Thryv Holdings, Inc. (THRY): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at a company that has made a decisive shift, moving away from old directory services to a pure Software as a Service (SaaS) play, and the numbers from late 2025 show it's working. For Thryv Holdings, Inc., the focus is now entirely on their Small Business Automation platform, which is driving a healthy Q3 2025 monthly Average Revenue Per User (ARPU) of $365, putting their full-year SaaS revenue guidance solidly between $460 million to $463 million. Honestly, the real story here is their aggressive plan to double that annual customer spend toward $8,000; let's break down exactly how their Product, Place, Promotion, and Price strategies are set up to achieve that growth.

Thryv Holdings, Inc. (THRY) - Marketing Mix: Product

You're looking at the core offering, which is the Thryv small business automation (SBA) platform. This platform is designed to help small businesses manage day-to-day operations and grow efficiently. More than 100K businesses globally use Thryv software to connect with customers and run and grow their business.

The platform consolidates several key functions. As of the end of the third quarter of 2025, Thryv Holdings reported that total SaaS clients stood at 103 thousand year-over-year. This SaaS segment is the primary focus, with SaaS revenue reaching $115.9 million in Q3 2025, a 33% increase year-over-year.

The platform's architecture includes distinct operational centers. Here's a quick look at the components and related metrics as of mid-to-late 2025:

Thryv Holdings is actively developing new vertical-specific software solutions. A recent example is the introduction of Thryv for HVAC, which was designed with automations specific to that industry using Keap's tools. The company is leaning into cross-selling and anticipates continued growth as it expands into new verticals.

AI-supported marketing and business automations are deeply integrated. A survey conducted in May 2025 showed that 55% of small businesses were using AI, a 41% increase from 2024. These users report tangible benefits:

• 63% use AI daily.
• Top applications include data analysis at 62% and content generation at 55%.
• 58% report saving over 20 hours per month.
• 66% say AI saves their business between $500 and $2,000 monthly.
• Overall, 73% of small business owners said AI will offload repetitive tasks.

The Legacy Marketing Services division is undergoing a strategic wind-down. Thryv Holdings made a decision to terminate these solutions by the end of 2028, focusing on transitioning clients to the Thryv SaaS platform. The financial impact of this shift is clear in the segment's revenue decline. In the second quarter of 2025, Marketing Services revenue was $95.5 million, representing a 35% decrease year-over-year. For the third quarter of 2025, this revenue was $85.7 million, an 8% decrease year-over-year. Still, the Marketing Services segment generated an Adjusted EBITDA margin of 24.8% in Q3 2025.

Thryv Holdings, Inc. (THRY) - Marketing Mix: Place

The Place strategy for Thryv Holdings, Inc. centers on the digital delivery of its Software as a Service (SaaS) platform, minimizing traditional physical distribution complexities. The core of their distribution model is a direct-to-SMB (Small and Medium-sized Business) approach, heavily supported by a growing global partner channel.

Primary distribution is direct-to-SMB via the digital SaaS platform. This is the strategic focus, evidenced by the SaaS segment accelerating to over 60% of total consolidated revenue in the first quarter of 2025. The company serves approximately 280,000 SMB clients globally as of its May 2025 report. The platform is cloud-delivered, meaning the product reaches the customer instantly upon subscription, which is a key enabler of their modern distribution strategy.

The structure of their customer base reflects this digital focus:

• SaaS clients reached 111,000 by the end of Q1 2025, a 59% year-over-year increase.
• By the end of Q3 2025, total SaaS subscribers stood at 103,000, which included 13,000 from the Keap acquisition.
• The SaaS monthly Average Revenue per Unit (ARPU) was reported at $335 in Q1 2025, rising to $365 overall by Q3 2025.
• The company targets service-based SMBs generally having between 2 and 99 employees.

Strong global partner channel, including the Keap partner ecosystem, drives sales. Thryv Holdings actively cultivates its partner network, which was integrated following the Keap acquisition in late 2024. This channel is seen as crucial for expanding market reach. For instance, Kim Mortensen, the Vice President of Global Partnerships and Sales, previously spent 10 years at Keap leading growth through channel sales. The company hosted Partnerkon 2025 from April 1-3 in Scottsdale, Arizona, to engage this ecosystem. The Keap acquisition contributed $16.8 million in SaaS revenue during the third quarter of 2025.

Geographic reach includes the U.S., Australia, Canada, and New Zealand. Thryv Holdings serves clients across several international markets, with the U.S. being the largest revenue contributor based on recent segment reporting. The company's geographic footprint is managed with dedicated sales leadership for North America.

Here's a look at the reported geographic revenue contribution and client base metrics as of early to late 2025 reporting periods:

High-value clients are acquired through the US direct sales channel. The direct sales force, overseen by the Vice President, North American Sales, focuses on the U.S. and Canadian markets. This channel is instrumental in driving the strategic shift toward higher-value SaaS subscriptions. For example, the company has been converting clients from its legacy Marketing Services segment to the SaaS platform, having converted approximately 29,000 clients in a recent period. The focus on upselling and cross-selling within the existing base is also a key distribution tactic, evidenced by a Seasoned Net Revenue Retention (NRR) of 103% in Q1 2025. This indicates that existing customers are spending more, which is defintely a sign of successful direct engagement and value delivery.

