Thursday marked an important day for Eloqua as the company executed a successful initial public offering (IPO) on the NASDAQ. The company raised $92 million and the stock has performed well in its two full days of trading.
What is behind the warm reception Eloqua has received in the public market? It’s the optimistic future of marketing automation and its role helping corporations achieve measurable sales benchmarks.
DestinationCRM quotes Ray Wang, principal analyst and CEO at Constellation Research, noting that by issuing an IPO, “Eloqua is confident there is a growing demand for its solutions.” And from the flurry of investors buying up Eloqua stocks, shareholders appear to be confident as well.
Even Eloqua’s private equity investors have remained loyal to the company during the transition, demonstrating a belief that better days for the company (and the industry) lie ahead. Additionally, customers may grow more eager to buy stock as they recognize that market adoption is accelerating, as I noted in a blog post late last week.
A recent CMSWire interview with Joe Chernov, Eloqua’s VP of Content Marketing, offers insight into the timing of the decision to go public and the company’s positive outlook on where content marketing is headed. In the interview, Chernov explains that “content marketing […] is a way to get people to discover and engage with your brand … on their own terms. It’s ultimately about a shift in perspective, and less about the content type or distribution channel.”
During the past few days, Eloqua customers, partners and friends showed their excitement for the company’s new public status by offering many congratulatory words through several social media channels including the company’s Facebook page and Eloqua’s own Topliners community.
While many companies would consider an accomplishment like launching an IPO to be an end goal, Eloqua sees it as merely a check point on the company’s journey to continued success. In a post on the company’s corporate blog, Chairman and CEO Joe Payne wrote that “at Eloqua, we consider an IPO to be a mile marker, not a finish line.”
Payne attributes the company’s achievement to its “unwavering focus on customer success” and goes on to explain that at Eloqua, victory is defined by its customers’ success.
“We owe [our customers] our continued promise to help make them successful. That’s what has gotten us to this mile marker. It’s the reason our customers topped the guest list at our bell ringing ceremony. It’s also the reason that we’re all at work today, finding new ways to make our clients modern marketing heroes across all industries.”