SOURCE: Communispace

Communispace

August 19, 2010 10:06 ET

Communispace Achieves 29% YOY Revenue Growth and Expands Product Portfolio

An Increase in Customer Communities and Solutions Drives Business Success

BOSTON, MA--(Marketwire - August 19, 2010) -  Today, Communispace announced a hat trick of growth -- consistent increase in revenue, a growing customer base and additional innovative product offerings -- during an economic climate where staying flat is considered a positive. Since its inception in 1999, Communispace built more than 350 consumer-engaging communities, increased its own employee base to 290 and experienced a 29% revenue growth year-over-year. Communispace also boasts a 94% year-to-date retention rate and a high renewal rate. These achievements helped Communispace gain acknowledgment in the recent Honomichl Report of Top 50 U.S. Marketing Research Firms by ranking it first among the fastest growth Market Research firms in the U.S. and 26 out of 50 overall.

According to Communispace's recent research paper, Leaving Our Comfort Zone: 21st Century Market Research, advances in social media, the empowerment of everyday consumers, and the need for more actionable insights fuel a mandate for market research to do more, faster. Communispace broke the traditional market research barrier and approached consumers where they already exist -- online and in a social environment. Listening to consumers is an imperative business tactic and Communispace's clients, along with consumers, have reaped the benefits of the community insights. Within the past six months alone, Communispace grew its customer base in various industries by adding Pinnacle foods, Gatorade, Wendy's and ZYNC from American Express™ to their expanding roster.

"Although our continued growth is a huge source of pride for us, we are more gratified by the extraordinary client relationships we are building," said Diane Hessan, CEO of Communispace. "We are doing strategic work with many of the most admired brands in the world, and we never take their trust in us for granted."

Four New Visualization Tools
Recognizing the world is becoming more visually inspired, Communispace has expanded its offerings to include creative and innovative ways to bring communities to life. Clients can now receive visual feedback from community members in the following four new formats:

  • Digital Collaging -- Allows members to build their own collages using images and text narratives to bring their experiences to life.
  • Image and Asynchronous Usability Testing (a.k.a. Heatmaps) -- Records and analyzes members' reactions to static websites, wireframe images, complex print ads or other static visual stimuli. Heatmaps are created that quantify and depict member reactions, where they click, and identify where members focus their energy.
  • Image Annotation / Whiteboarding -- Consumers can write their reactions and impressions on a whiteboard that looks like the marketing materials clients want opinions on, such as web pages, images and marketing collateral.
  • Mind Mapping -- Produces visual free-association or a brainstorm via individual or group of members to identify associations with specific brands, needs, activities, or people.

Growing Product Portfolio
Communispace is expanding its innovative solution portfolio for its clients by adding new Shopper Insight Communities and RelevantID digital fingerprinting technology, via a new partnership with Imperium.

The new Shopper Insight Communities were developed around Communispace's proven best practices to provide the "why and how" about shoppers that will help grow business. Shopper insights provide marketers with the power to make better investment decisions, design more effective in-store marketing, and use the store environment to build equity and drive sales.

Additionally, by partnering with Imperium, Communispace can now utilize RelevantView's digital fingerprinting technology, RelevantID. RelevantID allows Communispace to digitally fingerprint respondents as yet another quality check in the recruitment and screening process.

Website Re-Launch
Communispace also re-launched their website to reflect the evolution of the company and provide the most effective experience for the users. By conducting research and listening to the needs of the users, the site is now more dynamic, interactive, easier to navigate and offers many materials at visitors' fingertips.

About Communispace:
The world's most admired brands turn to Communispace Corporation, the leader in generating game-changing insights via private online customer communities. Founded in 1999, the company has created more than 350 customer communities for industry leaders such as Kraft, Hewlett-Packard, Charles Schwab, Hallmark, Unilever, GlaxoSmithKline and Hilton Hotels Corporation. Headquartered in Watertown, Massachusetts, the company has offices in Atlanta, Chicago, London, New York, San Francisco, as well as London, Italy and Sydney, Australia. For more information, please visit: www.communispace.com.

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