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Overview of Snipp Interactive Inc.
Snipp Interactive Inc. (SNIPF) is a global Platform-as-a-Service (PaaS) company specializing in digital marketing promotions, loyalty programs, receipt-based purchase validation, and data analytics. Operating under a unified marketing technology platform, Snipp offers an integrated ecosystem designed to help brands engage consumers and drive measurable sales. Through its comprehensive suite of solutions, Snipp combines shopper marketing promotions, loyalty, rewards, rebates, and advanced analytics to generate unique insights and deliver disruptive engagement experiences.
Integrated Platform and Core Modules
The heart of Snipp’s offering is its proprietary SnippCARE platform, which provides clients with flexibility to design and execute both long-term and short-term programs. Key modules include:
- SnippCHECK: A market-leading receipt processing engine that validates purchases and underpins receipt-based promotions with robust data capture and analytics.
- SnippLOYALTY: A unified loyalty solution that enables consumer packaged goods (CPG) brands to deploy customized loyalty programs tailored to drive customer retention.
- SnippREWARDS: Offering a dynamic catalogue of digital and physical incentives, this module provides seamless access to rewards worldwide.
- SnippWIN: A gaming module addressing the challenges of running legally compliant games of chance and skill, pivotal for consumer engagement in regulated environments.
Advanced Technologies and Innovation
Snipp leverages cutting-edge technologies such as artificial intelligence, machine learning, and real-time data analytics to enhance operational efficiency and improve fraud detection in promotions. The platform’s advanced algorithms support the detection and prevention of fraudulent activities in receipt-based and loyalty programs, setting a high standard in data integrity and consumer trust. This strategic integration of AI aids in predicting trends and optimizing customer engagement, making Snipp’s solutions highly adaptive in a fast-changing digital landscape.
Market Position and Global Reach
Positioned at the crossroads of technology and marketing, Snipp serves a global clientele that includes Fortune 1000 companies, leading agencies, and strategic partners. Headquartered in Vancouver with additional offices in key regions such as the United States, Canada, Europe, and India, the company successfully navigates diverse markets and complex regulatory landscapes. Its extensive experience in handling global loyalty schemes, robust promotional solutions, and data-driven insights underscores its strategic significance in today’s competitive marketing environment.
Business Model and Operational Excellence
Snipp’s business model centers on providing a flexible, scalable, and integrated technology platform that serves multiple industry sectors. Revenue is derived from subscription fees, licensing agreements, and service contracts that allow clients to customize their engagement programs. This model not only facilitates long-term client relationships but also fosters continuous innovation and refined targeting based on enriched consumer data. The company’s operational excellence is further demonstrated by its capacity to manage high-complexity projects for some of the world’s most influential brands.
Client Engagement and Data Analytics
With its robust platform, Snipp continually captures and analyzes zero party data – information willingly provided by consumers – to offer actionable insights that drive sales and optimize promotional strategies. The ability to generate consumer insights in real time enables clients to tailor marketing campaigns more precisely, achieve higher conversion rates, and build stronger customer relationships while ensuring compliance and security throughout the data lifecycle.
Industry Expertise and Thought Leadership
Snipp is recognized for its deep industry expertise and thought leadership in the loyalty and promotions space. The company’s continual innovation in shopper marketing, combined with its strategic use of advanced technology, positions it as a source of reliable insights within a dynamic market. By consistently demonstrating operational agility and a proactive approach to market challenges, Snipp stands as a trusted partner for global brands seeking to navigate the complexities of customer engagement in today’s digital era.
Conclusion
In summary, Snipp Interactive Inc. is a comprehensive marketing technology provider that marries innovative digital promotions with sophisticated data analytics and AI-driven solutions. Its integrated platform enables streamlined execution of multi-faceted loyalty programs and promotional campaigns on a global scale. With a proven record of aligning client objectives with tangible sales enhancements, Snipp maintains a balanced approach to operational excellence and strategic growth in the competitive landscape.
Snipp Interactive Inc. (OTC PINK: SNIPF) reported Q3 2022 revenue of $7.94 million, a 47% increase from Q3 2021. Year-to-date revenue rose 60% to $17.62 million. Despite positive EBITDA of $280,540, down from $480,587 in the prior year, the gross margin fell to 34% from 39%. Bookings backlog increased 32% to $12.4 million. The Gambit Rewards platform now contributes 29% of revenue, up from 14% in the previous quarter. The company anticipates continued growth but notes margin pressures due to reinvestments in Gambit.
Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) will announce its fiscal 2022 third-quarter financial results on November 29, 2022, before market opening. The management will also conduct a conference call at 9:00 AM ET on the same day to discuss these results. Snipp, based in Vancouver, specializes in digital marketing promotions and loyalty solutions, utilizing its SnippCARE Platform to enhance customer engagement for Fortune 500 clients. The company is positioned in North America and has a comprehensive suite of tools including SnippCHECK and SnippLOYALTY.
Snipp Interactive Inc. (TSXV:SPN, OTC PINK:SNIPF) has expanded its partnership with a prominent global producer of cereal and convenience foods to include the European market. The company has licensed its SnippCARE platform for deployment in Germany, with initial launches anticipated soon. To date, total billings with this client have surpassed US $2.5 million. CEO Atul Sabharwal expressed optimism about further global market penetration, leveraging valuable data generated from North American operations.
Snipp Interactive Inc. (TSX-V:SPN, OTC PINK:SNIPF) announced its preliminary financial results for Q3 2022, marking the highest quarterly revenue in its history. Revenue is forecast to exceed $7.5 million, representing a remarkable 45% increase from Q3 2021. The company has maintained positive EBITDA for eleven consecutive quarters. Revenue for the first nine months of 2022 is projected to be over 55% higher than the same period in 2021. Snipp ended the quarter with over $5.5 million in cash, remaining debt-free.
Gambit Rewards, Inc. is expanding its partnership with Prodege, LLC to include Gambit gift cards in the consumer rewards programs MyPoints and InboxDollars. This follows the success of its collaboration with Swagbucks, which has seen over $10 million in Gambit gift card redemptions. Gambit specializes in free-to-play sports betting and iGaming gift cards. The company aims to tap into the significant market of unused loyalty points, which is estimated at US $100 billion. Gambit operates in 48 states and allows users to convert loyalty points into gaming tokens.
Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) has announced a USD 2 million renewal agreement with a leading American beverage company, facilitated by a top global research firm. This follows a year of successful deployment of the SnippREWARDS platform across nine countries, with further expansions planned. The SnippREWARDS platform is part of the broader SnippCARE Platform, designed for customer engagement and loyalty. Snipp has a robust rewards catalogue available globally, emphasizing its position as a leader in promotional solutions.
Snipp Interactive reported a remarkable 81% revenue growth for Q2 2022, amounting to $5,475,186 compared to $3,020,274 in Q2 2021. This marks the tenth consecutive quarter of positive EBITDA, although EBITDA decreased to $119,407 from $460,254 year-over-year. Gross margin dropped to 40% from 73% primarily due to the re-launch of the Gambit Rewards platform, which contributed 14% to total Q2 revenue. The company remains debt-free with around $7 million in cash and a bookings backlog of $11 million, reflecting a 16% increase year-over-year.
Snipp Interactive has announced the integration of personalized children's books from Manimal Tales into its Snipp Rewards platform. This partnership aims to enhance brand loyalty by offering unique rewards that resonate with children and parents. Customers can now create personalized books through purchase-based or loyalty programs, selecting from various titles or uploading personal photos. This innovative approach is expected to differentiate brands in a competitive marketplace and drive deeper customer engagement. Snipp's platform continues to evolve, catering to the needs of its clients.
Gambit Rewards partners with Scuti to allow players to convert Scuti$ into Gambit tokens for risk-free betting on sports and iGaming. Players can shop on Scuti's marketplace and use Scuti$ earned (up to 5% of purchases) to make bets without personal expenditure. Gambit aims to enhance the gaming experience by integrating consumer rewards with online gaming. The collaboration is seen as a significant move in gCommerce, facilitating player engagement through play-to-earn models.
Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) has appointed Tom Treanor as its first Chief Marketing Officer. Treanor, an experienced marketing executive from the SaaS industry, previously served as CMO at Treasure Data, where he played a key role in the customer data platform sector. His expertise in first-party data strategies is expected to enhance Snipp's growth as it focuses on consumer engagement and loyalty. The company granted 3,000,000 stock options to Treanor, vesting over three years. This leadership change aims to bolster Snipp's innovative marketing approach.
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