Outsell Reports Strong Revenue Growth in 2021, Is Positioned for Continued Velocity in 2022
The company’s momentum underscores the value its platform brings to customers
A.I.-driven customer engagement platform Outsell today announced full-year financial results for 2021. The company completed a strong year of performance, growing revenue 16% from 2020.
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“Outsell’s growth during 2021 is a direct reflection of the value our customers have found in us and the omnichannel marketing we power,” said Mike Wethington, founder and CEO of Outsell. “Particularly amid the ongoing supply chain challenges faced by the industry, Outsell’s continued momentum underscores the essential role our company plays by connecting automotive dealerships with their customers personally, continually and automatically.”
Additional 2021 financial highlights from the company include:
- All-time company record in annual revenue retention
- 40% revenue growth year-over-year in the company’s direct-to-dealer segment
- All-time company record in EBITDA (earnings before interest, taxes, depreciation and amortization)
The results follow a series of company accomplishments in 2021, including:
- Growing customer retention to industry best-in-class status of over 90%
- Increasing sales booking momentum through enhanced sales skillsets
- Implementing a new content management system enabling customers to engage consumers with an even higher level of message personalization
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Continuing into 2022, the company has identified five primary focus areas:
- Continued revenue growth across all business areas including OEM, dealer stores and groups
- Technology enhancements such as automation and platform configurability, driving additional revenue growth and profitability
- Content library optimizations, offering customers expanded options for reaching consumers with dynamic, A.I.-powered messaging
- Enhanced support for dealership groups through Dealer Group OmniHub™, which helps reduce missed sales opportunities by un-siloing a group’s databases to match car shoppers with vehicle offerings groupwide
- Expanded development opportunities to help associates grow personally and professionally through new program offerings
“With 2022 underway, Outsell is well-positioned for growth,” Wethington said. “Already, we are on pace to set a new company record in bookings by the end of the first quarter. We are greatly looking forward to continuing our momentum from 2021 and helping our customers drive their businesses forward with the power of A.I.-driven customer engagement.”
