Calgary, Alberta - August 9, 2018 - Ivrnet Inc. (TSXV: IVI) ("Ivrnet" or the “Corporation”) Ivrnet is pleased to inform its investors and partners of renewed growth in the NexText/AdCentral Transit Advertising platform over the first half of 2018.
In December of 2017 Ivrnet elected to terminate its existing partner channel through which NexText was being delivered in favor of an in-house sales initiative. Ivrnet felt that NexText was not receiving the focus it required from the company’s partners and felt the partner-channel’s failure to provide a dedicated sales force was slowing the market penetration for a world-class product. Identified in 2016 as a major driver of future Ivrnet growth, NexText underachieved in the previous model and a change was deemed necessary.
In January of 2018 Ivrnet hired a former sales executive with over 17 years of experience with Canada’s premier provider of outdoor advertising and tasked him with building a dedicated agent network to accelerate the growth of NexText. This executive was tasked with revamping NexText sales and marketing over the course of six months, and Ivrnet is thrilled to announce that these first six months have been extremely successful.
In these first few months the addition of promoting Mass Advertising Campaigns – which is the targeting of entire cities or city regions in addition to the hyper local advertising supported by NexText in the past – has already resulted in a 200% increase of booked Mass Advertising contracts. Verified contacts and presentations to key and critical national advertising agencies has increased by 800%, while verified cold calling activities to end users have grown by 1000%. The number of clients engaged with NexText has tripled since the end of 2017 and is expected to grow continuously. The sales cycle has decreased from 3 – 6 months to 3 – 6 weeks to engage new clients.
In 2017 the bulk of NexText revenue was generated from a handful of categories, most notably Fast Food, Financial Services, and Education. In 2018 Ivrnet is working with clients in the categories of Retail Sales, Financial Services, Fast Food, Dining, Government, Education, Telecommunications, Property Development, Medical, Charitable, Community Services, Travel and Entertainment, and Service.
In 2018 Ivrnet has partnered with Canadian and International partners to expand NexText into additional cities across Canada and the United States. These longer-term initiatives aim to provide continued growth to Ivrnet’s NexText product line if current city partners approach capacity. The revenue opportunity within current NexText cities is $3.3M per year, and the goal of the longer-term partnerships is to increase that opportunity dramatically.
Technical enhancements and new NexText partnerships are also underway to increase revenue opportunities through the production of MMS advertisements, Augmented Reality advertisements, and Rich Communication Services (RCS) delivered directly to a transit riders cell phone.
Ivrnet continues to invest in a strong future for NexText and is thrilled that the new initiatives are proving the value of this product line.
Ivrnet is a software and communications company that develops, hosts, sells and supports value added business process improvement and advertising software applications. Ivrnet’s software is delivered through both the traditional telephone network and the Internet. These applications facilitate automated interaction through personalized communication between people; mass communication for disseminating information to thousands of people concurrently and personalized communication between people and automated systems. Ivrnet’s applications are accessible at any time, from anywhere in North America via voice, phone, fax, email, texting and the Internet.
For further information, please contact:
Chris L. Topolniski - Chief Operating Officer, Ivrnet Inc.
Direct: (403) 538-9722
Cellular: (403) 870-2434
This press release contains forward-looking statements which reflect Ivrnet’s current beliefs and are based on information currently available to Ivrnet. These statements require Ivrnet to make assumptions it believes are reasonable and are subject to inherent risks and uncertainties. Actual results and developments may differ materially from the results and developments discussed in the forward-looking statements as certain of these risks and uncertainties are beyond Ivrnet 's control.
Examples of forward-looking statements in this press release, and the material assumptions and risks associated with those forward-looking risks, include the following: (i) Ivrnet’s belief that the revenue opportunity within current NexText cities is $3.3M per year, and the goal of the longer-term partnerships is to increase that opportunity dramatically. These statements are based on Ivrnet’s understanding and assessment of those markets and the opportunities within those markets. However, there can be no guarantee that Ivrnet’s assessment is correct, or even if it is correct, that Ivrnet will be able to capture any of those revenue opportunities or that it will be able to grow those opportunities; and (ii) Ivrnet’s belief that technical enhancements and new NexText partnerships are also underway to increase revenue opportunities through the production of MMS advertisements, Augmented Reality advertisements, and Rich Communication Services (RCS) delivered directly to a transit riders cell phone. These statements are based on the assumption that Ivrnet has the technical capabilities to build and deliver those technical enhancements and that such technical enhancements will increase revenue opportunities for Ivrnet as anticipated. However, there can be no guarantee that Ivrnet will be successful in building and delivering those technical enhancements in a commercially viable manner or that such technical enhancements will deliver any new revenue opportunities for Ivrnet or, if generated, that Ivrnet will be able to capture such revenue opportunities. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected effects on ENTREC. These forward-looking statements are made as of the date of this press release. Except as required by applicable securities legislation, the Company assumes no obligation to update publicly or revise any forward-looking statements to reflect subsequent information, events, or circumstances.