Engagement Labs (TSXV:EL), an industry-leading data and analytics firm that focuses on the entire social ecosystem and its impact on businesses announced that its TotalSocial data and analytics platform has surpassed $7 million in sales. The company launched the platform in Fall 2016. As quoted in the press release: Over the last 18 months, the … Continued
Engagement Labs (TSXV:EL), an industry-leading data and analytics firm that focuses on the entire social ecosystem and its impact on businesses announced that its TotalSocial data and analytics platform has surpassed $7 million in sales.
The company launched the platform in Fall 2016.
As quoted in the press release:
Over the last 18 months, the platform has exceeded expectations achieving more than CAD $7.3 million in contracts with a diverse group of Fortune 500 companies and brands, proving the broad appeal of TotalSocial. Clients have been signed across nine verticals, including beauty, dining, financial services, health and nutrition, media, retail, telecom, software and sports.
“I am very encouraged by the fact that industry leading brands are gaining a marketing and analytics advantage by utilizing our TotalSocial platform,” says Ed Keller, CEO of Engagement Labs. “Further, the range of verticals is an indication of the wide appeal of TotalSocial, providing the opportunity to grow within sectors where the Company already has clients, as well as through new verticals that continue to open up.”
The first TotalSocial client, a major global beauty brand, signed a new 2018 contract valued at USD $700,000 (CAD $875,000), the biggest contract since Engagement Labs launched TotalSocial. Engagement Labs works with the client to provide continuous scoring and diagnostics for marketing and social media campaigns in 10 markets around the world including in Europe, Latin America and Asia.
In addition to securing new clients, the Company is pursuing a growth strategy offering upsell opportunities to existing clients. The strategy proved successful in Q1 of 2018 with several contract expansions
“Retaining and growing our client base is a main focus for 2018,” says Steven Brown, President and Chief Revenue Officer of Engagement Labs, who’s hiring in December 2017 is a key element in the company’s investment in growth. “As one example, we recently announced that a major telecom client made a long-term commitment in 2018 and increased its annual spending with us by 100 percent. Having experienced the value we bring and uncovering the predictive nature of our data, they expanded their relationship with us to include a second major national brand.”
TotalSocial is the only platform that combines online data about brand conversations that take place via social media, with offline conversation data. The platform has a proprietary 10-year database of offline conversation built by Engagement Labs, the only such source of offline data about brands. These data sets feed the company’s predictive analytics engine, which uses proprietary algorithms and Artificial Intelligence/machine learning to forecast future sales and provide marketers with better insights, improved marketing ROI and increased sales.
The TotalSocial platform has been considerably enhanced since its initial launch and in January of this year the Company announced the release of TotalSocial version 3.0, which incorporates artificial intelligence (AI) and a machine learning engine designed to accelerate the identification of opportunities and strategies for marketers who seek to increase effectiveness and drive sales through social media and offline conversations. Proprietary algorithms, powered by this AI and machine learning capability rapidly build hundreds of predictive models using more than 100 variables in millions of possible combinations to identify the factors that predict sales and other key performance indicators for brands.
Not only has the marketing community validated the importance of TotalSocial, so have major players in the political community. Hillary Clinton, in her 2017 best-selling book, “What Happened,” cited TotalSocial analytics in explaining her election loss, writing, “Researchers who track what consumers are talking about, essentially a word of mouth index, found a ‘sudden change,’ with a 17-point drop in net sentiment for me, and an 11-point rise for Trump. According to Brad Fay of Engagement Labs, which applies well-established consumer research techniques to study elections….'”
“I am quite pleased with our progress since the launch of TotalSocial, and these are just a few of the accomplishments and milestones achieved,” said Ed Keller, CEO of Engagement Labs. “We look forward to keeping our investors updated with continued progress and success during 2018 and beyond.”