Did you all catch this last night ?:
24/7 Real Media Announces Recent Wins Across All Divisions-iPromotions,Email, Network, Website Results and Open AdStream Technology Sales Divisions AllEnjoy Competitive Successes
NEW YORK, Feb 21, 2002 (BUSINESS WIRE) -- 24/7 Real Media, Inc. (Nasdaq: TFSM), a leader in interactive marketing, today announced recent contract wins from all its business units, highlighting a strong beginning to 2002.
Dynamically emerging from the successful completion of its merger and restructuring, 24/7 Real Media's enhanced focus is producing successes and cross selling among its divisions. Combined with the ongoing expense reduction program, these and other contract wins are driving the Company toward profitability, which is projected for Q4 02.
iPromotions Division Garners $850K in Contracts from Education Sector
24/7 Real Media's iPromotions division, the industry's online leader in designing, hosting, managing and maintaining customized online incentive marketing programs, announced $850K in new business from multiple traditional-media brands and numerous long-term renewals in the education sector. As undergraduate admissions become more competitive, colleges and universities are working with iPromotions to design online campaigns that complement their offline efforts and enable them to learn more about prospective students during the recruitment process through one-on-one relationships.
"Many schools are using CRM-type strategies in their undergraduate recruitment process," said Bryan Heathman, 24/7 Real Media's Vice President for the iPromotions division. "Since students are among the most Web-savvy of all audiences, a well-run online campaign can generate response rates of 20 percent or more. And we're running many campaigns that far exceed this figure."
24/7 Mail Alliance Grows 20 Percent with Branded Contribution
24/7 Real Media's email division, which plans, brokers, and implements hundreds of campaigns a year, announced a new addition to the 24/7 Mail Alliance, its email division. Already among the Web's largest list brokers and managers, with more than 35 million opt-in names, the 24/7 Mail Alliance added more than six million new names.
"Our focus on branded lists continually generates better results," said Will Tifft, Senior Vice President of 24/7 Real Media's email division. "The opt-in model makes sense when affiliation with brands that consumers recognize makes satisfied advertisers continually renew with us."
Network Gains New, Branded Sites for Proprietary Content Channels
A key contributor to the successful integration of 24/7 Media and Real Media is the successful migration of 24/7 Connect users on 24/7 Media's Network to the Open AdStream platform, resulting in long-term costs efficiencies that far outpace initial projections. The Company is also distilling its Network to higher-revenue, higher-margin sites. Three examples of these new additions are Yellowpages.com, which is a Website Results customer, Expedia.ca, which was brought on by 24/7 Canada, and Hollywood Stock Exchange (www.hsx.com). These sites each add clearly defined user sets and more sustainable selling opportunities to the Network. Hollywood Stock Exchange also became an Open AdStream customer, joining Yellowpages.com as examples of the cross selling that 24/7 Real Media's suite of solutions can enable for advertisers and publishers.
