PRN: Analyst Firm Positions QuestBack as an EFM Niche Player in Social CRM Magic Quadrant Report
Â First, leading EFM provider Globalpark was positioned as a Niche Player in Gartner's Magic Quadrant for Social CRM, 2011- ahead of its acquisition and integration into QuestBack's operations.
Analyst Firm Positions QuestBack as an EFM Niche Player in Social CRM Magic Quadrant Report
OSLO, October 4, 2011 /PRNewswire/ --
QuestBack's Recent Acquisition of Globalpark and Launch of Social CRM Tool Continues to Strengthen Customer Offering
QuestBack, the European industry leader in Enterprise Feedback Management (EFM), has gained recognition of its market position following two key analyst reviews in quick succession over recent weeks. Â First, leading EFM provider Globalpark was positioned as a Niche Player in Gartner's Magic Quadrant for Social CRM, 2011- ahead of its acquisition and integration into QuestBack's operations. This recognition was swiftly followed by Gartner analyst Jim Davies' note, 'QuestBack Acquires Globalpark to Strengthen European EFM Leadership', 2011.
Gartner's Magic Quadrant for Social CRM, 2011report evaluates vendors on criteria that measures their ability to execute, which is weighted heavily towards product/service; overall viability; sales execution/pricing; market responsiveness and track record; marketing execution; and customer experience.
The report stated, "Hype around social applications by sales, marketing and customer service departments has exploded during the past two years as companies implemented social applications most as experiments or for tactical purposes."
The report continues, "Successful social CRM vendors will provide clear benefits for companies and communities, with multiple use cases for sales, marketing and customer service processes."
"Garner expects the social CRM market to reach over $1 billion in revenue by year-end 2012, up from approximately $525 million in 2010."
Globalpark was positioned as a Niche Player in the Magic Quadrant for Social CRM. Gartner says, "Niche Players provide useful, focused technology, understand changing market dynamics and are working toward evolving their product capabilities."
Subsequently, Gartner analyst Jim Davies' note entitled 'QuestBack Acquires Globalpark to Strengthen European EFM Leadership', 2011, states, "The EFM marketplace has entered an accelerated phase of consolidation that will continue for the next 18 months. Interest in EFM from associated software markets such as CRM has begun to grow."
He continues, "Vendors are looking to differentiate themselves based on a number of factors, ranging from geographic dominance, industry expertise, social alignment, analytical sophistication and consulting prowess.Â
"EFM is a hot investment area within many organizations, and most software vendors that are involved in the customer feedback market are growing at over 20% per year. Companies are increasingly interested in tools to capture, analyze and act upon customer feedback data originating from various survey mediums."
Ivar Kroghrud, QuestBack CEO, says: "We are delighted that Gartner has recognised Globalpark as a Niche Player for Social CRM. With QuestBack's recent acquisition of Globalpark, our social media and Social CRM offering has been strengthened. Our customers will certainly benefit directly through the ability to capture the social customer's voice in tandem with our existing EFM offerings."
 Gartner, Inc.Â "Gartner Magic Quadrant for Social CRM, 2011,"Â Adam Sarner et al., 25th July, 2011
Gartner, Inc.Â "QuestBack Acquires Globalpark to Strengthen European EFM Leadership, 2011,"Â Jim Davies, 22ndÂ August 2011
QuestBack Group is Europe's leading Enterprise Feedback Management and one of the world's Top 5 vendors.Â QuestBack provides online survey solutions, panel solutions and social CRM solutions - web-based services for relationship development through the collection, analysis, and follow-up of business critical information. QuestBack's clients achieve better financial performance through increasing the satisfaction and loyalty among their customers and employees. QuestBack was founded in 2000 and has achieved double digit growth ever since. The Company is headquartered in Oslo, Norway with subsidiaries in 7 countries and offices in a total of 17 countries, and serves over 5,000 customers across all sectors and industries, including Volvo, Ernst & Young, Coca-Cola, Microsoft and Bosch.
Globalpark provides Social CRM, Panel Community and Survey software that enables organisations to manage what matters across the enterprise. By capturing feedback and tracking sentiments of customers, employees and partners via online, mobile and social channels, they gain insights that drive better business decisions. By identifying and empowering influential advocates, they build reputation and extend reach. Founded in 1999, Globalpark software is German-engineered and globally-tested by leading brands and top market research institutes, including: Continental, Daimler, General Mills, GfK, IDG, Nintendo, Sony Music, TNS and Bosch.
About the Magic QuadrantÂ The Magic Quadrant is copyrighted 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.