November 21, 2012
RingRevenue Raises Investment Capital for its Call Marketing Automation Solution
By Tracey E. Schelmetic
Let’s face it: Web-based marketing is still a bit like the Wild West. There are so many options that many companies wind up putting together a program, crossing their fingers and hoping for the best. This is no way to conduct a marketing campaign, however, so the industry has, as of late, witnessed a rise in companies and solutions to help you track the effectiveness of your online marketing efforts.
One such company is RingRevenue, a developer of call marketing automation solutions. This week, the company is announcing that it has raised an additional $3.25 million in growth capital, led by existing investors GRP Partners and Rincon Venture Partners.
The two investors have contributed additional capital to help RingRevenue more aggressively expand its sales, marketing and software development.
U.S. consumers place about 30 billion calls to call centers each year – a number that is growing by billions of calls a year as mobile search makes it even easier to do the most natural thing with a phone – make a call.
Because phone calls convert at 10 to 20 times the rate of online browser clicks, advertisers are willing to pay much more to drive leads via phone call. But once that call comes in, RingRevenue said, it costs advertisers several dollars each time they answer the phone.
RingRevenue’s solution was designed to make it easy for marketers to set up, manage and adjust their marketing in real time, with complete campaign management, clear attribution and practical analytics that help businesses grow sustainable revenue across all online, offline and mobile marketing channels.
“RingRevenue has not only pioneered an easy-to-use and cost-effective technology that helps businesses maximize their marketing investments, but they’ve also essentially carved out their own massive slice of the $300 billion advertising market,” said Rincon’s John Greathouse in a statement announcing the funding round. “RingRevenue provides valuable, detailed, real-time analytics that help businesses optimize their ad spending, so they waste less time and money and know where to concentrate their efforts.”
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Edited by Braden Becker