Was discussing this with some friends earlier this morning and figured I would post it.
So the customer listed in Verb's Friday email yesterday was Mannatech. It was suggested that they were already a customer, and so they were/are. Did a little digging and found that they were one of the first companies announced to be using verbLIVE in April of 2020 (see below for a screen cap of Verb's tweet). So why the heck would Verb announce them again?
Well, it can only be one of a few things:
1. They left and came back...
2. Verb is just announcing them again because they had no other customers to announce and needed a space filler...
3. Mannatech finally became a paying customer of verbLIVE and they were only testing it before (for over a full year, mind you)
4. Mannatech went full monty and upped the Verb products it subscribes to, like adding Attibution or Pulse... (this is what I personally believe)
Well, let's examine Mannatech for a moment. First off, they are a profitable, publicly traded company with the ticker MTEX. Since they are public, it makes it easier to get some data. Most direct sales companies are not public.
Their market cap is around $63mil. Annual sales (anyone notice a pattern):
2016 = $180mil
2017 = $177mil
2018 = $174mil
2019 = $158mil
2020 = $151mil
Now to me, that is an absolutely perfect customer for Verb. A medium sized direct sales company with dropping revs year over year, that is looking to turn the tide. Enter verbLIVE with Attribution with a smattering of Pulse.
Let's look at their Quarterly data to see if we see any patterns:
When was it that Verb announced Mannatech as a verbLIVE customer? I believe it was April of 2020, which would be Q2 2020. Looks to me like they have a steady increase of revenue Q over Q with one hiccup. Certainly not bad. While not crushing it, it is a heck of alot better trending up than trending down. Perhaps it was enough to sell Mannatech on the virtues of Verb's sales product platform and adding other products to the mix. One other thought is perhaps Mannatech was doing a trial run on VerbLIVE with only a handful of sales associates using it. Now that they see success, they will broaden the usage to larger scale.
Now that I know they are public, they are certainly on my radar and will be tracking Mannatech's results to watch if Verb's products are making a difference.
Anyway, just thought I would share some thoughts....
So the customer listed in Verb's Friday email yesterday was Mannatech. It was suggested that they were already a customer, and so they were/are. Did a little digging and found that they were one of the first companies announced to be using verbLIVE in April of 2020 (see below for a screen cap of Verb's tweet). So why the heck would Verb announce them again?
Well, it can only be one of a few things:
1. They left and came back...
2. Verb is just announcing them again because they had no other customers to announce and needed a space filler...
3. Mannatech finally became a paying customer of verbLIVE and they were only testing it before (for over a full year, mind you)
4. Mannatech went full monty and upped the Verb products it subscribes to, like adding Attibution or Pulse... (this is what I personally believe)
Well, let's examine Mannatech for a moment. First off, they are a profitable, publicly traded company with the ticker MTEX. Since they are public, it makes it easier to get some data. Most direct sales companies are not public.
Their market cap is around $63mil. Annual sales (anyone notice a pattern):
2016 = $180mil
2017 = $177mil
2018 = $174mil
2019 = $158mil
2020 = $151mil
Now to me, that is an absolutely perfect customer for Verb. A medium sized direct sales company with dropping revs year over year, that is looking to turn the tide. Enter verbLIVE with Attribution with a smattering of Pulse.
Let's look at their Quarterly data to see if we see any patterns:
When was it that Verb announced Mannatech as a verbLIVE customer? I believe it was April of 2020, which would be Q2 2020. Looks to me like they have a steady increase of revenue Q over Q with one hiccup. Certainly not bad. While not crushing it, it is a heck of alot better trending up than trending down. Perhaps it was enough to sell Mannatech on the virtues of Verb's sales product platform and adding other products to the mix. One other thought is perhaps Mannatech was doing a trial run on VerbLIVE with only a handful of sales associates using it. Now that they see success, they will broaden the usage to larger scale.
Now that I know they are public, they are certainly on my radar and will be tracking Mannatech's results to watch if Verb's products are making a difference.
Anyway, just thought I would share some thoughts....
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