Mindshare Beats the Recession Out of 2010

SALT LAKE CITY, Feb. 22, 2011 (GLOBE NEWSWIRE) -- The leader in Customer Feedback Management (CFM) announced another year of record growth in 2010, continuing its tremendous streak of increasing subscription revenues for 92 consecutive months.

Mindshare Technologies grew its revenue by 33 percent in 2010, backed by a 20 percent growth in clientele, signing many household names.

The newly signed clients brought impressive growth to other areas of the employee-owned Salt Lake City company. Mindshare has now collected over 1 billion customer insights and more than 60 million surveys. Mindshare collects over 100,000 surveys a day! The company also achieved a 25 percent growth in users of its applications, now totaling more than 100,000 users.

"This kind of growth, especially during 'The Great Recession,' proves the strength of our products and the empowerment of the customer voice," said Richard Hanks, President of Mindshare Technologies. "We're most pleased with the success our clients achieved using our solutions." In March of 2010, Hanks also released the second edition of his industry standard-setting book, "Delivering and Measuring Customer Service," which he followed with several speeches at professional conferences.

Hanks and Mindshare CEO John Sperry were awarded 2010 "Ernst & Young Entrepreneurs Of The Year" in their region for their success developing the customer-surveying industry giant from the ground up.

"We're now in more than 125 countries and supporting 28 different languages. We've even teamed with European mystery shopping leader INTERNATIONAL SERVICE CHECK to create a brand across the pond called Fast Insight," Sperry said. "We're debt-free, profitable, not backed by outside investment, have had an astonishing 104 percent compounded annual growth rate in revenues since 2003, and our margins are improving. And we're just getting started!"

Mindshare's success, however, can be best measured by its impressive list of clients, including the largest of each of the following industries: quick-serve restaurant chains, cable/telecommunications providers, car rental services, car repair services, and business outsourcing/HR providers. To facilitate such an incredible amount of growth, Mindshare increased its staff by 50 percent in 2010, hiring the most knowledgeable talent from the food service, retail, and call-center industries.

Mindshare introduced several industry-leading products in 2010, including:

The Mindshare Text Analytics Suite: A three-tiered platform that dissects individual verbatim customer comments, combines them with quantitative survey data to unlock key insights, and monitors the customer trends that matter most to the client. Mindshare developed such a strong text analytics suite because its leaders believe feedback is moving toward real-time, unstructured, open-ended comments. Mindshare enables customers to provide feedback quicker and easier than ever before. To learn more, read the success story with IBM and Hertz in Mindshare's News Section.

Mindshare CoachTM: This engine provides specific "where" and "how" recommendations to managers and employees directly responsible for a location's success. The technology analyzes the customer experience elements, prioritizes them, and suggests improvements which will have the greatest impact on customer satisfaction and loyalty.

- Mindshare Social Media FusionTM: A unique set of tools that invites satisfied customers to post their satisfaction on their social media account after taking a survey. In 2010, Fusion spread positive messaging about Mindshare's clients to hundreds of thousands of people!

Mindshare ConnectTM Dashboard: An easy-to-use online report that enables field managers to quickly view multiple aspects of their customer service performance.

With all these top-notch new products firmly in place, Mindshare plans to roll out even more pace-setting products in 2011, including industry-specific services. Mindshare's got a few tricks up its sleeve and some big plans for new products that will change how businesses gather feedback, turn it into actionable information, and improve business results.

Zach Zavoral

(801) 743-7304


About Mindshare Technologies

Mindshare drives operational improvement. Using Mindshare, companies improve operational excellence, foster consumer satisfaction, build customer loyalty, and support employee retention. Our industry experts guide clients in building comprehensive enterprise feedback management (EFM) solutions. Mindshare's proprietary survey technology captures the voice of the customer in real-time and immediately transforms it into actionable intelligence through powerful and incisive reporting. Mindshare serves more than 25 different industries including travel, hospitality, restaurant, financial, salon, automotive, and retail. For information, visit www.mshare.net

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