VANCOUVER, BC, Sept. 17, 2020 /CNW/ - Datable Technology Corporation (TSXV: DAC) (OTCQB: TTMZF) (the "Company" or "Datable"), a technology company whose core product PLATFORM³ is an integrated suite of digital marketing applications sold as Software-as-a-Service ("SaaS"), announces an update regarding its technology and differentiation that is delivering value for customers and driving sales growth for Datable.
Datable's customers are large consumer brands that use PLATFORM3 to connect directly with consumers, drive incremental revenues by promoting initial purchases and increasing purchase frequency, and to enhance loyalty via rewards and ongoing engagement. PLATFORM3 collects and organizes rich demographic, behavioural and purchasing data from ongoing digital consumer engagement and provides consumer brands with tools to automatically retarget consumers based on this valuable data to facilitate more sales, and enhance ROI.
Datable's customers have large marketing budgets including a growing percentage allocated to digital marketing. Datable is now securing longer term and larger agreements due to adding software modules that enable its customers to use the data collected to automatically retarget consumers and because of its track record of delivering a scalable and secure enterprise level Platform.
In late 2019, Datable extended and deepened its differentiation in the market by launching Dynamic Messaging and Rewards ("DMR"), a breakthrough feature on PLATFORM³. This feature empowers consumer goods companies to deploy omnichannel communications and rewards to consumers based on their purchase behavior and brand engagement (see press release dated February 14, 2020). DMR enables brands to message consumers through email, SMS, and pop-ups and notifications in websites.
A leading global producer and distributor of motion pictures became one of Datable's largest customers when it increased its contracted license fees to $720,000 from approximately $120,000 (see press release dated February 25, 2020). This customer recently purchased a two-year license for DMR for $720,000 and will use it to promote online and instore purchases of movies and blue-ray/ DVD's. This customer is in discussions with Datable to further increase the scope and size of its contract, by adding additional business units including Animation and Theatrical Releases.
PLATFORM³'s DMR module has helped the Company secure critical competitive wins and has accelerated upselling and cross-selling into current clients. Executives of leading consumer brands called out DMR as one of the key reasons for renewing and expanding their licenses to build the next generation of their rewards and consumer-engagement initiatives.
DMR is helping brands achieve higher ROI and cost efficiencies through the automation of powerful lifecycle marketing programs that drive, track, and increase incremental purchases. It moves consumers along the path to purchase by influencing purchase decisions, engagement and encouraging them to share their brand experiences with friends and family.
Continuous improvement of PLATFORM³ enables the Company to secure critical competitive wins and has accelerated upselling and cross-selling into current clients. Datable is in discussions with many leading consumer goods brands that have licensed Datable's Platform to increase the size and scope of its contracts.
About Datable Technology Corporation
Datable has developed a proprietary, mobile-based consumer marketing platform – PLATFORM3 – that is sold to global Consumer Packaged Goods ("CPG") companies and consumer brands. PLATFORM3 is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM3 incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds and the results of financing efforts, – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Datable Technology Corp.
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