With the introduction of Norwood System Ltd’s World Phone for Android now 11 days away, as Norwood has promised (as covered here in iTWire), the company has reached new milestones with plenty more on the speed dial still to come!
The iOS version on the Australian app store is here - international readers clicking the link will eventually be taken to their own country's App Store after clicking the link.
Over 1 million copies of World Phone been downloaded around the world, up by 33% since Norwood’s previous announcement, with the annualised revenue run rate increased to more than A$1,300,000 p.a..
Norwood says this is a ’44% increase in run rate since the previous announcement on November 5, 2015 after a standing start from launch on 31 July 2015,’ with the launch of World Phone previously covered in iTWire here.
The company says that ‘enhanced internally managed digital marketing efforts’ has led to ‘exceptional results in both improved download rates, and declining costs of acquisition.’
Norwood says it plans to provide regular revenue updates during the current ramp up phase on a fortnightly basis for the next quarter.
The company has also reported that additional expertise added has been added to its Board, with the appointment of Giles Everist as a NonExecutive Director.
The aritcle continues, please read on below!
Norwood Systems CEO and Founder, Paul Ostergaard, said: “We are highly pleased with the progress we have made towards the ambitious growth goals we set out less than eight weeks ago, and surpassing the ‘double million’ with over a million downloads and annualised revenues of over a million dollars is very significant.
“Downloads and Revenue both continue to increase, at rates of increase significantly above those recorded just a few weeks ago. Alongside this we have ongoing declining costs of acquisition.”
“From the beginning we have been very concerned to focus on successfully monetising our investment in both the World Phone and CORONA platforms. Beyond our early success in driving increased downloads of World Phone, one of the most pleasing aspects of our recent performance has been the relentlessly increasing trend in daily revenue from World Phone.”
“All of the downloads in the world are not useful if we cannot convince enough of our users that our products are worth paying for, or that our partner offerings are worthwhile.”
“Our continually decreasing costs of acquisition for new downloads will also greatly assist our monetisation efforts, as our internally run and managed digital marketing efforts narrow in on the most effective campaigns for World Phone and help refine our efforts over time – lowered costs of acquisition lead directly to higher returns from our monetisation strategies.”
Norwood has published further information on the developments at its ASX announcement, which can be read here (PDF link).