Verb Technology Co., Inc. is one of the sponsors for the upcoming Benzinga Global Small Cap Conference set to take place on December 8-9, 2020.
As a result of the pandemic, online shopping has taken over the retail market. Government-imposed safety measures have been a main driving force behind this massive shift, with many choosing to stay indoors. And as online shopping becomes the new norm among consumers, many companies have had to rethink their business models to account for this change.
According to a study conducted by DealAid, 90% of consumers have spent more time shopping online since the start of the health crisis. This year's Black Friday also saw a record-hitting increase in clicks with online shopping surging nearly 22%, according to Adobe Analytics.
And in observing these new spending behaviors, it's important for companies to create engagement that corresponds with this new landscape (which doesn't seem to be going away any time soon). A recent McKinsey report showed that more than 60% of consumers had changed their shopping habits, and shopping online is expected to grow 37% more next year.
One such company that is helping companies adapt to this online market is Verb Technology Co., Inc. (NASDAQ: VERB). Verb is a Software-as-a-Service (SaaS) company that is reshaping how businesses attract and engage with customers. The company's products are cloud-based, accessible on all mobile and desktop devices, tailored for individuals and enterprise users, and produce real-time measurable results.
How Does Verb Work?
Today people consume information rapidly, and companies need to find ways to communicate and create engagement. Verb offers video-based sales enablement applications, including interactive livestream e-commerce, webinar, CRM, and marketing applications for entrepreneurs and enterprises that use video as a way to interact and eliminate friction from the buying process.
Verb combines current trends that show that video is 80% more engaging than text/images, allowing customers to enhance their buying experience. In fact, the company is considered one of the most effective sales tools in the market today, and its technology is being integrated into popular ERP, CRM, and marketing platforms such as salesforce.com, inc. (NYSE: CRM), Adobe Inc (NASDAQ: ADBE) Marketo, Oracle Corporation (NYSE: ORCL) NetSuite, and in the future, Odoo, and Microsoft Corporation (NASDAQ: MSFT), among others.
By 2022, 82% of the world's internet traffic is expected to be through video. Verb offers software to large enterprises and small business sales teams that need affordable, easy-to-use, and quick-to-get-results sales tools. The company understands the importance of consumers' video interaction and incorporates into its software click-in-video capabilities that can help increase conversion rates and customer engagement.
Verb’s Product Portfolio
Verb is a sales enablement software company and these are its solutions:
verbCRM: Combines the capabilities of customer relationship management (CRM), lead generation, and content management, with clickable in-video, e-commerce capabilities in an intuitive, powerful tool for both inexperienced and highly-skilled sales professionals.
verbLIVE: is an interactive live stream e-commerce and video webinar application with clickable in-video shopping capability for consumers. It also provides real-time viewer engagement data and interaction analytics.
verbLIVE combines the best features of popular live streaming, like Instagram-live or a Zoom Video Communications Inc (NASDAQ: ZM) conference, with the capability for users to add what they want to a shopping cart and buy it on the spot.
verbLEARN: an interactive video-based learning management system (LMS) that incorporates all of the clickable in-video technology featured in the verbCRM application adapted for use by educators for video-based education.
verbTEAMS: a self-onboarding version of verbCRM with built-in verbLIVE and 1-click synchronization with Salesforce.
Corporate Developments
Verb is available in over 60 countries in mobile and desktop formats. It has grown its client base steadily, adding 16 new clients this quarter. Its recent additions include Market America | SHOP.com and Shaklee.
These significant results can be seen in the latest company’s report. Its third-quarter showed an almost 10% increase in Total Digital Revenue, a 16% increase in Total SaaS recurring revenue, and a 5% increase in Total Non-Digital revenue from the previous quarter.
In addition, the company recently launched verbTEAMS for solo entrepreneurs and small business CRM, and just completed the acquisition of SoloFire — a platform for health and life science sales enablement that offers immediate entry into the attractive medical sales market.
Another important development is the completed integration of the application verbLIVE, with the platform of enterprise CRM salesforce.com, inc. (NYSE: CRM).
“While our third-quarter results demonstrate the continued growth in adoption and deployment of our verbCRM application among large sales enterprises, verbLIVE — our interactive video-based livestream e-commerce and webinar product — continues to draw significant interest, setting the stage for what we expect will be explosive revenue growth throughout 2021,” said Rory J. Cutaia, CEO of Verb.
To learn more about Verb, click here.
Image courtesy of Verb
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