California-based marketing software provider Marketo has announced a 60% lift in its revenue year on year for Q2 2014.
Total earnings from the quarter reached $36 million as a flock of new clients saw value in the company’s campaign management and personalised messaging solutions.
Increases were also evident in the firm’s subscription dollar retention rate, which rose 105% compared to readings in Q2 2013, while deferred revenue shot up 74% to hit $53.2 million.
Despite evidence of widespread growth, Marketo has tipped its Q3 revenue to come in between $36.5 – 37.5 million, indicating a maximum quarter-on-quarter rise of just $1.5 million.
YoY improvement
Marketo specialises in developing solutions that help brands create, automate and track engagement on their campaigns and recently announced a move into the realm of personalised messaging.
Released at the start of Q2 2014, the company’s Real-Time Personalization tool allows marketers to gather information about their prospects before targeting them with relevant content across a wide range of channels, including email, web and display.
After seeing Marketo’s customer base increase to nearly 3,500 members, company chairman and CEO Phil Fernandez claims that marketers are now seeing the value behind its offer.
“From new customers in the business-to-consumer category such as Unilever and 3-Day Blinds, to major business-to-business leaders such as Cisco, Principal Funds and SGK, marketers are choosing our innovative solutions to build individual and personal long-term relationships with their customers,” he added.
The company is now predicting its end-of-year revenue to hit between $143-145 million, marking a huge rise on the $95.9 million reported in 2013.