By Exec Edge Editorial Staff
Prodege is a cutting-edge marketing and consumer insights platform that has charted a course of innovation in the evolving technology landscape by helping leading brands, marketers, and agencies uncover the answers to their business questions, acquire new customers, increase revenue, and drive brand loyalty and product adoption. Clients include Best Buy, DoorDash, Gillette, Macy’s, Kraft, General Mills, and Unilever among many others.
Bolstered by a major investment by Great Hill Partners in Q4 2021 and strategic acquisitions of Pollfish, BitBurst & AdGate Media in 2022, Prodege looks forward to more growth and innovation to empower our partners to gather meaningful, rich insights and better market to their target audiences.
How are you different from your competitors?
We’re lucky enough that I believe we’re a recession-resistant company in the marketplace. With all of our different solutions and our diversified offerings, we’re present in a number of different tech landscapes and we’re a major player in each.
As you think about each of our unique offerings, there are competitors in each lane but we haven’t come across one that has a footprint in each as we do.
We turn insights into results, and the results we deliver further enhance our ability to help clients extract insights
There are many great businesses that focus on either insights or marketing, but we are the only provider of scale that marries both. As a result, we know a lot about our consumers: who they are, what they do, where they live, what they’re like, where they shop, and hundreds of other attributes.
What is your overall growth strategy, beyond M&A?
We’ve been successful in gaining wallet share of marketing spend, cross-sell insights, and marketing solutions. This remains a focus area for us. Once customers work with Prodege and see results, they are apt to transition additional campaigns and projects to our company.
Innovation has always been a key part of our success. Recent launches are doing well and we have a strong pipeline of new products and solutions.
We’ve developed a user-friendly platform, “peeq”, where our market research partners can access specific audiences of consumers, run a survey to obtain timely insights, and visualize the data in a way that’s easy to grasp among stakeholders.
We’ll be launching our “pulse” module before the end of the year, which will allow partners the chance to get access to trended data over time from verified shoppers.
We’re also leveraging machine learning and yield optimization tools to personalize the consumer experience to ensure each user is served with promotions that are relevant and appealing to them.
How is Prodege navigating the current macroeconomic environment?
With 6,500 clients and more than 115% net revenue retention in 2021, we delivered more than $300 million in revenue and 32% year-over-year growth last year.
We have continued to see strong revenue growth this year, which allows us to continue aggressively investing in our business and the very meaningful opportunities we see ahead.
We deal with the most sophisticated marketers with deep experience managing through economic headwinds. They know that if they cut back too much, they lose sales as recoveries start to happen. Because we’re able to provide extremely high ROIs for our customers, we are one of the last places they look to cut back.
When the economy recovers, we have seen marketers ramp spend levels back up even more quickly and dollars skew even more toward solutions that provide the best returns, like Prodege.
What are the trends you see affecting the sector in the next few years and how has Prodege positioned itself to benefit?
When it comes to online privacy and the evolving landscape, unlike others in the market, we are not adapting as we have always been privacy forward. Consumers opt-in to take surveys, complete missions, and offer us permission to their data as a result.
We’re in a position of strength because we’re preparing for a cookie-less future, which will make online tracking extremely difficult. This is an advantage for us.
There are always new technologies coming to market that help a researcher or marketer to be more agile, and move a bit quicker and that is where we are keeping a pulse on.
At the end of the day, we know the customer is continuing to wear multiple hats and needs to achieve clear results that can push their business forward and we want to be their partner in that.