ForeSee Results Grows, Hires in 2010
The Ann Arbor customer satisfaction analytics firm ForeSee Results Thursday reported its ninth consecutive year of revenue growth of more thatn 25 percent -- including 64 percent in the past two years alone.
ForeSee Results also increased staff by 25 percent in 2010 and plans to hire at least 80 new people in 2011 in order to support ongoing local, international, and multichannel expansion.
Using the proven, scientific methodology of the American Customer Satisfaction Index since 2001, ForeSee Results helps public and private sector organizations increase satisfaction and impact business goals by measuring customers' experience, applying predictive analytics, and conducting usability analysis.
"There are two major reasons behind the rapid growth of ForeSee Results," said Claes Fornell, founder of the ACSI, professor at University of Michigan, and chairman of the ForeSee Results Board of Directors. "First, as more and more companies are concluding that it is very difficult to have financial success without highly satisfied customers, the demand for accurate and insightful customer satisfaction measurement is getting much stronger. Second, Foresee Results has developed a technology that delivers exceptionally valuable information in real time."
Added Barry Goldsmith, a ForeSee board member and general partner of Updata Partners, a where-based what: "Michigan gets a hard rap sometimes around the country because it has been so hard hit by the economy. ForeSee Results is proving every day that companies can absolutely succeed in Michigan through the tradition of American innovation, tried-and-true management and growth strategies, and a passionate workforce that really believes in what they are doing."
Another ForeSee board member, Noah Walley, managing director and chief of technology investing with Investor Growth Capital, added: "The top-line growth and profitability of this company is rare and continues to be very exciting to watch. What has consistently impressed me about ForeSee Results is how integral they are to their clients' operations, as evidenced by the very high percentage that renew or add additional services each year."
Customers also praised the company.
"We've been working with ForeSee Results since 2003," said Josh Feinstein, director of consumer products with the National Football League. "I wish they were our little secret because I think they help make us so successful, but the truth is that having a 'ForeSee Score' is just par for the course for most successful companies these days."
ForeSee said it tripled its revenue over the past four years, among the most difficult economic years in history in Michigan, and has been cash-flow positive every year since its 2001 founding.
As for hiring, ForeSee said it has added 150 staffers since 2007 and hired 21 new staff in January alone.
ForeSee now has more than 1,000 active private sector measurement implementations, up more than 25 percent from 2009. More than 100 new private sector clients were added in 2010, including companies like Eddie Bauer, ESPN, Kohl's, Rite Aid and Six Flags.
The company has 58 million completed customer surveys since 2001, 13 million in 2010 alone.
ForeSee also now offers more than 80 benchmarks that allow clients to compare performance with the average performance of their peers in a variety of industries, including retail, media and entertainment, government, financial services, healthcare, b-to-b, nonprofit, pharmaceuticals, consumer products, insurance, telecommunications, utilities, content, travel and hospitality, and more
The company has expanded its suite of offerings to include customer satisfaction measurement and analysis across all channels, including in-store customer satisfaction measurement and call-center customer satisfaction measurement, and added a Social Media Value Index, customer satisfaction measures on social Web sites and measures of social functionality on companies' own Web sites. ForeSee has also expanded its mobile capabilities, including measurement of mobile Web sites and mobile apps and a new ForeSee Results iPhone application.
"We satisfy our own customers because our staff is so passionate and we practice what we preach," added Freed. "I've never worked with such a talented and dedicated group, and nine years into this endeavor, I'm still very proud to come to the office every day and do such great work with a talented group of individuals working toward a common goal."
More at www.ForeSeeResults.com.
