Verb Technology Company Inspire Action

For business growth and profitability, finding new customers is an ongoing imperative. But how do you connect with people in a pandemic? If you’re a retailer impacted by COVID-19 store closures and other restrictions, how do you showcase and sell your products? Sure, you can create a website or even an e-commerce website, but then what do you do – sit back and cross your fingers hoping customers find you on the world-wide-web and shop your website? Or maybe you’ll post ads on social media among the millions of others competing for viewers’ attention. That’s a recipe for failure.

Sales and marketing professionals now know that video is far more engaging than any other medium. They are now discovering that sales and marketing tools that include interactive video – clickable video – shoppable video – a video that allows interested viewers – prospects and customers – to click on screen, right in the video to purchase products and services - produces increases in conversion rates of between 600% and 1200%. Using these new sales tools, they can post clickable videos on social media sites, and they can distribute clickable, shoppable videos by text messages and even through email and drip campaigns to their customer lists. Users also get notified in real-time when a prospect watches their video. They are informed immediately on their mobile devices how long their prospects watched it, how many times they watched it and what they clicked on, so sales and marketing professionals know who is a hot lead and who isn’t. This capability allows them to focus their time much more efficiently and effectively and thereby increases their sales conversion rates. That next generation sales and marketing tool is now available for everyone out there and it’s called verbCRM!

VERB Technology Company, Inc. (NASDAQ: VERB) is rapidly emerging as the market leader in business-focused interactive video sales and marketing tools, including livestream ecommerce, CRM, and content management applications. With offices in California and Utah, USA, VERB provides next-generation software applications to sales-based organizations in more than 60 countries and 48 languages. The company’s proprietary, patented, and patent-pending technology platform produce realtime, measurable results with customers reporting greater than 600% increases in conversion rates. The company’s softwareas-a-service (SaaS) products are cloud-based, accessible on all mobile and desktop devices, and are available by subscription for individual and enterprise users. The company’s technology is also integrated into popular ERP, CRM, and marketing platforms.

Today, VERB clients and customers can up their game through livestream shoppable videos – in essence, and they can become their own QVC or Home Shopping Network, broadcasting live - right from their laptop or mobile device to all of their friends, fans, followers, clients, customers, and prospects. Viewers can join, watch, chat, and purchase products and services directly in the livestream on virtually any internet accessible device without having to download any special software or app. While watching the live broadcast, they can enjoy a fun, social environment and through a live on-screen chat, communicate directly with the host as well as with each other, and when their interest levels peak, they can click right in the livestream shoppable video and purchase the products and services they’re seeing. That’s the verbLIVE product.

“And that’s how our clients and customers are not only overcoming the challenges they faced through this pandemic – but it’s how they’re actually thriving through it,” says Rory J. Cutaia, Founder & CEO of VERB Technology Company.

Rory J. Cutaia founded Verb Technology in 2012 with the premise of connecting people remotely to the Hollywood entertainment industry. Initially, it was an entertainment industry focus, but early on, they did a pivot and pursued a leadership position in the burgeoning video-based sales software industry. “We were a sales enablement platform before that term even existed,” says Cutaia.

" Our business mantra has always been to focus on where we believed the market would go next, as opposed to where it was, so we developed interactive video, allowing the rapidly growing audience of video viewers to click on screen, right in the video, to respond to the video creator’s call to action and eliminate friction from the sales process "

“Our business model is derived from the early recognition of two important principles that drove our development initiatives. First, we recognized that the convenience of Jeff Bezos’ one-click purchase capability on Amazon was massively successful because it minimized friction from the buying process.” Accordingly, Cutaia knew they needed to focus their product and development efforts on a user experience that incorporated that capability. As technology evolved, personal and social behavior evolved. The advent of social media, mobile devices, and always-on access to all of the information in the world literally in the palm of your hand helped foster a new generation of creators and influencers leveraging the power of video. “Second, we recognized quickly that fewer and fewer people wanted to read in order to consume information.”

