Campgrounds and bundt partnerships key in growth for ShareRoot
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Social media marketing platform ShareRoot today announced a partnership with the world’s largest system of private campgrounds, the latest in a string of contracts driving growth for the company.
Under the agreement, ShareRoot will provide Kampgrounds of America (KOA) with access to its user-generated content platform to leverage social media content for its own purposes.
Shares in the company (ASX:SRO) were up 20 per cent on the news, at 0.6c.
The latest announcement follows contract renewals with two agency partners, as well as a new win with North American bakery franchise Nothing Bundt Cakes.
“2018 is showing continued growth for the company and we’re continuing to explore ways to broaden our UGC platform and service offering to customers and consumers to ensure our sales pipeline continues to strengthen,” chief Noah Abelson told the market.
Its platform allows clients to search for their desired content across a range of social media channels, then request and obtain legal permission for the full legal rights to use it in their own marketing campaigns.
According to SRO, the social network advertising is forecast to grow into a US$17 billion per year marketing sector with a 18 per cent compound annual growth rate to 2019.
Already, it estimates that 65 per cent of users seek out user generated content before making a purchase.
At the end of last year ShareRoot introduced a digital marketing protection platform called MediaConsent, to help companies and individuals comply with digital marketing laws.
It reported $52,000 in receipts for the last quarter and had $343,000 left in the bank at the end of the period, followed by a $2.8 million raise to increase partnerships announced in January.