Software is cloud-delivered, minimizing physical distribution needs. As a SaaS provider, Thryv Holdings' distribution is almost entirely digital. The platform's delivery mechanism is the internet, which supports its global reach without the overhead of physical inventory or logistics associated with its legacy Marketing Services segment. The focus on digital delivery supports the high gross margins seen in the SaaS segment, such as 70.9% in Q1 2025 and 71.1% in Q3 2025.

Thryv Holdings, Inc. (THRY) - Marketing Mix: Promotion

You're looking at how Thryv Holdings, Inc. communicates its value proposition to the market, which is heavily weighted toward direct engagement and culture reinforcement in late 2025. The promotion strategy clearly supports the ongoing pivot to a software-first model, aiming to deepen engagement with its existing base of over 100K businesses globally.

Annual 'Grow 2025' Conference

The annual 'Grow 2025' conference serves as a major touchpoint for customers and partners, held on October 16-17 in Scottsdale, Arizona. This event is designed to equip small business owners with practical insights, featuring tactical sessions on top marketing and AI trends. Keynote speakers included Barbara Corcoran and David Heath, aiming to drive interest in the platform's capabilities. The focus was on providing a three-step framework to help attendees convert more leads and maximize growth.

Content Strategy and Digital Visibility

Thryv Holdings, Inc.'s content strategy is clearly leaning into the technological narrative, focusing on how AI can drive growth and digital visibility for small and medium-sized businesses (SMBs). The platform itself is rolling out lots of AI within the software to make it easier for small business people, kind of meet them where they are. The content supports the overall mission of empowering these businesses to compete digitally. This focus on innovation is reflected in the platform's adoption metrics, with SaaS monthly Average Revenue per Unit (ARPU) reaching $365 in the third quarter of 2025.

The content promotion efforts are designed to showcase the platform's evolving capabilities, which contributed to SaaS revenue of $115.9 million in the third quarter of 2025, a 33% increase year-over-year. The full year 2025 SaaS revenue guidance was updated to a range of $460 million to $463 million.

• Focus on AI-supported marketing and business automations.
• Tactical sessions on brand building and digital marketing.
• Hands-on training for Thryv and Keap software users.
• Highlighting the success of Marketing Center as the fastest-selling product.

Partnerkon 2025 Engagement

Partnerkon 2025, held April 1-3 in Scottsdale, Arizona, was the first conference specifically for participants in the growing partner ecosystem, bringing together partners from both Thryv and the recently acquired Keap. This event is a key promotional activity to train and motivate this ecosystem, which plays an important role in bringing the software to thousands of small businesses. The CEO noted that the partner update at a recent conference delivered on partner value expectations, leading to better expectations going into 2026.

Mission-Centric Marketing

Marketing for Thryv Holdings, Inc. centers on the mission of empowering local businesses to compete digitally, which is the bedrock of their strategy. This is reinforced by the fact that the company ended the third quarter of 2025 with 103,000 total SaaS subscribers. The messaging is designed to show how the platform helps business owners save time and win against the competition.

Public Relations and Culture

Public relations efforts highlight the company's internal culture as a differentiator, which resonates with the external message of trust and support for SMBs. Thryv Holdings, Inc. earned a spot on Newsweek's Top 100 Global Most Loved Workplaces for 2025, ranking #66. This recognition was based on direct input from employees across the U.S., Australia, Canada, Dominican Republic, and New Zealand, drawing on data from more than two million employees worldwide surveyed for the index. This marks the second consecutive year Thryv has been recognized on this prestigious list. The ranking is informed by employee perspectives in five key areas, including values alignment and respect at all levels.

The company's culture is seen as pivotal to its continued success as a global, remote-first company. This cultural strength is a key component in promoting the brand's stability and commitment to its mission. If onboarding takes 14+ days, churn risk rises. Finance: draft 13-week cash view by Friday.

Thryv Holdings, Inc. (THRY) - Marketing Mix: Price

You're looking at how Thryv Holdings, Inc. monetizes its platform, and the focus is clearly on the recurring revenue stream. The pricing structure is anchored in a Software as a Service (SaaS) subscription model, which is defintely the engine for future valuation. As of the third quarter of 2025, the monthly Average Revenue Per User (ARPU) for the overall SaaS segment stood at a solid $365. This recurring revenue stream is highly profitable, supported by a SaaS Adjusted Gross Margin of 73.0% reported in Q3 2025, which signals strong pricing power and efficient service delivery.

Here's a quick look at the key financial figures that define the current pricing realization and revenue mix:

The core pricing strategy involves driving higher lifetime value from the existing customer base through expansion revenue, rather than relying solely on new logo acquisition. The plan is aggressive: increase the annual customer spend from the current baseline of approximately $4,000 toward a target of $8,000. This is achieved via upselling customers onto additional SaaS products and solutions, which naturally increases the realized price per customer over time.

The revenue outlook for 2025 clearly shows the managed transition away from legacy services toward the higher-margin software component. The expected revenue streams are segmented as follows:

• Full-year 2025 guidance for SaaS revenue is set between $460 million and $463 million.
• Full-year 2025 guidance for the declining Legacy Marketing Services revenue is expected to land between $323 million and $325 million.