Oscar Jofre comments on the death of e-mail in the corporate world
March 28, 2018 — “For the first time investors are given a tool for themselves so they have a value and a reason to come back in. So you never have to worry about email anymore. E-mail is dead, with all the new privacy rules.” – says Oscar A Jofre, Co-founder, President & CEO of KoreConX, in an interview with InvestorIntel’s Jeff Wareham.
Jeff Wareham: Oscar is the Co-founder, President and CEO of KoreConX. Oscar, from what I understand, you have a new IR platform or investor relations platform. Can you tell me a little bit about it?
Oscar Jofre: Sure. We are excited. The investor relations module that we are launching or we are in the process of launching it is really there to help companies communicate more effectively with their shareholders in a way now that it keeps the shareholders happy and engaged with the company. As well as helping the company manage that risk they are associated with. Are they receiving the information in a timely manner? Are they even receiving the message? Which is the other question that we are all dealing with, and making sure that the people that are held accountable to those activities are then able to report either to the board or senior management, to be able to view it on a dashboard and to instantly see what that shareholder engagement is. That is profound. There is no such platform today, in particular for privately held companies or junior listed issuers on the stock exchange.
Jeff Wareham: It is fairly intuitive. Is this something that, you know, because a lot of the junior companies just do not have a lot of bandwidth or manpower?
Oscar Jofre: It is funny. They all say that, but then when it comes down to it they will have an IR person that they will pay X amount of dollars. They will be sending out emails using an email marketing program. Then they will say, what was the output of that? We sent out 1,500 and we got 23% open. What does that really tell you? Nothing. Now the management or the board can log in because it is all there. They can see those 1,500 names. They can see who opened it and who did not. Not only that. They can see the engagement that they are having with their shareholders. All that time that they spent afterwards analyzing the data, the data is automatically analyzed. In many ways this will reduce the amount of time that you spend messaging and extracting the data to understand what is actually happening with your community.
Jeff Wareham: What does the revenue model look like?
Oscar Jofre: We provide it on a monthly subscription, flat rate. I will give you a comparable. We have clients with 250,000 shareholders. They pay us $150 a month. That same equivalent using MailChimp is $750 U.S. a month just to mail out to them. Now here is the other part. Now with new castle rules and privacy rules around the world people go, opt out so now that person does not even get the message anymore. In our platform it is different because now we provide a free portfolio management to the investor who is not just coming here to read the news, but they are also managing their portfolio associated with your company and other companies. For the first time investors are given a tool for themselves so they have a value and a reason to come back in. So you never have to worry about email anymore. E-mail is dead, with all the new privacy rules…to access the complete interview, click here