By Patrick Comer
As we all rush to close Q4, it’s important to reflect upon Fulcrum’s growth over the past year. Before we delve into the data, I want to thank all of you who have made 2012 so spectacular, including clients, employees, investors, and sample partners. We have made great strides in terms of product development but also towards truly understanding our business model and role in the industry.
In 2012, we hosted over 66 million respondents in 61 different countries. Net conversion went up 17%, while survey conversion increased 20%. On the product side, we focused on improving our UI, the respondent experience, and algorithms to increase the odds that a user completes a survey.
2012 Growth Metrics:
Over the year, Fulcrum saw a large increase in the number of clients active on the platform, creating the sense of a real marketplace where sample buyers are engaging with sample sellers automatically through our technology. In the U.S., our most active market, almost 70% of all sample bought now uses Fulcrum exchange algorithms and tools:
Even as outside sample buy continues to grow, it’s being far outpaced by insourcing (self-delivery) as clients that own panels are using Fulcrum’s optimization engine to dramatically improve performance. Currently, over 71% of all platform completes are insourced:
One of the immediate ROI values of Fulcrum continues to be the ability for clients with their own panel assets to increase efficiency and delivery by as much as 80%.
Finally, we wanted to release this year’s Top 20 Fulcrum Countries (as measured by number of completes):
Overall, Fulcrum grew 144% YoY. The United States grew by a remarkable 274% to keep the top spot, with the UK and Germany keeping it close. It is particularly interesting to point out that Canada has experienced impressive growth this year. From a panel perspective, it’s always been a challenging and fragmented country, but the growth of optimized sample has finally made delivery easier and more efficient. Additionally, China is growing like hotcakes (~300% YoY). Without a top 5 global panel presence in China, 2-3 local companies are stepping up and charging ahead. Other notable performers include Brazil, the Netherlands, and Argentina.
Outside of the top 20 markets, the next 5 largest YoY growth countries were Indonesia, Colombia, Japan, India, and Chile. Thus, looking ahead to 2013, I foresee intense growth in both the APAC and South American regions.
Thanks again for an amazing 2012, and with so many new clients joining in, we look forward to a busy start of the year. Happy Holidays to all!