Repeated Quarterly Growth as Client Base Expands to 12
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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.
For media inquiries please contact:
Vanessa Lontoc / Ed
Keller, CEO
Engagement Labs
vanessa.lontoc@engagementlabs.com /
ed.keller@engagementlabs.com
SOURCE Engagement Labs