Information technology company, OpenDNA Limited (ASX: OPN) is a fully-integrated e-Commerce, digital marketing and customer acquisition services company powered by its OpenDNA hyper-personalisation Artificial Intelligence (AI) System, helping its clients to boost online sales of their products and services, particularly those companies that have Australia and China-focussed sales strategies.
e-Commerce businesses must sift through Big Data to elevate their online presence and promote products and services up to the customers’ expectations. OpenDNA comes as a saviour in the sense that it helps companies in collection and processing of data in real time such that hyper relevant insights can be derived for customer acquisition, along with improvement in online traffic and sales.
China accounts for large tourist traffic into Australia and according to a forecast, the online shoppers in China are estimated to increase to more than 1 billion in 2019 from 587 million in 2018. In China, around 76% of consumers currently use their smartphones to shop online plus the e-commerce industry has a strong government support in the nation. OpenDNA is especially focussed on opportunities in high-demand market segments such as tourism, Skincare, Supplements, Vitamins, Minerals, Health & Wellbeing as well as AI in China.
The company’s RooLife e-Commerce platform is focussed on matching Australian businesses with the extravagant and expanding Chinese consumer base through a uniquely streamlined business model that is innovative, cost-effective and hassle-free including no requirement for capital, brand protection in China, safe intuitive platform along with market tested & product-specific advice.
How Does it work?
How can the e-commerce businesses benefit and generate better return on investment (ROI) through focussed user engagement as being offered by OpenDNA?
Let’s look at the key advantages of using OpenDNA.
- The three R’s: Real Time Insights. Relevant Profiling. Revolutionary Results.
OpenDNA builds unique psychographic profiles through a compilation of targeted and hyper-relevant information which allows the company to retarget its audience with the content they want in the context of the product being offered. Thereafter, these profiles are used for analytics sectors, video-on-demand, image analysis, smart integration with ad-tech, business intelligence and more.
The client can also automate their content and ads in real time, with no manual changes required, to engage with their audience.
- Improvement in users’ dwell-time, click-throughs, as well as ad and subscription revenues
In the current times, digital engagement is at an inflection point wherein massive amounts of data, sources and devices have driven categorisation of end-users, but has not yet understood the end-user as a unique individual.
OpenDNA changes this and helps the companies and brands to understand their customers down to an individual, thus driving deeper, informed relationships, delivering, in turn, better business outcomes for the brand or publisher.
Source: Company’s Website
The last one year saw OpenDNA developing and launching its e-Commerce AI Recommendation Engine, Daishu, that is also deployed in the RooLife e-Commerce platform. The company acquired RooLife Limited, CHOOSE Digital Pty Ltd in December 2018, Blackglass Pty Ltd in April 2019, which followed the integration of its AI system into the products and services provided by these companies.
During the quarter ended 30 September 2019, OPN’s major business developments included a partnership executed with Perth Airport (early August 2019) to implement the Perth Airport RooLife Online Shopping platform targeting Chinese travellers in China and Australia. The platform launch is scheduled for November 2019 and the shoppers would be able to process payments via WeChat Pay and Alipay mobile payment gateways.
Recently in October 2019, OpenDNA’s Digital Marketing company CHOOSE Digital was appointed as e digital partner by the National Breast Cancer Foundation (NBCF) to drive-
- Awareness & Perception of the NBCF Brand.
- Community engagement (awareness of What, How & Why).
This appointment of CHOOSE Digital marked a strong endorsement of the company’s digital marketing capabilities and comes on the back of its demonstrated digital marketing performance for NBCF, over the past 12 months, in having driven online engagement and helped increased online revenues by +30%. The appointment of CHOOSE Digital is expected to materially contribute to OPN’s revenue this financial year. The company’s sales receipts for the financial year ended 30 June 2019 rose by 320% from Q1 to Q2, 300% from Q2 to Q3 and increased by approximately 350% during Q3 to Q4. The revenue for FY19 totalled around AUD 705,630, climbing up by more than AUD 118,739 posted for FY18. A dedicated distributor, QEdge, was also appointed in China.
Other developments from the last September 2019 quarter include the proposed acquisition of QBID (Quality Brands International Direct) and the WeChat and Alipay Payments Deal with Lobster Shack, a Western Australia’s tourist destination.
With growing business momentum, OpenDNA is looking forward to the busy festive and tourist period during December 2019 when there is an upsurge in demand from the shoppers. Moreover, with the new direct flights commencing from Shanghai to Perth in January 2020, the number of Chinese travellers is expected to shoot up, followed by the peak Chinese New Year travel period.
Stock Performance: OPN’s market cap is ~AUD 10.63 million with ~272.5 million shares outstanding. With the close of trading on 18 November 2019, the OPN stock quoted AUD 0.041, edging up 5.12% by AUD 0.002. OPN has delivered positive returns of 34.48% in the last one year, 11.43% YTD and 2.63% in the last six months.
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