour. A new person registers for an ON24 webinar every 1.8 seconds. At its current pace, ON24 will deliver more than 33,000 live webinars during 2014.
The specifics of ON24's success include:
Strong Financials Webcast Elite is the fastest growing product in ON24 history. The product saw 95% growth during the first half of 2014. Nearly 250 new contracts were signed for the product during this period adding to a total of more than 600 Elite contracts to date. Webcast Elite event volume grew over 125% over the same time period.
In addition, the company continues to grow renewal rates for Webcast Elite, with the annual contract value per account increasing on year-over-year basis.
Industry Leading Product Innovation ON24 recently launched the Webcast Elite Marketing Edition. This new solution uniquely combines ease-of-use with powerful features, enabling marketing professionals to enhance their webinar promotion and lead qualification with a new webcast portal, CRM/marketing automation integration, and expanded webinar analytics.
Marketing Integration ON24's Webcast Elite integration service enhances ROI of webinars by facilitating pass-through of key metrics from ON24 webinars to marketing automation and CRM platforms, including Eloqua, Salesforce, Marketo, HubSpot, ExactTarget, Pardot and Silverpop. The integration allows marketing and sales teams to automate and optimize lead generation and nurturing programs from initial prospect contact through the entire sales process.
Global Market Leadership In July 2014, ON24 received a 2014 Global Market Leadership Award from Frost & Sullivan in the category of web events. "ON24 continued its reign as the perennial market share leader in the global webcasting and virtual events market with a dominant 27.8 percent share of revenues in 2013," according to the Frost & Sullivan report. ON24 also received a Global Market Leadership Award in 2009, 2010 and 2012.
Small & Medium Business Momentum ON24 gained significant traction in the Small & Medium Business (SMB) market segment, signing a growing number of new SMB customers. Those companies are attracted to ON24's Webcast Elite product, for its ease of use, convenience, interactivity and cost-effectiveness.
About ON24, Inc. ON24 is the global leader in webinar-based marketing solutions that drive demand generation and customer engagement. Its patented cloud-based platform features an interactive and immersive user interface and industry-leading webinar analytics for events, campaigns and benchmarking. Providing one-click access from any device, ON24's award-winning solutions are integrated with leading CRM and marketing automation platforms, enabling marketers to optimize demand generation, enhance lead qualification and accelerate sales pipeline opportunities.
Additional applications for the ON24 product portfolio include virtual training, talent development and town hall meetings. More than 1,000 enterprises of all sizes rely on ON24, including IBM, CA Technologies, Merck, JPMorgan Chase, Deloitte, Credit Suisse, Ernst & Young and SAP. The company is headquartered in San Francisco, with offices throughout the world. For more information, visit http://www.on24.com.