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Opyl sees a surge in new services inquiries due to COVID-19; big pharma ad spend grows 20%

The company expects continued new client acquisition and to achieve neutral/positive cash flow by quarter one 2021.

Opyl Ltd - Opyl reports 20% increase in digital health marketing with surge in new enquiries
R&D is ongoing on the clinical trial recruitment platform and predictor tool

Opyl Ltd (ASX:OPL) is on track for its target of a cash neutral position in the next quarter after COVID-19 conditions have stimulated a surge in new services enquires.

The company has a sales pipeline of around $1.5-2 million in estimated value over August for its social media intelligence and digital solutions for healthcare marketing.

Marketing expenditure for healthcare and big pharma sits at US$3.62 billion for 2020 so far, increasing at 20% with more digital pharma ad spend.

First time digital accounts equal more than half of total expenditure in the market to date, and Opyl has experienced the rise in global biopharma and health clients delivering revenue, with three new client projects in the last 8 weeks in the sector.

Clinical trial recruitment

Around 86% of trials fail to meet recruitment targets within specified time periods, Opyl solves this issue with compliant, fast and accurate recruitment to clinical trials via social media as well as content design and community management to attract and retain participants.

A prime example is the clinical predictor tool implemented with Neuroscience Trials Australia with the objective to implement a full digital marketing communications strategic plan, where Opyl:

  • Developed and implemented a digital marketing comms strategic plan sustained over 3 years;
  • Positioned Neuroscience Trials Australia as a through leader in Australian clinical trials;
  • Positioned Neuroscience Trials Australia as a social media leader and influencer in global trials industry;
  • Used social media to attract trials, sponsors and participants, and;
  • Used social media to leverage scientific and medical conferences to drive sales.

The company achieved the following outcomes:

  • Neuroscience Trials Australia positioned as #1 in social media engagement in Australia and NZ in trial sector;
  • Built an engaged community of sponsors, trialists, clinicians and patient advocates, and;
  • Implementing social media as an integral asset in the business model.

Social media marketing

Notable work in social media marketing includes Opyl digital marketing communication stratgety and social media management plan for the Monash FODMAP app.

The objectives were to:

  • Increase app downloads and sales as well as awareness of IBS/FODMAP management;
  • Design and implement a 15 month social media marketing strategic plan;
  • Focus on social media advertising and digital display ads;
  • Retainer agreement that included content creation and community management;
  • Targeted Australian and EU countries iOS and Android devices;
  • Influencer strategy implemented amongst dieticians and educated wellness 'warriors', and;
  • Social media skills training for dieticians.

The key outcomes achieved were:  

  • #1 medical app in iTunes store in 96 countries;
  • Downloaded in over 120 countries;
  • Salles target hit on time and on budget;
  • Built a deeply engaged Facebook community of over 15,000 followers in 12 weeks (now at 88,000);
  • Majority of downloads (sales) referred from Facebook;
  • Built social media skills amongst linked dieticians, and;
  • Grew Opyl's skills in nutrition science and medical app sales.

R&D Pipeline

Opyl is focused on the research and development of the clinical trial recruitment and retention platform, which will empower patients to self-select for clinical trials.

The platform is a solution to the problem of inefficient, insufficient or failure to recruit patients to studies on time and on budget, capturing data on interested patients and using AI to link them to relevant trials.

The tool commenced development in May and is coupled with Opyl's current service offering in recruiting patients to trials via social media.

A clinical trial predictor tool is also being developed, using AI to interrogate previous trial designs, completion and failure characteristics and optimal recruitment/enrolment targets.

The tool is at stage 2 of 4 stages, having completed proof of concept and progressing to UX/UI design and reliability testing in stage 3 and progressing towards consulting/project revenue stage end 2020.  

Looking forwards, the company expects continued new client acquisition and to achieve neutral/positive cash flow by quarter one 2021.

Quick facts: Opyl Ltd

Price: 0.155 AUD

ASX:OPL
Market: ASX
Market Cap: $5.72 m
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