- SHRG’s Elepreneurs subsidiary uses platform from Verb Technology for launch in United States; Canadian unveil to follow
- Five-star interactive sales marketing tool designed to help Elepreneurs build on sales gains
- For Q1 2019, SHRG achieved revenues of $35.4 million, more than double that of comparable period in 2018
Sharing Services Global Corporation’s (OTCQB: SHRG) Elepreneurs subsidiary has employed an interactive, video-based platform from VERB Technology Inc. to help it continue its significant sales growth in the direct-selling market. The company’s Elepreneurs, or independent sales force, is currently using the VERB platform in the United States, with plans to launch the platform soon in Canada (http://ibn.fm/Myltq).
The business-focused, customer relationship management (CRM), sales-enablement, proprietary platform from VERB received hundreds of five-star reviews on the Apple App Store and Google Play Store in just the first few weeks of use. The new VERB sales and marketing app offers sampling and interactive video features that support Elepreneurs’ company objectives.
“As Elepreneurs continue their North American expansion efforts, we expect to see our per-user licensed products scale in-line with that growth,” Nick Hoggan, VERB’s chief revenue officer, stated in a news release. “Additionally, with support provided by our back-end integration and interactive video features, we can ensure that Elepreneurs has the proper infrastructure that has already helped so many other companies grow their digital capabilities.”
SHRG credits its growth to the success of Elepreneurs employing a Blue Ocean selling strategy in the direct-sales market (http://ibn.fm/up2Ln). For Q1 2019, the three months ending July 31, SHRG achieved revenues of $35.4 million, more than double that of the comparable period in 2018 (http://ibn.fm/Eu1kw). In a 10-K SEC filing, SHRG reported record sales of $85.9 million for its fiscal year ended April 30, 2019 (http://ibn.fm/S6xaA). This represents a nine-fold increase, or a $77.5 million jump from revenues of $8.4 million the prior year.
The Blue Ocean Strategy is an approach to selling that makes the competition irrelevant by operating in and creating an uncontested market space. Strategy execution calls for exceeding expectations. The strategy stems from the book Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne. “Our Q1 revenues demonstrate that our Blue Ocean Strategy has taken root and continues to grow in the direct-selling marketplace,” added SHRG CEO John “JT” Thatch.
In addition, the company has announced global expansion plans, which it will continue to implement throughout 2019. “We continue at a record-breaking pace as our dedicated and highly talented Elepreneurs continue to execute on the mission to change the direct-selling industry with best-in-class products and services,” Thatch continued (http://ibn.fm/2NB9h).
The launch of SHRG’s proprietary line of health and wellness products in December 2017 through its Elepreneurs and Elevacity Global subsidiaries was a company milestone. The line consists of three sectors: anti-aging skin care, functional beverages, and natural supplements. All are based on the D.O.S.E. product formulation of four hormones designed to promote happiness and well-being (http://ibn.fm/MCnAG). SHRG has generated $129 million in cumulative sales since the product launch.
SHRG is a Plano, Texas-based diversified holdings company that owns, operates or controls a variety of companies engaged in direct selling through independent sales contractors. The company also offers services such as energy, technology and insurance.
For more information, visit the company’s website at www.SHRGInc.com
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG