Keairns brings CustomerVision home
When Brian Keairns, vice president of product marketing for CustomerVision, decided to create his own software company in 2001, conditions were serendipitous. He had a three years with Microsoft Corp. under his belt, and a total of nine years working for tech companies in Seattle and San Francisco. He’d been part of several successful start-ups, sometimes on the executive teams. Investors were plentiful in Seattle, and he knew there were several people available who would be perfect for his development team. A year later, he and his crew of 12 information technology professionals had finished the initial development of the CustomerVision software. During that time, however, conditions had radically changed.
“Sources for IT investments had pretty much dried up by the time we were at the point of sales and marketing,” Keairns said. “I realized I would probably have to finance it myself.”
Keairns decided to return to his home state of Iowa where his investment dollars would stretch further. He’d already considered making the move for his daughter, then 2 years old. Originally, Keairns had thought of his software as a product with broad applications, but when put on a limited budget, it made more sense to focus on a niche. Des Moines’ strong financial services industry confirmed Keairns’ decision to come home. He then heard about Emerging Growth Group, a local incubator for tech companies, and made contact with the group. CustomerVision is now located within EGG’s office space at 300 S.W. Fifth St. and has a Web site, CustomerVision.com.
CustomerVision is a software and services company that provides “knowledge management and incident tracking.” A more specific definition is difficult, as the product is altered for each client. For MWA Bank, CustomerVision provided an online “answer center.” Besides strolling through the answers on the site’s frequently asked questions, bank customers can search the list by keywords or instantly submit questions that the program automatically sends to bank employees with the proper expertise. With just a few clicks, the bank can add new content. The program keeps track of questions submitted and answers given, and automatically arranges the posted information from most-viewed to least-viewed.
“My basic idea was that there are a number of solutions to customer service that are focused on cost savings,” Keairns said. “I called mine CustomerVision because the system, used over time, will help businesses understand their customers better and make better business decisions.”
In 2002, Cindy Rockwell came on board as president and CEO of the company. She had heard about the company while serving on the board of directors of another Emerging Growth company. The company’s focus appealed to her. She had worked on information technology for Principal Financial Group Inc. and Wells Fargo & Co. At Principal, she developed the company’s strategy for “cross-selling,” or selling multiple products to existing customers. She was then made chief operating officer of Principal Connection, the unit of the company that implemented her strategy. In 2000, she started her own consulting company and taught her clients, including four Fortune 500 companies, about cross-selling. CustomerVision struck her as a product that implemented the strategies she teaching. A month later, she was on board.
CustomerVision now has four employees and 12 clients, ranging from local financial planner Michael Moller to two Fortune 500 companies. CustomerVision provides software, consulting and content. The company also “channels” its software, meaning that another company markets it under its own brand name. Rockwell said selling their product for distribution under another company’s name leads to less awareness of the CustomerVision brand, but brings in revenue faster and lends credibility.
“Also, you are partnering with companies that see you as a viable application blending with theirs,” she said. “That makes you a better acquisition prospect.”
For several months CustomerVision has been “in talks” with two large companies. If one of the deals goes through, CustomerVision will have access to a larger pool of salespeople with a long list of established customers. When it comes to returns on software investments, “the sky is the limit,” according to Keairns.
“I think we could eventually see seven figures,” he said. “I’ve been through four acquisitions, and the smaller companies brought $70 to $80 million. That was in better times, but I think we’re through the worst of it and the [mergers and acquisitions] market is picking up.”