Company Name: Confero, Inc.
Location: Cary, North Carolina
Year Founded: 1986
Website: conferoinc.com
Confero, Inc. has been named the CO—100 Top Honoree in the Enduring Businesses category for 2024, and has also earned the title of this year's CO—100 Top Business.
Recognized for its long-standing dedication to helping companies excel in customer service through mystery shopping and compliance audits, this North Carolina-based business has thrived for over three decades and set a benchmark for sustainable practices in the industry.
Building a legacy of service
Founded in 1986, Confero’s journey began as a small training consulting service founded by JoAnn Buxton. Soon after, her daughter Elaine Buxton joined the company and has helped shape its direction over the last three decades.
“Confero, derived from the Latin root ‘confer,’ meaning to ‘bring together, contribute,’ embodies its mission: to help client companies serve their customers exceptionally well,” explained Elaine Buxton, who now serves as President and CEO.
Though it was Initially focused on providing customized training, the company discovered a growing demand for pre-training “needs assessments,” which ultimately became mystery shopping services. This led to a pivotal shift in its operations and laid the foundation for Confero’s long-term success in an industry being remade by technological advances and internet connectivity.
Over the years, the company has built a robust network of independent mystery shoppers and provides flexible, customized services to clients nationwide. Today, Confero is a national leader in mystery shopping and compliance services, boasting long-term relationships with clients like Coca-Cola North America, Jersey Mike’s Subs, and AMC Theatres.
These enduring relationships, which date back more than a decade, along with numerous industry accolades, reflect the company’s unwavering commitment to client satisfaction and adaptability. Regardless of the client's size, Confero tailors its approach to ensure effective collaboration and successful outcomes.
“When we work with larger corporations, we engage in more intricate procurement processes that often involve multiple stakeholders and workstreams, ensuring that all aspects of the project align with their comprehensive needs,” explained Buxton. “While this adds complexity, it also allows us to collaborate closely with decision-makers across various departments, leading to well-rounded and impactful solutions. With smaller clients, the process is typically more streamlined, allowing for quicker access to decision-makers and faster implementation.”
Sustainable growth through smart financial management
From its early days, Confero’s growth has been driven by smart financial planning and a willingness to adapt to changing market conditions. In the 1980s, its founder initially struggled to secure a loan due to discriminatory lending practices, forcing her to rely on alternative methods to grow her business.
“JoAnn Buxton faced a significant challenge trying to secure a loan for the business at a time when women were not permitted to sign for loans without a male co-signer,” Elaine Buxton said of her mother. “Without sufficient funding, the company grew by bootstrapping.”
By continually adapting its strategies and diversifying its client base, Confero ensures financial stability and sustainable success. This strategic foresight, combined with a dedicated and experienced team, has transformed Confero into the established, profitable business it is today.
Elaine Buxton, President and CEO, Confero, Inc.
Despite early financial barriers, Confero steadily expanded, securing its first national client in 1992. Later, Elaine Buxton made the strategic decision to shift the company’s focus from developing in-house software to adopting a third-party platform for managing mystery shopping reports. This allowed Confero to refocus on its core business, reinvest its capital more effectively, and weather economic downturns that challenged other businesses.
“By continually adapting its strategies and diversifying its client base, Confero ensures financial stability and sustainable success,” Buxton said. “This strategic foresight, combined with a dedicated and experienced team, has transformed Confero into the established, profitable business it is today.”
Through diversification, strategic planning, and the expertise of its leadership team, Confero has maintained steady revenue growth of 5% to 10% annually over the past five years while retaining more than 90% of its customers.
Driving innovation through technology and customer-centric solutions
Confero’s ability to innovate has kept it at the forefront of the industry, particularly with the development of its comprehensive reporting platform, which integrates mystery shopping, compliance audits, and social listening. This platform offers clients a streamlined way to monitor key metrics and improve customer service, providing customized rewards to top performers in the process.
“Clients can view results from sales, customer calls, customer comments, social media, and mystery shops on the same platform, with Confero providing customized incentives such as Visa or Amazon gift cards to high performers,” Buxton explained.
Under Elaine Buxton’s continued leadership, innovations like the reporting platform have helped Confero handle periods of change and growth. From overcoming financial struggles to transforming into an industry leader, Confero’s story exemplifies resilience, strategic foresight, and a dedication to continuous improvement.
“With a legacy of innovation, resilience, and dedicated leadership, Confero continues to inspire and lead in the industry, proving that sustainable growth is achievable through careful planning and diversified strategies,” Buxton said.
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