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Compete, Inc. Announces Record Growth
Growth Fueled by Need for Businesses to Effectively Market to Consumers; Significant Customer Wins
Boston, MA - February 27, 2006- Compete, Inc. today announced that the company achieved record growth in 2005. Compete attributes this growth to an increase in demand for consumer intelligence services and targeting products that enable marketers to target their products and deepen customer relationships.
"Compete completed its fifth year of operations in 2005," said Don McLagan, president, chairman and CEO of Compete. "We believe that our substantial growth over our first five years makes us one of the fastest growing online consumer market research companies in the country. With the addition of VoiceboxTM to our existing products and services, we feel strongly that we are helping to transform the way that brands and consumers communicate."
Significant milestones for the year included:
Expanding revenues: Revenues have grown 200 percent since 2001, as Compete has experienced significant growth through its automotive, financial services and wireless practices. Compete now works with every major U.S. wireless carrier and works with major financial institutions, including two of the largest banks in the US. Compete also added eight automobile manufacturers to its customer list in 2005, including Hyundai Motor America. To meet the expanding needs of its customers, Compete grew its staff to 60 employees in 2005. The launch of VoiceboxTM: Voicebox is a communications and loyalty platform designed to help marketers extend and deepen customer relationships. Voicebox combines desktop marketing with sophisticated customer profiling, segmentation and targeting to deliver permission-based and behaviorally-targeted marketing interactions. The launch of Spark!: Spark!, a research series, provides brands with the insight and information they need to better target consumers and enhance overall marketing effectiveness. Last year's issues included: Is the future of travel loyalty in desktop marketing?; Paying More for Less: Conversion Efficiency and the Effect of Incentive Spending; Study: financial 'searchers' are compelling targets for retail banks. Compete analysts also regularly provided their expertise to major publications and key conferences including Forrester Research's Automotive Summit, Net.Finance 2005, CTIA and the EyeforTravel Distribution Summit. Customer Day 2005: In June, Compete hosted its second annual Customer Day, a marketing roundtable which included leaders from Carlson Hotels Worldwide, DaimlerChrysler, E-LOAN, Kia Motor Americas, Lycos Inc., Nextel, Racepoint Group, Sprint, Subaru of America, Inc., Teva Neuroscience, T-Mobile USA, Upromise, Verizon Wireless, Virgin Mobile USA, W2 Group, Yahoo! and Yahoo! Search Marketing. These visionary executives discussed how the Internet is enabling marketers to better see and reach consumers, create marketing conversations and deepen consumer relationships."Marketing must change to reach increasingly elusive consumers," said McLagan. "Our company's growth reflects the new efforts of innovative marketers to listen to and communicate with their customers."
About Compete, Inc.
Compete, Inc. extends online market research to transform the way consumers and brands communicate. By combining permission marketing, predictive analytics and the industry's largest consumer behavior database, Compete helps marketers identify and reach their target consumers. Compete delivers conversant marketing solutions that increase profitability and customer loyalty and result in measurable and effective marketing programs. Compete delivers these solutions to leading brands such as Carlson Hotels Worldwide, DaimlerChrysler, Hyundai Motor America, Toyota Financial Services and Upromise®, among others. Compete is headquartered in Boston, Massachusetts, with offices throughout the US. For more information, please visit http://www.compete.com.