Family Insights Group Limited (ASX: FAM) announced about its operational update and a significant improvement in its parental device platform FI (family insights), where completion rates have increased to 95% from 28%.
Its marketing cost per download has been optimised and has now come within A$10 per install from December 2018 to January 2019 period. FAM has started the process of technical merger of the Frugal IP. Mr Quinton Meyers is the new Company Secretary.
Family Insights Group provides insight products and data-driven solutions to its users. Its flagship product, “Family Insights” utilizes advanced behavioural analysis to inform Parents about their children’s online habits, to ensure the safety of the children. It uses insights from the research done by childhood development research organisations, and in a real-time basis it monitors mobile network patterns and informs parents in case of any threat. The company was founded in 2001 under the name of Wangle Technologies Limited and is headquartered in Australia.
Family Insights parental control solution provides parents goals to develop better digital skills along with children by using real-time behavioural monitoring of children’s network behaviours along with research-backed advise and educational materials. Its GPS tracking feature of children provides alerts in case of their movement away from designated areas.
The customer experience of Family Insights has got better with time. The earlier version of FI platform received a blank response from the users. Due to its complexities, many parents left the configuration in between of the installation. To address the concern, the company invested in fixing the bug and enhancing the user experience. Its current version is highly user-friendly and comes with simple 3 steps per device for the parents. Its drop- out rate has significantly reduced from 72% in January 2018 to merely 5% in January 2019.
Its recent optimisation in its automated reminder system in child device configuration improved to 19% from 3% within the first week, and they anticipate more improvements in the optimisation. The major changes in its affiliate tracking capability will help it to reduce its operating cost significantly.
FAM’s Appstore optimisation and performance marketing had enabled it to reduce cost per download from $22.06 to $8.99, with further good scope for improvement. Its marketing strategy involved the launch of cyber security instruction guidelines for its users which it named as “The Parents Survival Guide to Children, Technology & The Internet.” This launch generated interest in charity bodies, students, schools, and organisations with Corporate Responsibility Agendas. Its global sales in the form of e-books with its channel partners such as Amazon Kindle and Apple iBookstore has given a good boost to its expansion plans for the later part of the year.
On stock information, FAM last traded at A$0.001 (as on February 4, 2019) with the market capitalisation of circa A$2.08 billion. Its EPS for FY18 was -0.006 AUD. Its 52 weeks high has been noted at A$0.01. Its absolute return for 3 months, 1 year and 5 years are -60%, -87.50% and -93.75% respectively.
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