ON24 Accelerates Growth as Marketers Own More Revenue Responsibility
Marketers double down on webinars as ON24 increases new customers, furthers relationships with existing ones
SAN FRANCISCO, Aug. 16, 2018 /PRNewswire/ -- With almost 40% of marketers directly responsible for revenue, every marketing tactic must deliver a return on investment. That's why an increasing number of marketers are turning to ON24, the leading marketing technology company helping organizations drive human engagement and deliver actionable data. Through live, on-demand and personalized engagement, businesses of all sizes and industries are leveraging ON24 to generate more pipeline and revenue than any other marketing tactic.
"The era of marketing-as-a-cost-center is over, and making this shift to driving revenue takes a total transformation, from strategy to execution. As a result, marketers are looking for ways to scale human engagement and deliver true ROI for their business," says Sharat Sharan, CEO and Founder of ON24. "It's an incredible time to be in marketing, and we're proud to help marketers everywhere gain key insights into their prospects and customers, read their digital body language, and use those insights to tangibly accelerate revenue."
The ON24 marketing platform helps marketers create digital experiences that efficiently scale, from live online events to on-demand content libraries across all different mediums and channels. Through these personalized, dynamic interactions, marketers gain the behavioral insights they need to identify sales-ready leads and accelerate pipeline.
ON24, which experienced a 120 percent net retention rate of its customer base in the first half of 2018, has seen significant business momentum as marketers continue to turn to the platform as a way to help them positively impact their bottom line.
ON24's business growth during this time period includes:
- 37 percent Year over Year (YoY) in new business bookings in the second quarter of 2018
- Increased customer adoption leading to a 36 percent YoY increase in annual contract size in the second quarter of 2018
- Significant growth in international markets, with 35 percent of new bookings coming from EMEA and APAC
- Rapidly approaching $100M in ARR
The company itself is proof of the impact of effective marketing on revenue, with two-thirds of its won opportunities being influenced by webinar programs. Meanwhile, the company's new product, ON24 Content Gateway, which launched last year, has also seen compelling gains: doubling its growth in the second quarter of 2018.
In addition, there were several developments that helped fuel this business growth. Already in 2018, ON24 has hosted its second annual Webinar World conference with additional events in Sydney, Singapore, and London - establishing it as a decorated global event series. ON24 also hired tech veteran Ian Halifax as Chief Financial Officer, as well as Pat Hoey -- a sales executive who has served previously at Salesforce, Gartner, and BetterUp -- as VP of Sales, Americas.
ON24 passed 1 billion minutes of engagement this year, and now serves more than 2,000 customers worldwide. The company also released its definitive Webinar Benchmarks report, tapping its database of over 100,000 webinars to provide unmatched insights for marketers into how to best leverage webinars to engage prospects and drive revenue.
About ON24, Inc.
ON24 is on a mission to redefine how organizations engage with their audiences, powering interactive, data-rich webinars and content experiences that help people connect on a more human level and make smarter business decisions. Through the ON24 Engagement Platform, marketers can create Live, On Demand and Personalized Engagement, turn it into actionable intelligence and integrate it across their operations. Informed by more than a billion engagement minutes -- including 12 million polls, 1.3 million surveys, 1.5 million conversations, and conversion of over 17 million resources -- marketers drive more revenue from ON24 Engagement than any other marketing channel. Headquartered in San Francisco, ON24 has a wide global footprint with eight offices in key regions, including London, Munich, Singapore, Stockholm and Sydney. For more information, visit https://www.on24.com.
CONTACT: Keith Chapman, [email protected]
SOURCE ON24
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