PERQ - Founding Team of the Year
Company: PERQ, Indianapolis, IN
Entry Submitted By: mWebb Communications
Company Description: PERQ (www.perq.com), a marketing technology provider, boosts website conversions by creating and delivering interactive experiences to the right consumers at the right time. Founded in 2001, PERQ solutions today are used by more than 1,000 businesses across the United States. PERQ’s brands have been named to the Inc. “500 Fastest Growing Companies in America” list on three separate occasions.
Nomination Category: Entrepreneur Categories
Nomination Sub Category: Founding Team of the Year - Business Products Industries
Nomination Title: PERQ’S Founding Team: Andy Medley, CEO and Co-Founder; Scott Hill, Executive Chairman and Co-Founder; Jacob Bracken, EVP Finance; Paul Champion, EVP Operations; Stephanie Ragozzino, EVP Product; Curt Knapp, EVP Technology; Jenny Vance, EVP Sales
Tell the story about what this nominated founding team has achieved since January 1 2017 (up to 650 words). Describe the impact the team has had on your organization during that time. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Retailers like Amazon have forever changed the way we shop online. However, when it comes to making high consideration decisions online – like buying a car, a bed, a sofa or leasing a rental unit, for instance – “Amazon-like” expectations rarely get met. Instead, car dealers, furniture retailers and multifamily leasing company websites either act as a brochure, giving consumers no where to go and no way to proceed forward, or scream out at website visitors trying to capture information so they can bombard them with calls.
When the PERQ leadership team started examining this challenge, they discovered that no one was offering a solution for businesses and retailers who not only had to compete with their customers’ expectations of an Amazon-like experience, but with behemoth e-commerce sites and technology solutions threatening their very existence. These businesses often lacked the nimbleness and/or resources to rapidly and completely re-architect their technology to meet consumer demands.
Guided by its mission of creating meaningful engagement between consumers and brands, PERQ’s founding team of marketing visionaries and technologists perfected their platform - which had already garnered great results for auto dealers in 2016 - into an advanced solution that made sense for multiple verticals and launched PERQ’s Online Guided Selling Solution into multiple verticals in 2017.
This new platform, driven by PERQ’s deep wells of consumer behavior data, offered an environment where these businesses and retailers welcomed shoppers back to their sites and showed them that, like Amazon, their websites were ‘paying attention to them’ – remembering their names, the products they were interested in, showing personalized options each and every time they returned. The platform allowed businesses to easily – and quickly – improve the online conversation with consumers through dynamic, interactive experiences… all with just one line of (very genius) code and as little as a 30 days to implement.
The results were stunning: By end of 2017, the platform was in use by 600+businesses with over 1.5Mconsumers engaged with PERQ’s technology in 2017, and PERQ’s booked ARR (Annual Recurring Revenue) grew 220% YOY.
These accomplishments could only be achieved when PERQ’s mission became part of the everyday fabric of the entire team. PERQ won awards for its innovative workplace initiatives, which include the “Game of PERQ,” a mission-focused “game” that enables every team member to know “the why” of their contribution, how their role helps PERQ win, and ensuring that every member is creating long-term momentum. (Please see attachment of Indianapolis Star’s Top Workplace survey for comments about executive team from the employees themselves.) In addition, the executive team developed a workplace curriculum (also attached) to prepare high potential employees for future leadership opportunities while simultaneously increasing their impact at PERQ.
As CEO Andy Medley said, “PERQ’s culture consists of smart, talented, like-minded individuals who want to accomplish something great.A group of people who enjoy the daily challenges that come with growth and the understanding that the solution usually requires rolling up your sleeves and getting your hands dirty.”
2017 saw the company win multiple awards for their technology and team success, including Product of the Year in the Big Business Awards and Silver Best in Biz Award for Small/Medium Business Service of the Year. The product’s success is also reflected in an over 78% increase in new clients and tripling of revenues YOY. Most importantly, customer results where significant including generating on average 30% more leads, 15% higher close rate and 5% increase in gross profit from PERQ leads. Even as 2017 was rounding the corner, the PERQ team was actively engaged in launching this innovative solution into more verticals for 2018.
They incorporated new levels of data and machine learning into the product, which not only make it even easier for clients to continually meet and exceed their customers and expectations, but ensures that they survive and thrive in rapidly evolving digital landscape.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated founding team since the beginning of 2017.
- Grew annual recurring revenues from $1M to $3M
- Grew the team from 89 to 111
- Added two new verticals (home furnishing and multifamily)
- Expanded globally with new customers in Canada in two verticals (auto retailing and home furnishing)
- Won multiple product awards, including a Gold Stevie Award for ‘New Product of the Year: Lead Generation Software’ and an Indiana Best Places to Work award
- Delivered more tangible amenities for the workforce: massage days, yoga over lunch, cereal bar
- Donated and volunteered for some great causes, including Indiana’s Techpoint for Youth, Meals on Wheels, Big Brothers, Big Sisters of America
- Had over 1.5 million consumers engage with PERQ technology in 2017