As usage data emerged, it became evident that people preferred to consume and share information through videos. “We recognized that sales platforms that relied solely on written communications would be marginalized in favor of those that utilized video in their sales and marketing messaging,” he adds. “Our business mantra has always been to focus on where we believed the market would go next, as opposed to where it was, so we developed interactive video, allowing the growing audience of video viewers to click on screen, right in the video to respond to the video creator’s call to action, as and when their interest levels peaked and eliminate friction from the sales process.”

Combining that technology with easy-to-use, yet effective CRM capability became the company’s verbCRM application – making it simple and even fun for sales reps to add interactive buttons – such as “buy it now” to their sales and product videos, which they could then share easily from their mobile devices through email, text messaging or even by posting directly to social media.

“As we continued to look ahead, we recognized that the natural evolution of that technology would be to create that same frictionless selling experience in a livestream environment - especially as we began to see the massive proliferation of live webinars and other video conferencing solutions being adopted for sales purposes,” explains Cutaia. “And so began our quest to develop what is now known as our new verbLIVE application which allows anyone to add those same interactive, clickable buttons to livestream, live broadcast videos. Think of a combination of Zoom and Shopify. We believe this application, and the extended uses we intend to bring to market this year will potentially be the biggest value creators for ourselves and our shareholders.”

Cutaia adds, “We’re also adding that capability and functionality into the apps of some of the larger incumbent players in the space – such as Salesforce – which we recently released, and Microsoft Outlook, which we expect to release commercially in the first half of this year. We expect to see other large scale partnership plays announced this year.” The platform is particularly effective for remote selling – which is one of the reasons they continued to enjoy meaningful growth over the past year despite the social distancing pandemic. As such, it is the tool of choice for large, sales-based enterprises that sell through a global team of remote sales reps. One industry that utilizes that sales model is direct selling. This is an industry that, by some estimates, is as large as $200B.

MONAT is a great example, though VERB already has more than 100 other large scale direct selling enterprise clients. MONAT is a premium hair care brand that is focused on naturallybased products. One of MONAT’s sales teams’ biggest challenges is determining how to best present the true value and quality of their products through social media. Images and short videos just weren’t cutting it. Their followers and prospects still had questions about the products and required quick responses. With verbLIVE, MONAT is able to demonstrate exactly how their products work on users’ hair and respond to viewers’ inquiries in real-time. Potential customers can ask questions about each product and get their answers immediately during the presentation. This leads to elevated interest and higher conversion rates.

VERB has had over 1.7M downloads of their applications by users in that sector, many of whom are based and sell outside of the United States. Their platform was recently named #1 by Social Selling News, a respected direct selling industry publication, in an article ranking the most popular direct selling apps. “The article stated that we are approximately 3-times larger than the second closest would-be competitor. That demonstrates our dramatic growth over the past two years which we expect will accelerate,” says Cutaia. “In addition, last year we launched local VERB operations in Japan which continues to gain traction while we explore local native language offices in other countries.”

VERB’s competitive advantage is they are not starting from ground zero trying to find an audience for their marketing messaging or a user base for their products. “As an example, as we now launch verbLIVE, we are offering it directly to our existing user base by sending a push notification to their mobile devices notifying them that we’ve just made verbLIVE available to them on their device through an app update making it easy to upgrade their existing app subscriptions,” explains Cutaia. “Moreover, the very use of verbLIVE by our customers exposes the technology to exponentially more people who attend our customers’ verbLIVE events. This is the viral factor that drives adoption rates that many software platforms do not possess.”

According to Cutaia, “we see the beginning of a convergence of pure entertainment content and e-commerce – we call it shoppable entertainment, and we intend to release a groundbreaking platform that will both define this new sector and dominate it. Stay tuned. There is more to come,” he says. [NASDAQ: VERB]