February 01, 2012
Medallia Announces Record-Breaking 2011
Medallia Builds Its Largest Sales Pipeline Fueled by Strong Lineup of New Feedback Products for Social Media, B2B, Mobile, and Contact Center
PALO ALTO, CA, February 1, 2012 — Medallia, the global leader in SaaS Customer Experience Management (CEM) solutions, today announced record results for 2011. Full-year revenue grew 43% year-over-year. New customers included Activision Publishing, Chico’s FAS Inc., Extended Stay Hotels, NCR Corporation, Select Comfort, Sony Europe, Telstra, Toyota Financial Services, and many other companies.
“C-suite interest in the customer experience is skyrocketing, driven by the explosion in social media,” said Borge Hald, CEO and co-founder of Medallia. “Executives understand that there is nowhere to hide from delivering bad customer experiences. They’re increasingly viewing CEM as a strategic necessity that helps them understand where in their organizations they’re creating customers by delivering great experiences, and where they’re destroying customers by delivering bad experiences. They use CEM to fix the underlying problems and drive success.”
- Medallia was named a Leader in Forrester Research Inc.’s The Forrester WaveTM: EFM Satisfaction and Loyalty Solutions. According to Forrester, “Medallia stood out with its internally developed social feedback and text analytics offerings, clear and compelling vision, and best-in-show usability and client satisfaction scores.”
- Medallia Text Analytics received an Innovation Award from TMC Labs.
- Medallia Contact Center was named Product of the Year by Customer Interaction Solutions magazine.
- Medallia was a CODiE Award finalist for Best Relationship Management Solution
- Two Medallia customers were honored by 1to1 Magazine as Customer Champions.
Introduction of New Social, Mobile, B2B, and Contact Center Products
Medallia introduced many new products in 2011, becoming the only CEM platform in the industry integrated with social feedback, mobile, and analytics. New products included:
- Social Feedback for Hospitality. Integrates social media feedback (feedback customers provide on social media and review sites) with solicited feedback (feedback a company collects from its customers through its own surveys) to provide a more complete view of the customer experience. The product also empowers frontline teams to respond to social media feedback. Since its introduction in November, close to half of Medallia’s major hospitality customers have adopted the Social CEM solution.
A business travel services provider uses Medallia to aggregate data feeds from 25 regions and sends out seven different questionnaires in 15 languages. The system supports more than 3000 internal users. The company now identifies 4500 at-risk customers per year.
- Key Account. The first CEM Software solution specifically designed for B2B use cases. It rolls up organizational hierarchies into easy-to-understand views of key accounts and allows B2Bs to hear from every key account throughout the year instead of just a few times a year.
A global IT and communications company with more than 200 data centers and 1,000 global accounts in 20+ countries unified the entire company on the Medallia platform. The company deployed more than 100,000 survey invitations and closed the loop with 2,500 corporate customers within the first five months.
- Medallia Mobile Feedback. Makes it easier than ever for customers to provide “in the moment” feedback. Consumers don’t need to launch any apps to use the solution. One survey works across multiple survey channels and mobile platforms, including iPhone, Android, and BlackBerry.
The Medallia platform works for programs ranging from the very simple to the highly complex. Some of the most sophisticated feedback programs support tens of thousands of active users and thousands of simultaneous users. The system achieves median load times of less than 600 milliseconds and 99.999 percent up time for data collection. More than one billion survey pages have been served on Medallia in 40 languages and more than 100 countries.
Services Loved by Customers
In a recent customer relationship survey, customers gave a Net Promoter Score (NPS) of 68 to Medallia’s dedicated service teams. “To put this in context, the average industry NPS score is below 20,” said Hald. “We are honored to be recognized by our customers and achieve ratings on par with iconic brands such as Apple (NPS = 72), Amazon (NPS = 70), Google (NPS = 53), and Southwest (NPS = 59).”
To support its growth, Medallia grew its employee base by 30 percent, primarily in engineering, services, and sales. Medallia opened its European headquarters in London, United Kingdom. In addition, Medallia opened a new development office in Buenos Aires, Argentina.