Renoworks improved platform uses A.I. -powered design and data insights to drive qualified remodeling leads to building product manufacturer.
CALGARY, AB, April 28, 2022 – Renoworks Software Inc. (TSXV: RW) (“Renoworks” or “the Company”), the leading end-to-end visualization and lead generating platform for the home renovation and new home construction industry, announces significant lead generation results with a top building product manufacturer partner. Based on the deployment of new lead generation platform improvements powered by the combination of A.I.-powered visualization and data science insights, the Company increased lead generation rates up to 1300%, allowing the manufacturer to capture qualified homeowners to promote and sell goods to.
Delivering Value-Driven Results with A.I. and Data Insights
Traditionally, building material manufacturers had limited ability to generate highly qualified remodeling project leads, relying instead on their dealer and preferred contractor networks to generate product sales. Manufacturers in other industries have solved this challenge by leveraging technology to better reach their end consumer and support their channel partners. However, the building material industry has lagged in this regard.
Renoworks solves this problem for the manufacturer by providing it with artificial intelligence-driven visualization technology and data insights to engage end-consumers, reduce drop-off, and capture lead information from project-ready homeowners. The manufacturer can now pass qualified leads to its distribution and contractor partners to convert into sales opportunities.
Consumers are more willing to give permission to be marketed to on a Renoworks visualizer because they are aware of the immediate value. Working with key manufacturer partners, the Company has demonstrated improvements to opt-in rates when the consumer is offered an A.I.-generated design of their home featuring the manufacturer’s building products.
Beyond providing building material manufacturers an appealing and efficient lead acquisition method, Renoworks’ AI-powered design visualization solution has equal application to companies further down the value chain such as distributors, dealers, and contractors.
“Renoworks has shown it can compete against traditional marketing methods by offering homeowners an instantaneous and clear picture of their home remodeling projects before the work begins in exchange for their contact information and data,” said Renoworks’ CEO Doug Vickerson. “By innovating our technology and analyzing the data we collect, we are continually improving the platform to increase lead generation and product sales for our customers.”
Renoworks’ platform improvements that include these technologies and data science offerings will be generally available in the coming months.
To read more about Renoworks latest data science solutions, visit: www.renoworks.com
Renoworks Software Inc. develops and sells unique digital visualization software and integration solutions for the remodeling and new home construction industry. Renoworks delivers its technology to manufacturers, contractors, builders, and retailers offering solutions to one of the home improvement industry’s greatest challenges: enabling homeowners to review their product selections in a hyper-realistic, virtual environment before committing to purchases and construction. Renoworks markets its technologies as an innovative engagement, sales, and marketing platform and generates revenues from five main business lines: Renoworks Enterprise, Renoworks PRO, Renoworks Design Services, Renoworks FastTrack, and Renoworks API (Application Programming Interface). For more information, visit www.renoworks.com and www.renoworkspro.com.
For further information on Renoworks, please contact:
Doug Vickerson, CEO
Renoworks Software Inc.
2721 Hopewell Place NE
Calgary, Alberta, Canada T1Y 7J7
Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from the information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
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