Invoca’s Call Marketing Automation Powers $2.5 Billion in Sales
July 30, 2014
SANTA BARBARA, Calif., July 30, 2014 /PRNewswire/ – Invoca, the leading provider of cloud-based inbound call marketing automation, today announced it has converted $2.5 billion in sales for its customers since the company was founded and $1.7 billion in just the last 12 months. The increasing demands of the mobile consumer combined with Invoca’s ongoing product innovation and dedication to customer success has supported the company’s revenue growth of more than 1200 percent over the past three years, in addition to its 82 percent gain in customers and 39 percent average deal size growth from H1 2013 to H1 2014. Invoca reports a 337 percent overall rise in inbound call volume through its platform since 2012, largely driven by mobile advertising and search. Calls to Invoca customers have increased by more than 100 percent year-over-year, for four consecutive years, from 2009 to 2013.
“Most marketers assume that it’s easier to interact with their customers digitally, so they’re investing in creating great mobile experiences for search, email, social, apps and the web,” said Jason Spievak, CEO of Invoca. “Our business trajectory shows that smartphones are more than small computers — people are actually using them to call and purchase from businesses tens of billions of times every year. Invoca’s technology is enabling marketers to realize the significant revenue opportunity this presents.”
The foundations of advertising and search are rapidly changing with mobile, driving innovation and growth in the inbound call market. BIA/Kelsey recently cited that mobile search alone is expected to drive more than 73 billion calls by 2018. According to Google, 70 percent of mobile searchers have already connected directly with businesses from the search engine page using click-to-call. This number will only increase as mobile search surges and local search queries on mobile outpace those on desktop in 2015.
Mobile advertising (including search, display and apps) now drives the majority of inbound calls to Invoca customers, increasing by 173 percent from 2012 to 2013.
Mobile search, in particular, accounts for a fast-growing segment of inbound calls to Invoca customers, making up 65 percent of all mobile ad-driven calls last year.
In 2013, the average call to Invoca customers from mobile search lasted 227 seconds, up from 90 seconds in 2009, which means call quality is increasing.
“Inbound calls produce some of the most valuable, high-intent business leads, but until recently it was incredibly difficult to connect online marketing campaigns to conversions from calls,” said Abid Chaudhry, Senior Analyst at BIA/Kelsey. “Invoca allows marketers to close this online-offline gap and truly maximize their marketing ROI.”
Invoca has expanded adoption among digital marketing technology companies, integrating with Salesforce.com, Kenshoo, Acquisio, Turn and others. Invoca has also seen particularly strong results among companies in verticals like travel, insurance and financial services, which rely on inbound calls to convert customers making “considered purchases.” In the travel segment, for instance, the average conversion rate for an inbound call to Invoca customers increased 22 percent from 2009 to 2013.
Underground Elephant, a marketing agency that serves Fortune 1000 clients, uses Invoca to drive more business from mobile. “Before Invoca, we primarily helped our clients to generate more leads online,” said Taryn Lomas, Chief Revenue Officer of Underground Elephant. “Working with Invoca has enabled us to expand our products and services, including adding an inbound call program, which is driving hundreds of thousands of calls per month. For example, expanding our product set to include mobile click-to-call has allowed us to realize a 3067% lift in inbound call volume over the course of a year.”
Invoca’s accelerated growth follows the expansion of its executive team earlier this year with the hiring of enterprise SaaS leaders from Eloqua, Responsys, Salesforce.com and Oracle. The company increased its employee count by 108 percent over the past year and recently passed the 100-employee mark.
Invoca is the industry-leader in inbound call marketing automation. The cloud-based platform delivers complete campaign management, clear attribution, practical analytics, and mobile optimization tools in one easy-to-use solution, while seamlessly integrating with the solutions marketers already use. Invoca helps businesses to get better-qualified, higher-converting customers and optimize spend across online, offline, and mobile marketing channels.
Proven revenue-generating partnerships with leading Fortune 1000 and Inc 500 brands make Invoca the industry-leading solution for enterprise inbound call marketing. Invoca was founded in 2008 by a team of technology executives who built their prior startup into a multi-hundred million-dollar public company. Invoca is backed by leading venture capital firms Accel Partners, Upfront Ventures andRincon Venture Partners. For more information, please visit www.invoca.com.