Constant Contact Inc (CTCT) is continuing to grow its customer base and is on track with its share price guidance, according to Harpreet Grewal, the company’s Chief Financial Officer. He was speaking at the 17th annual Needham Growth Conference at the Palace Hotel in New York City.
Constant Contact Inc. provides marketing tools in e-mail, social media marketing, event marketing, local deals and survey products that enable to create, send and track permission-based marketing campaigns.
Speaking in advance of its fourth quarter earnings call on January 29, Grewal said Constant Contact is on track with its stated guidance for the year of $46-$47. The company has 625,000 customers as of the end of Q3, he added. Grewal said the average customer retention rate is now at 50 months.
Grewal noted that there was a slight headwind to company financials in 2014 attributed to credit card failure rates, as customers felt the effects of data breaches at major retailers and did not update their information with Constant Contact. “But that doesn’t take away from accelerating growth,” Grewal said. “We’re executing quite well.”
Constant Contact sends out an estimated 60 billion to 70 billion e-mails per year on behalf of customers, Grewal said.
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