Overall company revenue up 23 percent for the year
Outsell announced today that it achieved double-digit growth in revenue in 2017, with an 87 percent increase in direct-to-dealer revenue and a 23 percent revenue increase in its core business.
New AI-driven solutions helped drive Outsell’s swift revenue growth.
“AI is going mainstream for auto dealers,” said Mike Wethington, Outsell’s founder and CEO. “Whereas two years ago we had to explain to dealers what AI was, now they are asking for solutions grounded in artificial intelligence – and that’s been great for our business. No one has more experience with AI in automotive than Outsell.”
Highlights from the year:
- Launched a new addition to its AI-driven marketing platform: Inventory Mover, the industry’s first inventory recommendation engine that automatically sorts through consumers in a dealer’s DMS and CRM, extracts data on in-market shoppers, predicts which VINs will appeal to each consumer, and dynamically shows unique live inventory recommendations to each consumer via automated, individualized communications.
- Launched Outsell Social Ads, adding another channel to its flagship platform that helps dealers reach the unreachable in their database, attract new buyers to their store, and keep active in-market shoppers engaged with relevant, eye-catching ads on the world’s most popular social platform – Facebook.
- Formed its first Customer Advisory Board. Comprised of Outsell dealer customers representing major auto brands and varying dealer sizes, its mission is to ensure that Outsell maintains a deep understanding of dealers’ marketing challenges and needs so that it can continue to provide the most effective marketing automation solutions.
- Made enhancements to its core platform to help dealers gain a single view of customers.
- Promoted CTO Bryan Harwood to President. Harwood is a six-year veteran of Outsell who’s been instrumental in driving Outsell’s recent growth and success.
- Received the AWA award naming Outsell a top Marketing Solution for Automotive Dealers as well as being named one of the 10 Best Small Companies in Minneapolis.
“2018 is shaping up to be another exciting year full of growth opportunities,” said Wethington. “There is a strong demand for AI-driven marketing solutions that help dealers and OEMs better anticipate customer needs and smartly communicate with them in an individualized, relevant way throughout their lifecycle.”