Tecogen experiences strong Q1 growth with focus on expanding into new markets
From Investing.com: 2024-05-13 04:27:04
ing in on closing between 30 and 50 service agreements in the coming weeks. Our intent is to grow service revenue and cash flow by 20% this year. We’ve developed scalable advertising strategies to generate consistent leads utilizing online marketing rather than just relying on trade shows, where we’re competing with every other exhibitor’s flashing signs. Accordingly, we’ve been building out our online marketing campaigns to target customers in multiple segments like trade, technology, and education. As we grow these campaigns, we have been accumulating data that should help us optimize our marketing spend. For example, spending wisely on direct mail in the beginning has led to a 20% response rate on those initial mailings. Per our directives, our intent is to launch a campaign this week whereby we’ll experience a 30% response from an audience that visits our site based on recent data collected from our current campaigns. As of now we have a 7% response rate on those direct mail pieces that have gotten to the intended recipients. We’re soon targeting customers in three segments-tech, trades, and education-using this data. We are confident this data-driven approach will generate better leads. With the move to Billerica nearly complete, our company is inching closer to full production by the end of Q2, with a continued focus on online marketing and active engagement with new and potential customers across a broad range of industries to meet their power and cooling needs.
Read more at Investing.com: Tecogen reports strong Q1 growth, targets new markets By Investing.com