By Tom Ballard, Chief Alliance Officer, PYA
The last 12 months have seen significant growth at Reviewbox, the less than two-year old company founded by James Horey to help vendors monitor their products of Amazon and other major retail sites.
“We have just continued to grow,” says the former researcher at Oak Ridge National Laboratory and later Vice President for Data Analytics at Cirruspath. Three data points underscore the positives that Horey sees.
“We have three employees now,” he says. There’s a sales person and a software developer in addition to Horey, the Founder and Chief Executive Officer. He expects to add another sales and marketing person by the end of the year.
Another key metric for any start-up is revenue generation.
“A year ago, we had about two dozen customers and $2,500 a month in revenue,” Horey said. “Today, we have just over 70 and $20,000 in monthly revenue.”
What’s driven the significant growth in both number of customers and recurring revenue?
“It’s new customers plus existing customers spending more,” Horey explains, adding that “we have grown the product by adding services.”
Just a year ago, Reviewbox’s sole offering was tracking product reviews for its customers. That service is branded with the same name as the company. In the last 12 months, the company has added features that allow customers to track pricing (Pricebox), content (Copybox), and keyword ranking when a site is searched (Searchbox).
“Our customers can monitor their price, buy box, and all third-party sellers and be notified of any key changes,” Horey says in explaining Pricebox. That feature allows them to enforce their pricing by knowing who is selling their products and at what prices.
The vendor can set minimum and maximum prices and be alerted when the parameters are violated. Reviewbox notifies its clients when the preferred merchant loses the buy box on Amazon.
On the content side, Horey says Copybox provides its clients the ability to audit their content and be notified of any changes. “This feature allows our clients to compare their content across all retail sites like Walmart and Amazon,” he explains.
Searchbox is the latest feature to be added to the mix. It provides analytics in terms of keyword search and how a company’s product ranks compared to competitors.
“Think of it like a retail shelf,” Horey explains. “It’s a digital version of shelf placement. How much do you own versus your competitor.”