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Peeks Social (TSXV:PEEK) has provided additional discussion related to to the performance strategy of its Peek product. As quoted in the press release: The Peeks app was launched in November 2016. The Company has identified user sessions and user deposits as being key performance indicators (“KPIs”) for monitoring the performance of the Peeks product (see …
Peeks Social (TSXV:PEEK) has provided additional discussion related to to the performance strategy of its Peek product.
As quoted in the press release:
The Peeks app was launched in November 2016. The Company has identified user sessions and user deposits as being key performance indicators (“KPIs”) for monitoring the performance of the Peeks product (see press release dated June 30, 2017). Average monthly dollars deposited per user increased over 800% between November 2016 and May 2017 (to $1.27 in May). User sessions increased almost 500% over the same period to 2 million in the month of May 2017.
The Company has identified which services, features, and processes are the most efficient in driving the performance of these metrics and will now be directing significantly greater resources to the ongoing improvement of these KPIs.
“We are very happy with our performance to date. After 17 years of running tech companies, and as a paying shareholder with several million dollars of my own money in this Company, I believe in money spent efficiently. Each service, feature, and process is measured over time for its effectiveness in driving the business’ KPIs. Once we’ve established what is most effective then we allocate greater resources to it and backburner other less performing initiatives. That’s what I’ve done for years and that’s what I’m doing here. To date we have studied what triggers user sessions and what encourages users to deposit. We are now going to allocate significant resources to drive those metrics aggressively. The ‘beta’ period is now over, and the results are encouraging. Like I’ve said recently, the time has come for us to step on the gas,” said Mark Itwaru, CEO of the Company.
