Quotient (QUOT) - Get Quotient Technology Incorporated Report, the leading digital media and promotions technology company, is primed to build upon last year's exciting growth that was fueled by the industry's shift to digital. The shift was hastened at a time when the nation worked, shopped, cooked and schooled largely from home.
Key trends driving revenue include the acceleration of digital coupons, the growing need for first- and second-party data and consumers' prevailing preference for a hybrid of both digital and physical shopping. Last year was the first time that digital coupon redemptions surpassed paper coupon redemptions in the US, a shift that Quotient helped pioneer and continues to champion. And as the advertising industry prepares for a major disruption due to the changing dynamics of third-party cookies use, Quotient is less affected and well positioned with solutions powered by first- and second-party data.
With a growing suite of omnichannel capabilities powered by exclusive shopper data, Quotient is focused on helping brands and retailers connect with their audiences and provide them with value wherever and however they choose to shop, at a time when value is top of mind. This includes omnichannel campaign strategies that integrate media and promotions.
"The pandemic has increased the need for value not only for consumers, but for brands and retailers alike," said Steven Boal, CEO of Quotient. "The demand for hybrid forms of shopping, along with shifting availabilities and local requirements, emphasized the need for flexible, effective and efficient media and promotions, which led to the significant growth in digital that we are seeing today."
New verticals and partnerships
In the last year, Quotient expanded its retail network with new retailer partnerships including Shipt, grocery and convenience store retailer Hy-Vee, drugstore chain Rite Aid and convenience store chain 7-Eleven. Additionally, Quotient signed its first new retail partnership in the automotive vertical. Within its retail network, the company deepened its partnerships with retailers, which added solutions such as Sponsored Search and In-Lane digital promotions powered by Quotient to their solution set.
From a business offerings perspective, in 2020, Quotient partnered with Mandlik & Rhodes to offer brands and retailers a more strategic, transparent and efficient solution to clear digital coupons. Quotient also forged new partnerships with VIOOH to expand the digital out-of-home offering and began collaborating with TikTok as an approved advertiser, expanding its omnichannel offering into this growing platform.
Quotient's creative prowess and integrated approach was highlighted with both a 2020 Effie award and a Silver Reggie award for its role in the "SNICKERS® World Wrestling Entertainment at Dollar General" campaign for Mars Wrigley. The campaign seamlessly combined three of Quotient's core product offerings to drive its outstanding results: Social Influencer solution, a coupon offer and strategic paid media buys. Quotient also won the 2020 Martech Breakthrough Influencer Marketing Innovation award with its Social Influencer solution from over 2,750 submissions, which recognizes the best companies, technologies, products and services in marketing, advertising and sales technology.
Employee growth and corporate philanthropy
Quotient continued to strategically hire during the pandemic, increasing from approximately 955 employees in 2019 to 1,163 employees at the end of 2020. Women represent 60% of Quotient's executive leadership team at a time when McKinsey reports only about 1 in 5 C-suite executives is a woman. At the end of 2020, Quotient's global workforce was 48.1% female, up slightly over 2019. Nearly 38% of employees who hold a manager title and above are women, increased from 2019.
Key hires in the last year include Renee Cutright, Chief People Officer, and the appointment of Lorraine Hariton to the Board of Directors. Renee Cutright joined Quotient in February 2020 and is responsible for all aspects of human resources strategy, including recruitment, development, compensation and benefits, employee relations and culture. She joined Quotient from Nielsen where she served as SVP, Human Resources, North America Connect (Consumer), Global Bases and Neuroscience. Lorraine Hariton, appointed to Quotient's Board of Directors in January 2021, currently serves as the CEO of Catalyst and is an experienced board director and brings expertise in digital transformation, strategy, enterprise sales and marketing.
"Our commitment to hiring the best, brightest and most diverse minds in the industry will continue into the rest of this year," said Renee Cutright, Chief People Officer at Quotient. "We are proud of the strides we've made in ensuring that women are a core part of Quotient's cultural makeup."
In 2021, as part of Quotient's ongoing effort to influence positive change in the communities it serves, the company launched a newly refocused corporate philanthropy program: Quotient for Change. Quotient for Change tackles critical issues at the foundational level to provide communities with tangible outcomes to leave a positive legacy for future generations. To further this goal, Quotient supports programs that advance these core pillars: Economic Stability, Technological Equity and Environmental Sustainability. Quotient for Change also features an employee matching gift program, paid time off for volunteering and an assortment of philanthropic activities offered both company-wide and in office.
Quotient (QUOT) - Get Quotient Technology Incorporated Report is the leading digital media and promotions technology company that creates cohesive omnichannel brand-building and sales-driving opportunities to deliver valuable outcomes for advertisers, retailers and consumers. The Quotient platform is powered by exclusive consumer spending data, location intelligence and purchase intent data to reach millions of shoppers daily and deliver measurable, incremental sales.
Quotient partners with leading advertisers and retailers, including Clorox, Procter & Gamble, General Mills, Unilever, Albertsons Companies, CVS, Dollar General and Peapod Digital Labs, a company of Ahold Delhaize USA. Quotient is headquartered in Mountain View, California, and has offices across the US as well as in Bangalore, Paris, London and Tel Aviv. For more information visit www.quotient.com
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