Defying Soft Automotive Market, Outsell Closes 2019 With 16 Percent Direct Revenue Increase
MINNEAPOLIS, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Outsell, which offers the only AI-driven marketing automation platform for the automotive industry, announced today that it grew its direct revenue by 16 percent, despite the softening automotive sales market. The company’s overall revenue growth for the year was 7 percent. By comparison, auto industry sales were down 0.2 percent in 2019.
Outsell founder and CEO Mike Wethington said he attributes the company’s revenue growth to the fact that dealers must be more careful and strategic with marketing dollars when market conditions are less than ideal. “Outsell’s solution helps dealers ensure they are spending marketing dollars wisely,” said Wethington. “Identifying the best prospects and automating marketing across the consumer lifecycle is a great combination in a competitive market where margins are tight. Dealers are looking for every advantage and Outsell provides that.” A recent comprehensive, multi-year study conducted by Outsell, RXA, and Experian showed that AI-driven consumer lifecycle marketing leads to:
-- 23% increase in repeat sales -- 31% increase in service visits -- 49% increase in dealer loyalty rate
Outsell highlights from 2019 include:
-- A major update to its flagship platform. Outsell 5.2 includes new features that make it not only the best solution for managing and optimizing cross-channel marketing campaigns, but also greatly enhance auto marketers’ ability to create and share engaging content especially in social media channels. -- Launched Mileage Estimator, a predictive model that helps dealers more accurately target consumers in their customer journey. -- Won the 2019 WebAward Automobile Standard of Excellence. -- Hired former Star Tribune Finance VP Jon Ochetti as Outsell’s new CFO.
“Experts are predicting 2020 auto sales to continue to be challenging. In challenging times, the best dealers look for leading edge solutions that increase their effectiveness and efficiency. Outsell is ready and excited to serve them with our innovative solutions that deliver the clearest attribution of sales and profit results in the industry,” said Wethington.
About Outsell Outsell offers the only AI-driven marketing automation platform for the automotive industry, creating a personalized customer experience that drives increased profits across sales and service. Our proprietary technology harnesses massive amounts of data creating accurate and powerful consumer profiles that engage your customers and prospects exactly where they are in their individual lifecycles. That’s why Outsell is the trusted platform for over 1,500 dealers representing all major automotive brands. To learn more, visit https://www.outsell.com/ or follow us at @Outsell.
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