Manalto Ltd (ASX:MTL) has had its social media management tool, Sóshlr, accepted as part of AppDirect’s Developer Certification Program.
AppDirect’s partner network reaches more than 30 million businesses worldwide presenting an impressive market for Sóshlr.
The AppDirect certification program is designed to streamline the adoption and distribution of products in the AppDirect catalogue, including Sóshlr.
Sóshlr’s agreement also allows AppDirect to offer Sóshlr to channel partners directly, without requiring Sóshlr to enter into individual agreements with each channel partner.
Anthony Owen, CEO, commented: "The opportunity to now have AppDirect directly engage with channel partners with whom they work with daily, to sell and integrate Sóshlr, is great news for the company.
"It gives Manalto greater propensity to accelerate the reach and revenue growth of its Sóshlr product."
Manalto provides companies with software to manage social media, it has two products, Sóshlr and Enterprise Solution.
Manalto is headquartered in Washington, D.C. with offices in the Netherlands, Australia and South Africa.
Sóshlr is targeted at SMEs and Enterprise Solution is targeted at larger businesses.
Sóshlr and Enterprise Solution give customers an easy to use social media management solution.
This means businesses have greater control to coordinate brand management and marketing inside Facebook, Twitter, LinkedIn and Instagram from a single online dashboard.
Sóshlr is distributed exclusively via channel partners to SMEs and customers may purchase 1-50 licenses.
Enterprise Solution is sold directly to larger enterprises with customers purchasing 50+ licenses. The Company has plans to develop an Enterprise distribution channel to make available the solution through channel partners.
Revenue is generated through a subscription based model where customers pay a monthly fee depending on the numbers of licenses required.
Manalto recently acquired Hearis, a small Australia based social media management platform, which will grow its existing customer base and revenues in Australia.
Sóshlr offers a range of base packages and upsell paths. MSRP range between USD$36 and USD$3000 per customer per annum and final pricing is at partner discretion.
Manalto has plans to roll out new premium add-on features for its Sóshlr product that will add to the base license fees.
The certification for Sóshlr makes the social media management tool more accessible to potential customers and provides another opportunity for customers which leads to revenue.
Manalto remains leveraged to the high-growth social media industry and continues to expand the distribution and sales channels of its two social media products.
The company is in a growth phase with two established competitive products that it can sell through vendors, cloud platforms and resellers.
The opportunity for Manalto is to grow sales by growing its addressable market, which comes from continuing to sign distribution agreements.
Manalto estimates its total market opportunity to be more than US$200 million per annum in revenue.
News flow surrounding the signing of new clients and distribution agreements will act as catalysts for the stock.
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