1
TOWARDS A GREAT FINISH TO THE YEAR
We ended August 2020 as predicted with a whooping 174% off target and we are aiming at doing even better by the end of the year. It certainly has not been an easy year for many businesses, but frankly thanks to being a 100% online business in an area (languages) where needs are still prevalent and growing, we have made it pretty well so far! And we are happy with that.
Looking back at the various sales strategies we chose to follow all around the year to make this happen we can say that expansion sales was actually not a bad choice at all, thanks to market research in particular where the many IPSOS offices we work with DID spend on languages.
Now into market research and media mainly (where our presence is also strong albeit sales lower than market research – media being a slow burner with higher potential in the long run), we are becoming the language expert for both market research and media companies alike across the world.
Account management (managing our clients and making them happy) did help as well, with a low churn rate still below 3% this year.
Public tenders is the new sales channel with the highest revenue potential as each contract (usually spanning from 2 to 3 years) amounts from $200,000 to $2,000,000. As we speak, we have responded to 7 tenders globally which decisions are coming out soon. We are working on 6 new tenders at the moment, most of them being from UNITED NATIONS agencies where we are a registered supplier. Being already registered and known will help in the process of winning these tenders.
2
UNBABEL
By positioning ourselves as the market research and media sectors language expert, a strategic partnership agreement was concluded a few days ago (announcement made today on social media) between our company and $91m Silicon Valley VC-backed UNBABEL. This is a great move for both companies as this complementarity will enable us to grow our customer base while UNBABEL will intensively be introduced our market research clients where UNBABEL has not had much traction so far. That’s a complete win-win!
3
LARGER, STRONGER
Last but not least, we are proud to announce that our Board of Directors has welcomed a new member, AJ Nadiem, as Chief Strategy Officer. AJ is a seasoned mentor, originally from the Big Apple, now UK based. AJ has a long experience managing partnerships and cross-border deals with Multinational Corporations. Without a doubt he will be a great asset to our company to take it to the next level.
Moving forward our newsletters will be published quarterly in order to enable us to describe trends from a more global, long term perspective, which we know our investors audience is craving for :).
September 08, 2020 update.