Events on platform, participants reached and revenue all triple over 2011
CHARLOTTE, N.C. -- Virtual Race Bags announced the achievement of significant milestones for the Company, with events managed, participants reached and revenue in 2012 up over 300% from 2011.
"We are thrilled with the level of growth we were able to achieve in 2012, driven entirely by our clients, the organizers of endurance events across the U.S. and Canada," said Chris Bradle, Chief Creative Officer & Co-Founder of Virtual Race Bags™. "This growth is a function of a renewal rate of over 90% and the rapid adoption of our platform by running, triathlon, cycling, mud runs and other endurance-related events."
The Company is adding 30-40 new events per month to the platform and continues to rollout new features and enhancements to provide an exceptional experience for participants, strong value for sponsors and incremental revenue for events.
The features added by Virtual Race Bags are focused on helping Event Organizers simplify the management of a digital goody bag and enhance the ability to create incremental revenue. These features include:
- Event Director Dashboard -- gives organizer full control over all components of the event's bag
- Sponsor Invitation Management -- enables events to invite sponsors to place offers and track the progress of invitations in one place
- Offer Builder Tool -- sponsors are able to create high quality offers without graphics capabilities
- Enhanced Performance Reporting -- gives detailed performance reporting with one click
"Sponsors of endurance events are focused on integrating their offline and online efforts to help optimize their investment," said Gary Schwake, President & Co-Founder. "Participants continue to move their lives to digital. 85% of U.S. adults are online every day, 50% own a smartphone and 30% own a tablet. This conversion to digital will continue to expand in 2013."
"For this reason alone, increasing numbers of event organizers are incorporating our platform into their events and sponsorship packages. In addition, there is an obvious added benefit of significantly reducing the unnecessary and unwanted waste associated with paper offers and plastic bags," finished Schwake.
The Company offers a variety of pricing plans to make the platform affordable for and fit the needs of events of every size. The largest event on the Virtual Race Bags platform in 2012 was over 65,000 participants and the smallest was only 91 participants.
Event Organizers can learn more about the Virtual Race Bags platform a variety of ways:
On our Website: VirtualRaceBags.com
Recorded Webinar: Full Demo Online
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