Repeated Quarterly Growth as Client Base Expands to 12 Categories
NEW BRUNSWICK, N.J. and MONTREAL, Aug. 20, 2019 /CNW/ -- Engagement Labs Inc. (TSXV: EL) (the "Company") announced today that revenues for its flagship product, TotalSocial® had reached approximately CDN $3.8 million for the 12 months ending June 30, 2019, up 55% versus the prior 12 months. In addition, the Company announced:
- Double-digit growth for each of the recent four quarters, compared to a year earlier (see chart below)
- Contracts with more than 30 Fortune 500 companies since the inception of TotalSocial in late 2016.
- Contract values between $100,000 and $400,0000 annually, with an average duration of 24 months, along with shorter initial engagements with prestigious, blue chip brands.
- A broadening of the TotalSocial client base from nine to 12 industries over the last 12 months, with new clients served in the beverages, travel, and video game categories.
"Last year was transformational as we completely shifted Engagement Labs staffing, infrastructure, and revenues to the TotalSocial platform," said CEO Ed Keller. "Our strategy is based on marketplace feedback indicating strong demand for a tool that helps separate the signal from the noise of social media, which is an important part of what TotalSocial delivers."
In January, the prestigious MIT Sloan Management Review published Engagement Labs' analytics showing that the metrics measured on the TotalSocial platform predict 19% of consumer purchases, providing clients with the tools they need to improve sales growth. Over half of the impact on sales comes from offline conversations about brands, which no other measurement system captures on a consistent basis.
"The diversity and prestige of our client base are important validators of our business and sales strategy," said Steven Brown, President and Chief Revenue Officer of Engagement Labs. "We are experiencing strong momentum which we expect will continue in the year ahead."
About Engagement Labs
Engagement Labs (TSXV: EL) is an industry-leading data and analytics firm that provides social intelligence for Fortune 500 brands and companies.
To learn more visit www.engagementlabs.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Engagement Labs