This year, specifically this past quarter, has been tremendous for us; and our growth is being propelled by our Vitrue SRM Platform, which has seen an explosive increase in licensing from the first of the year until today.
Atlanta, GA (Vocus) October 14, 2010
Vitrue, the leading provider of social media publishing software, announced today growth statistics for end of Q3’10 that includes record-breaking revenues, client expansion and internal staff growth. Vitrue executives cite its social media software, the Vitrue SRM Platform, as the key reason for growth with the product garnering mainstream adoption with hundreds of companies nationwide. The Vitrue SRM Platform is a web-based, self-serve interface that provides brands and agencies an instant, turnkey solution to message, manage and engage their social communications on Facebook, Twitter and other social networks.
The company added more than 75 new clients in Q3 alone, including marketers Harley Davidson, Mentos, Dick’s Sporting Goods, Crocs, Eddie Bauer, Maybelline, Denver Broncos, University of Texas Athletic Department, and Purina, to name a few. Vitrue executives project to add more than 100 new accounts by year’s end. Companies that have already been utilizing the Vitrue SRM Platform include McDonald's, P&G brands, Ford, Chanel, JCPenney and AT&T, as well as agencies such as Edelman, Grey, Y&R, Jack Morton and BBDO. Vitrue reports the largest client and revenue growth across the CPG, retail and restaurant verticals.
“This year, specifically this past quarter, has been tremendous for us; and our growth is being propelled by our Vitrue SRM Platform, which has seen an explosive increase in licensing from the first of the year until today,” said Reggie Bradford, CEO of Vitrue. “What our growth clearly shows is that the industry is moving towards a licensing model for social media tools. As the industry continues to mature we believe the SaaS model will become the standard application for social marketers.”
The Vitrue SRM Platform is a self-serve, no-contract-needed software product that offers three simple pricing plans, including an entry-level package for those just beginning to grow fans. Getting customers onboard and trained takes under 30 minutes. Company executives believe that these attributes are helping to fuel the accelerated adoption across marketers of all sizes.
From Q2 to Q3 this year, Vitrue has tripled its Vitrue SRM Platform accounts while also adding more than 50 agencies and resellers that access the Vitrue API, further positioning the company for future growth. Vitrue has doubled its work force in 2010, while remaining cash flow positive. Vitrue will continue to invest in market leading software which is built for the requirements of the world’s leading brands. Vitrue expects to again double its workforce into the 2011 as efforts continue to invest in research and development as well as and geographic expansion.
Additionally, the company’s Social Page Evaluator product, which measures Facebook ROI, has been used to evaluate more than 45,000 pages from 180 countries. “Almost 70% of Facebook’s audience is outside the United States and the opportunity for growth across the pond is tremendous, something we have known for a while but was reinforced to us with the international interest in our Vitrue Social Page Evaluator. The potential for our social software platform throughout Europe is enormous, and we have been strategically navigating and exploring that for some time now,” states Bradford.
Key Stats for the Vitrue SRM Platform
- The Platform is managing more than 680 Facebook Pages and Twitter accounts
- The Platform services more than 276 million fans/followers, representing a 248% increase in the growth from Q2
- Moderating over 5 million comments and 700,000 posts
- Has created over 24,000 wall posts
Vitrue is the leading provider of social media publishing software focused on providing solutions for optimal social media communications across the vast social web. Anchored by its industry-leading enterprise software, the Vitrue Social Relationship Management (SRM) Platform, the Company delivers a turn-key, comprehensive solution to manage, measure and maximize communications across Facebook, Twitter and other social environments. The Vitrue SRM Platform’s four main components—Vitrue Tabs, Vitrue Publisher, Vitrue Apps and Vitrue Mobile—deliver powerful creative, publishing, applications, measurement and mobile tools in a web-based interface. The Vitrue SRM is currently being used by global brands such as McDonald’s, Best Buy, Kellogg Company, AMC Theatres, Project (RED) and 3M, to name a few.
Headquartered in Atlanta with offices in New York, Chicago, Cincinnati and San Francisco, Vitrue is a Facebook “Preferred Developer Consultant” and has received numerous industry accolades including the Red Herring Global 100 and OnMedia 100. For more information, visit http://vitrue.com.