BOSTON, MA--(Marketwire - September 14, 2010) - PAID, Inc. (
PAID CFO Chris Culross stated, "PAID is improving its margins and moving toward profitability. Since the second quarter of 2010, we've restructured all areas of the company to focus our resources on the strongest financial and strategic opportunities for business growth."
"As part of our internal restructuring, Rich Rotman, formerly PAID's CFO, is now able to devote his full attention to overseeing operations and technology, including the screening and integration of new technologies and partnership opportunities aimed at expanding PAID's breadth of services to accommodate new business," Culross noted. "Terrific quality of service and execution are most critical to business success and take unique skill sets. Our new distribution of responsibilities has created a more powerful management team that is accelerating the pace at which we improve upon our high quality service and execute service offering initiatives, while seamlessly accommodating growth at the highest level."
Culross stated, "Our improved strategic focus has been effective, resulting in a strengthened service offering and numerous more profitable client contracts. PAID has never been in a stronger position. As the economy recovers, we're seeing more new business inquiries in a broader range of service areas. We're successfully securing new business and servicing our clients extremely well, as borne out by the tremendous client feedback we're receiving."
There is unprecedented demand for direct-to-customer communication and marketing that ultimately grows a client's customer base in size, loyalty and revenue generation. PAID provides this direct-to customer channel with a specialty in identifying and engaging with those disparate groups that have an affinity in common. PAID brings them together into a more cohesive group to build healthy sustainable relationships that result in higher sales and margins.
PAID celebrity services President Keith Garde states, "Much of our new business is a result of having more resources and the infrastructure support that enable us to successfully execute direct-to-customer programs. Business relationships that PAID has cultivated over the past several years are transitioning into client accounts to take advantage of our expanded service offering backed by a proven track record of superior service and performance. Our unparalleled direct-to-customer initiatives support PAID's clients in earning more and owning more of the business they are generating."
PAID's powering of one client's direct-to-customer communication, including the band's Website, Facebook and MySpace pages and fan community, has expanded the band's online fan community from 200,000 to more than two million members. In addition, it has improved the band's direct-to-consumer marketing and communication capabilities, driving merchandising, VIP Experience sales and the volume of consumer-generated content.
"A prime example is a recent VIP event at Fenway Park," Garde said. "PAID managed sales and VIP accommodations for 2300 VIP guests, in what was our biggest hosted event to date. The pre-show activities flowed smoothly and generated glowing feedback from hundreds of guests. The same night, PAID's production team shot a live video of the concert, and also honored a last minute request from the band to coordinate receiving and posting event videos taken by fans on their cell phones and video cameras onto the band's website in real time. High profile successes like these demonstrate PAID's competencies and definitely drive growth."
In the exploding area of social media marketing and branding, PAID excels at powering clients' brands by delivering a potent mix of creativity, social media marketing savvy, personal attention, breadth of service and professional excellence in everything it does. PAID's excellent quality, creativity and superior customer service is driving customers and partners to expand their relationship with PAID and recommend PAID to others. As a result of expanding relationships with PAID's partner Topspin Media and others, PAID is providing direct-to-customer services, such as social media marketing, merchandising, fulfillment, fan community management and VIP experiences, to new clients that include Iron Maiden, Motörhead, Aventura, Slayer, "Weird Al" Yankovic, and Wingless Angels (a program launched and supported by Keith Richards).
Garde stated, "PAID is proving that helping clients focus on direct-to-customer communication and marketing grows our clients' customer base, loyalty and revenues -- reliably and sustainably. 'PAID powers your brand' is a concept that works."
About PAID, Inc.:
PAID, Inc., publicly traded under the ticker PAYD, is a one-stop brand management and marketing resource for music, entertainment and sports personalities and organizations, and offers AuctionInc™ online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. Known for quality and customer service, PAID offers turnkey online, mobile, social media and traditional marketing campaigns, as well as award-winning video & film production, VIP ticketing, website design, merchandising, ecommerce and fan community management programs. More details are available at www.paid.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the company's cash flow, competition, celebrity programs, business development efforts, prospective growth, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company's most recent filings with the Securities and Exchange Commission.
Contact Information:
CONTACT:
For PAID, Inc.:
Julie Shepherd
Accentuate PR
+1 815 479 1833