Lift & Co. (TSXV: LIFT) (OTCQB: LFCOF) (the “Company”) today
announces key updates for Cohesion, the Company’s cannabis consumer
insights platform. Starting today, Cohesion clients can build
custom, real-time dashboards using more than 100 available
dimensions to better meet the specific needs of organizations of
any size. Insights can be easily shared across teams at all levels
to align businesses to a single source of truth.
“We are at a pivotal moment where marketing dollars for cannabis
companies need to go further than they ever have,” said Matei
Olaru, CEO of Lift & Co. “Cohesion is a timely solution in
today’s market that will accurately track sales, enable custom
consumer segmentation and deploy targeted digital marketing to
these segments all in one place. Today’s major release enables
organizations of all sizes and budgets to improve their marketing
efficiency, impacting both top-line and bottom-line
performance.”
Cohesion draws from Lift & Co.’s millions of cannabis
consumer and budtender data points, accumulated over the past five
years through verified reviews, purchase receipts and brand
research, and on the Lift.co and CannSell platforms. Unlike
traditional CPG and cannabis data providers, Lift & Co.’s
combination of actively and passively collected behavioural data
(e.g. purchases) and attitudinal data (e.g. product sentiment) at a
single source provides a 360-degree view for consumer insights. To
gain an even deeper competitive edge, Cohesion clients can also
compare their own brand to their competitors’ along each
dataset.
Lift & Co.’s data sources inform three primary dashboards on
Cohesion:
- Purchase behaviour: Sales tracking, market
share, basket size and composition, consumer demographics, and
more.
- Product sentiment: Detailed product review and
rating insights (volumes and analysis), repeat purchase intent, and
more.
- Brand equity: Overall brand awareness
including sentiment, brand value, perception, and more.
"Leveraging data is the best way consumer brands can get a
competitive advantage but, too often, too many resources are spent
sourcing, stitching together and analyzing the data just to deliver
those insights to the business,” said Sean Copeland, VP of Data,
Lift & Co. “Cohesion will make any product or marketing cycle
more efficient by enabling the gathering of key consumer insights,
advertising directly to target audiences, and tracking the success
of those campaigns on one platform. The emergence of a major new
industry has created new data intelligence opportunities and we’re
delivering on that with Cohesion.”
With today’s release of Version 2, Cohesion clients can
manipulate any combination of metrics from these three primary
datasets on their own dashboards, personalized to their strategy,
to answer common questions such as:
- How did my most recent marketing campaign elevate brand
awareness?
- How does market share currently break down by brand, and is my
brand’s market share trending up or down?
- How likely are consumers to purchase my product(s)? How will
this affect my top line?
- Who is my consumer and what else do they buy?
More than 30 Canadian cannabis brands are on the Cohesion
platform since it launched in September 2019. Following the
introduction of consumer purchase receipt uploading to Lift &
Co. in 2018, and the addition of high-value rewards like travel
contests, the Company has had an accelerated increase in data
volume with a 498% increase in total submitted receipts and 326%
increase in total reviews for the three-month period ended December
31, 2019 compared to the previous year. This increased volume has
resulted in improved accuracy on Cohesion with a margin of error of
+/- 5% at a 95% confidence level for the top 50 brands in
Canada.
Also launching in 2020 is Cohesion Segmentation - powered by
Nielsen, which will combine Lift & Co. cannabis data with
Nielsen’s CPG consumer insights. Brands will be able to identify
custom consumer segments based on cannabis and non-cannabis buyer
trends, and track how they and their competitors’ brands interact
with those segments. Cohesion Segmentation will also include Adobe
Advertising Cloud’s DSP to seamlessly deliver programmatic,
compliant digital advertising to targeted consumers. This brings
much-needed industry-standard advertising solutions to cannabis, as
well as the ability to track the results of those campaigns on
Cohesion dashboards. With these enhancements, the Company estimates
that Cohesion clients will be able to increase click-through-rates
by over 20% and reduce digital customer acquisition costs by as
much as 30%.
Industry participants looking to find out more
about Cohesion, please contact Lift & Co. at sales@lift.coFor
media inquiries, please contact Nikki Laoutaris, Director of
Communications at nlaoutaris@lift.co
About Lift & Co.
Lift & Co. is a publicly traded technology company
modernizing the cannabis industry.
Forward-looking statements
This news release and each of the documents referred to herein
contains “forward-looking information” within the meaning of
applicable Canadian and United States securities legislation. All
statements, other than statements of historical fact, included
herein are forward-looking information. Often, but not always,
forward-looking information can be identified by the use of words
such as “plans”, “is expected”, “expects”, “scheduled”, “intends”,
“contemplates”, “anticipates”, “believes”, “proposes” or variations
(including negative and grammatical variations) of such words and
phrases, or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved.
Such statements are based on the current expectations of management
and are based on assumptions and subject to risks and
uncertainties. Although management believes that the assumptions
underlying these statements are reasonable, they may prove to be
incorrect. The forward-looking events and circumstances discussed
in this press release may not occur by certain specified dates or
at all and could differ materially as a result of known and unknown
risk factors and uncertainties affecting the Company.
Although Lift & Co. has attempted to identify important
factors that could cause actual results, performance or
achievements to differ materially from those contained in the
forward-looking statements, there can be other factors that cause
results, performance or achievements not to be as anticipated,
estimated or intended.
There can be no assurance that such forward-looking statements
will prove to be accurate or that management's expectations or
estimates of future developments, circumstances or results will
materialize. Accordingly, readers should not place undue reliance
on forward-looking statements. The forward-looking statements in
this news release are made as of the date of this release, and
subject to change after such date. The Company disclaims any
intention or obligation to update or revise such information,
except as required by applicable law, and the Company does not
assume any liability for disclosure relating to any other company
mentioned herein.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accept responsibility for the adequacy or accuracy of
this release.
SOURCE Lift & Co. Corp. (“Lift” or the
“Company”)
For further information:
Lift & Co.:Nikki LaoutarisDirector of
Communications647-464-0148nlaoutaris@lift.co
Kasia MalzChief Financial Officer416-953-6657kasia@lift.co
Investor Relations:Thesis CapitalPrit
Singh905-510-7636psingh@thesiscapital.ca
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5065a4e2-7e07-421f-96d0-c17025a7b631
https://www.globenewswire.com/NewsRoom/AttachmentNg/2d25faaf-ef64-4028-9609-5fa4c32a00f8
Li FT Power (TSXV:LIFT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Li FT Power (TSXV:LIFT)
Historical Stock Chart
From Sep 2023 to Sep 2024