Today Affinitiv, the leading provider of data-driven marketing and software solutions to the automotive market, announced its Q1 2021 financial results and recapped its successes. The company announced it achieved Q1 2021 new bookings growth by an increase in monthly recurring revenue (MRR) of +55% year-over-year and by an increase in transactional sales of +51% year-over-year. This successful financial performance was driven by strong execution of the new go-to-market model launched in the previous quarter.
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“We were able to capitalize on several new revenue opportunities from large OEMs that resulted in a new sales record for the quarter”
As a testament to Affinitiv’s results-oriented partnership approach, through Q1 2021, Affinitiv’s two most strategic OEM clients experienced a combined 19+% increase year-over-year in light vehicle sales, outpacing the industry average of 12%. This growth drove additional client investments with Affinitiv, which grew revenue by 16+% year-over-year. This contributed to Affinitiv delivering its best sales quarter in company history. Key ingredients related to Affinitiv’s success were the Executive Leadership Team that was put together by Sid Nair, President and Chief Executive Officer at Affinitiv, as well their new go-to-market strategy and results-focused management system that were both launched in 2020.
By building on these strong foundational changes, Affinitiv was able to achieve several key wins in Q1 2021. The company’s in-house digital marketing agency, Affinitiv Advertising, signed a full-service agency opportunity with a major dealer group worth over $2 million in annual contract value. Affinitiv also secured opportunities to support B2B Wholesale Parts and B2C Communications that leverage vehicle telematics data for a major OEM, resulting in an annual contract that exceeds $1 million. Lastly, Affinitiv earned “Preferred Partnership” status with a leading OEM to provide solutions focused on owner retention support, as well digital SEO and SEM services, resulting in an annual contract that exceeds $3 million.
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Across the organization, Affinitiv has continued to stay true to its customer-first mentality, which has enabled Affinitiv to retain & grow key accounts while also adding new ones.
“We were able to capitalize on several new revenue opportunities from large OEMs that resulted in a new sales record for the quarter,” said Nair. “We’re proud to partner with our customers and leverage our technology platform with solutions that contribute to an increase in sales for our clients. Our passion to deliver the best solutions in the industry is paying off and I am proud to be part of this amazing team.”
Another key area of focus for Affinitiv in 2021 is to continue creating a positive culture based on the organization’s mission, vision, and values that were formally launched in Q4 2020. In addition, Affinitiv’s Diversity Council, BRIDGE (Building Real Inclusion via Deliberate Growth and Empathy), continues to positively impact the organization with active participation from Affinitiv associates being involved in at least one of the 16 different diverse Business Resource Groups within the organization.
Affinitiv remains committed to creating a collaborative, hybrid working environment for its associates. The company has made significant investments in revamping the performance and merit management programs to promote an inclusive, performance-driven culture. “When I came on board less than a year ago, a goal of mine was to build on the culture by having a common mission, vision, and a set of values,” said Nair. “The associates at Affinitiv have united together around this set of goals to continue the development of the culture within the organization and to then bring it to our customers. This is a key factor for our success this quarter. We are confident that Affinitiv is poised for continued growth throughout 2021.”
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