VANCOUVER, BC--(Marketwired - October 25, 2016) - 3tl Technologies Corp. (TSX VENTURE: TTM) (OTCQB: TTMZF) (the "Company" or "3tl") provided an update on its business today.
Re-launch of PLATFORM3 with Enhanced Value Proposition
The first release of PLATFORM3, 3tl's Software as a Service (SaaS) consumer marketing platform, enabled companies to connect directly with consumers through mobile devices, provide rewards that motivate consumers to share brand friendly content via social media, and collect valuable demographic data for targeting future offers.
3tl learned that consumer packaged goods ("CPG") companies and the advertising agencies that serve them need and want a tool that can identify which consumers actually buy their products in retail stores. While CPG companies have large annual budgets for shopper marketing in retail stores, where the vast majority of their products are purchased, they have challenges in identifying and connecting directly with purchasing consumers.
3tl re-launched PLATFORM3 in the second half of 2015 after adding modules that identify which consumers purchase products in retail stores and online. This added functionality enables companies to reward consumers for purchasing their products at the point-of-sale and to establish a direct relationship with purchasing consumers so they can reward them for additional purchases and target them with further offers.
2016 Year to Date Highlights
- 3tl's PLATFORM3 has been licenced by leading CPG companies and their advertising agencies for 38 digital promotions that have been completed or will commence before the end of 2016.
- In the first half of 2016, the average licence fee was approximately $10,000 as CPG companies tested PLATFORM3 in short-term promotions. The trend in the second half of 2016, is to longer term subscriptions and larger license fees, including a multiyear agreement with Fandango Rewards (see press release dated June 22, 2016).
- Since the quarter ended September 30, 2015 revenue has grown quarter over quarter. This trend is expected to continue into the third quarter ended September 30, 2016.
- Based on CPG company demand, added modules for digital coupon distribution and a recommendation engine that suggests products based on consumers' purchasing behaviour.
"Based on the success of the short-term promotions we ran in early 2016, we were able to show CPG companies the benefits of connecting directly with consumers who purchase their products in retail stores and build confidence in the scalability and stability of PLATFORM3," said Rob Craig, CEO of 3tl. "We believe the trend to longer term and larger license deals with leading CPG brands and agencies is evidence that our platform is delivering results for our customers. In the fourth quarter, we are focusing our efforts on longer term license deals that have the potential to generate greater value to our customers and high margin recurring revenues for 3tl. We are providing a rich set of tools enabling CPG companies to influence purchasing decisions and reward consumers for brand loyalty through mobile devices, and to build a growing database of purchasing consumers that they can target with meaningful offers to drive further revenues."
About 3tl Technologies Corp. 3tl Technologies Corp. owns 3 tier logic and its proprietary PLATFORM3, Software as a Service (SaaS) consumer marketing platform. PLATFORM3 is used by consumer packaged goods (CPG) companies and their marketing agencies to engage shoppers through their mobile device, to influence their purchasing decisions, to activate mobile and online promotions, to verify proof-of-purchase, and to gather in-depth data about consumer purchase behaviours. PLATFORM3 encompasses proprietary consumer engagement strategies and technology modules including Digital Promotions, Receipt Scanning and Validation, Rewards and Gamification, Loyalty, Consumer-to-Consumer Sharing, Coupon Distribution, Product Recommendation Engine, Data Capture and Analytics.
For additional information about the company please visit www.sedar.com and/or 3tltechcorp.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.