- Commercial results from the first quarter reflect our free-trial centric strategy, and ongoing focus on optimisation
- We saw strong results from our optimisation program in April, with more jobs, more applications and conversions from free trials to paid subscriptions
- Supporting our enterprise rollout strategy we've appointed senior sales leaders and an impressive advisory board of paying customers
Transcript of the April update
Welcome shareholders to the April 2017 Gooroo Ventures shareholder update.
There are four things I'd like to cover off with you today.
- I'd like to touch on our 4C report from the first quarter.
- I'd like to cover the key learnings that we've taken from that first quarter.
- The results that we're seeing in April.
- Our enterprise roll-out strategy that we're now putting in place.
Our results for the first quarter reflect three things:
- First, our late January launch and free trial strategy. As I'll explain later in this update, we decided to extend the free trials for the majority of customers in this quarter.
- Second, most of the commercial activity that occurred during the first quarter was the result of clients using their free credits.
- And thirdly, tying it back to the prospectus and our commercial launch strategy, it has always been our intention in the first quarter to focus on the small to medium enterprise sector so that we can learn and optimise the platform and refine our commercial strategy.
Learnings from Q1
I'd now like to share with you some of our key lessons and learnings from the first quarter.
One big and exciting takeaway is that our technology is world leading. Our matching system and our analytics platform are seeing great engagement, and customers are loving it.
But at the same time what we've observed is that customers need longer time to get a full appreciation of the power that sits within the Gooroo platform. And it is for this reason we've extended the trial period as I alluded to earlier in the report.
What we also saw over Q1 is that larger clients receive even more value from our tools because of the volume of jobs that they're putting through the platform.
In addition what we have seen with these enterprise clients is that they attribute significant value to our market intelligence tools, and the way that that they could apply our matching algorithms to their selection processes.
I'd now like to share with you some of the results that we've achieved in April:
- Firstly, we've hit a key milestone, we've had 500 jobs published on the platform with more jobs being added every day.
- Secondly, candidates are applying at a greater rate than what they have done in the past, in fact up 40%.
- Thirdly, the rate of applications that are being accepted by hirers is up 100% from the February and March averages.
- Finally and importantly what we're seeing from the optimisation program is that our free trials are now actively converting into paid subscriptions.
Enterprise rollout strategy
And finally as discussed we're now placing more of our attention on these tier one enterprise customers. We have two senior sales leaders joining us in May, Michael Walmsley and James Burns. Both James and Michael have extensive experience selling to the top end of town across Australia and Asia Pacific.
Supporting this we have also appointed a customer advisory board. The customers on this panel include Readify which is part of Telstra, Dentsu Aegis, Randstad and Hudson. All customers on our advisory board are required to be paying customers.
That's all for this month, thanks for all your support and I'll see you next month.
Please note that this transcript has been edited slightly for readability.
Investor & media enquiries
Mr Peter Nesveda
Corporate Affairs & International Investor Relations, Intuitive Pty Ltd
Tel: +61 3 9504 8420, Mob: +61 (0) 412 357 375
Email: [email protected]