EN1 IconicReach beats customer milestones
engage:BDR (ASX:EN1) today announced three new customers are joining the IconicReach platform: Provillus, NutraPrice Pure, and Coset Korea.
This announcement is in line with EN1’s Strategic Plan towards Profitability that it published in February 2019, where it announced that IconicReach would sign three to four new customers per quarter.
The IconicReach team has achieved this milestone, having now signed four new brands in the second quarter to date — ahead of plan. This includes the partnership with singer, Sean Kingston, which was announced last week.
Prior to this, IconicReach signed six new customers in the first quarter — double its target — and has now signed a total of 10 new clients in 2019 to date. In addition to the three new customers announced today, and Sean Kingston, these are WeDu Communications, Happyroom Co., Gio Clavis, Putti Atti, ASHLEYlauren and NSR Riding.
Every new customer is looking to grow their user base and acquire individualised content that can be syndicated on their websites, Facebook, Instagram and TikTok instances. The new customers cover the broad spectrum of consumer goods, making it difficult for some of them to target their niche audiences.
IconicReach’s diverse base of influencers helps brands hone-in on individuals deeply ingrained in a particular niche and provides a simple one-stop-shop for each brand to reach their marketing needs.
Three new IconicReach customers
The first of the three new customers is US-based Provillus, an all-natural hair growth supplement that provides nutrition to restore dead hair follicles and prevent hair thinning. Users apply the mix of natural vitamins, minerals and herbs to the site where hair growth is needed via dropper or in spray form. There are two specially designed formulas; one for men and one for women.
The brand partnered with IconicReach to gain influencer-generated content that can be cross-purposed and posted on other marketing channels. Since Provillus is a relatively new brand, it is also looking to increase brand awareness and expand its client base.
The second new customer to IconicReach is NutraPrice Pure is a US-based health supplement brand that focuses on clean ingredients in its formulas. The brand formulates its products to popular diet habits like Keto, in addition to remedying common symptoms of aging through advanced joint health formulas and cognitive enhancement supplements.
NutraPrice Pure has been in business for over 25 years and seeks to revitalise its customer base. The brand is looking to use both male and female fitness influencers to promote their products in addition to healthy lifestyles. NutraPrice Pure will partner with influencers over ages 45+ to cater to clients with muscle weakness and joint pain.
The third new IconicReach customer is Coset Korea, a leading world provider of quality packaging solutions and services for specialised products for the telecommunications and industrial sectors. The company specialises in lensed fiber production and transport, reducing the time-to market for customers.
Founded in 1999, the brand has long been serving as strategic technology and manufacturing partner for global partners in various stages of development. Through a partnership with IconicReach, Coset Korea is looking to grow brand awareness and expand global partnerships. Being based in Korea, aligns with EN1’s strategic goals to expand its presence in the Asia Pacific region.
What’s next for EN1?
EN1 explain that over the next few months, the market can expect to see IconicReach maintain the same momentum with client announcements, exceeding the company’s goals.
As more brands enter into IconicReach’s platform, management expects a positive reflection on the company’s incremental revenue, gross margin and profitability.
EN1’s finance team is working around the clock to close April’s financial books and results and expects to deliver preliminary figures shortly. For now we know that on April EN1 recorded its strongest programmatic revenue month in company history:
- April consolidated revenue A$1.22 million
- Overall gross profit margins of 40%
- April consolidated receipts A$1.41 million
- April consolidated cash outflow A$1.42 million
- April net cash used in operating activities A$10,000
- A$250,000 deployed for second group of publisher activations
- A$10.7 incremental daily revenue expected from new activations
EN1 CEO and Executive Chairman, Ted Dhanik, said of the month, “April was a very strong month from our perspective, but why not keep raising the bar starting with May. Management is looking forward to challenging those results this month and delivering something we can all be proud of.”