Outsell announced today that 2020 full year total gross revenue retention of existing customers improved to 84 percent. The improvement in retention is a testament to the accretive value dealers see in Outsell.
“With the onset of the global pandemic, Outsell was able to rapidly pivot and face the challenge with persistence, resilience, and optimism,” said Outsell founder and CEO Mike Wethington. “Outsell had an excellent year of growth whereas many digital marketing companies were down approximately 20 percent across the board.”
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In addition to record revenue retention, Outsell grew total revenue by two percent in 2020, a monumental feat when American consumers spent more than half a trillion less last year than in 2019, affecting businesses in all sectors, especially automotive.
In May, Outsell launched new packages to stimulate automotive dealers’ sales and service revenue at reduced contract costs. These packages gave dealers an edge to capture business as markets reopened and consumers recovered from the impacts of COVID-19. Outsell also hosted a webinar with more than five hundred registrants with AutoSuccess on how auto retailers could survive and thrive beyond the pandemic.
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Other Outsell highlights from 2020 include:
- Added three new offerings to its flagship platform that helps auto dealers leverage artificial intelligence (AI) to target their marketing messages. Direct Mail, VIN Service Engagement, and Equity add-ons help dealers communicate dynamic, personalized content across channels and all profit centers, aggregated and delivered to consumers based on individual needs.
- Won the 2020 WebAward Automobile Standard of Excellence in Marketing Automation.
- Published a years-long study with RXA that found digital retailing plus lifecycle marketing leads to a 76 percent increase in influenced sales for first-time dealership buyers.
- Participated in a discussion at the virtual Kain Friends & Family Event with dealer group partner Germain Automotive Group on Building Customer Loyalty: Take Advantage of Group Brand.
“We are extremely proud of what we accomplished in 2020,” concluded Wethington. “We are in a strong financial position and had an excellent year between customer retention and revenue. Experts are predicting 2021 to remain challenging. However, Outsell has proven we are up to the task. Our first of its kind Dealer Group OmniHub launched in February and we are excited to continue delivering innovations for our partners and customers.”
Outsell is looking toward 2021 with optimism and a focus on continued growth.
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