VANCOUVER, BC, CANADA – Snipp Interactive Inc. (“Snipp””) (TSX-V: SPN; OTCPK: SNIPF), a global provider of digital marketing promotions, rebates and loyalty solutions, launches multiple pilot programs across diverse industries and geographies as well as engaging in late stage discussions with multiple utility companies.
- Snipp has launched the 3rd phase of a receipt validation program for a leading baby care product company. The first phase of this program was initiated earlier this year on a small sample of US retailers. After hitting the required performance milestones despite the pandemic, the program has been extended across the entire US market. Snipp’s client is a global Fortune 50 consumer packaged goods (“CPG”) company with over $70B USD in revenue across 65 unique brands in 10 product categories. Even though revenues for Snipp from multiple brands within this company crossed $2MM USD over the last three years, Snipp did not have a direct relationship with the company and was subcontracted via different agencies. With the success of this program the company extended a direct contracting relationship to Snipp which resulted in the Snipp platform being selected for the launch of a similar program in the Indian subcontinent earlier this month and the opening up of discussions with its global team for its roll out into selected European, Middle East and Asian markets in 2021.
- Snipp completed multiple pilots for different aspects of the Snipp platform for one of the top five global research firms – a new industry in which Snipp has not historically worked in. The first pilot was completed successfully in France for a global QSR client of the research firm. Snipp powered the data collection from shopper panels via its receipt validation engine. Subsequently a second data collection program was piloted in the US market for a leading Swiss multinational food and drink processing conglomerate client of the research firm. A third pilot was initiated in Columbia for an American multinational cigarette and tobacco manufacturing company. In this pilot the client implemented Snipp’s reward engine for the distribution of incentives to panelists. Having successfully completed these pilots, Snipp is currently in discussions with the firm for the roll out of both its receipt validation and rewards engine in 2021 across the research firm’s clients.
- Snipp is in late stage discussions with three US based utility companies that operate across four US states, for the deployment of incentive-based programs. Snipp was invited to participate in these competitive bids on the strength and reputation of the Snipp Platform and Snipp’s expertise in running consumer promotions. Snipp is competing against a select short listed group of companies for these programs many of whom Snipp is also now in partnership discussions with, after being noticed as an invitee to these competitive bids. The value of these programs is typically in multiple seven figures annually.
“The total market value of potential long-term contracts coming from any one of the above initiatives would be transformative to Snipp and its shareholders, should these pioneering programs scale across the organizations/territories we are working within. We are extremely encouraged by the performance of these programs, the multi-language capabilities of our platform and most importantly we are optimistic about the discussions we are having in these diverse industries. These initiatives represent a sample of the seeds we have planted to build our growth engine for 2021 and beyond” said Atul Sabharwal, Founder & CEO.
About Snipp:
Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners.
Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the Toronto Stock Venture Exchange (TSX-V) in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.
FOR FURTHER INFORMATION PLEASE CONTACT:
Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
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