Electric Guitar PLC (AIM:ELEG) CEO John Regan talked with Proactive about the company's new reseller partnership with Sophus3. Regan explained that Sophus3 specializes in understanding website engagement in the automotive industry, working with major car brands like Ford, Volkswagen, and Audi. This partnership aims to leverage 3radical’s engagement tools, which Sophus3 will resell to their automotive clients, enhancing both companies' offerings.
Proactive: So 3radical has agreed a reseller partnership with Sophus3. Tell us more about Sophus3 and what this partnership entails.
John Regan: Well, Sophus3 is a business focused on understanding how people engage with websites, specifically in the automotive industry. They work in the UK and across Europe with major car brands like Ford, Volkswagen, Audi Group, and Hyundai. They help these brands understand how their websites affect user engagement and what content to serve to achieve the best outcomes, like booking a test drive or buying a car. They also offer technology such as virtual car showrooms and live agent engagements, which have remained popular post-pandemic. Additionally, they have a large amount of anonymized data from monitoring website activities, which allows them to benchmark advertising campaign effectiveness at an industry level.
Proactive: Okay. So is this a mutually beneficial partnership where you both share each other's information?
John Regan: It's not so much about sharing information, although that would be beneficial. There are two main opportunities here. First, 3radical's products focus on engaging people and generating data, and we're not yet established in the automotive industry. Sophus3 will resell our products to their large clients, enhancing their showroom-to-online engagement capabilities. Second, Sophus3 has developed software that automates analytical advice for website engagement, which we believe will interest our client base in e-commerce, retail, and financial services. This partnership will broaden our product offerings and move us up the supply chain into a more strategic role, making us more integral in the decision-making process and boosting revenue.
Proactive: Is this partnership with immediate effect?
John Regan: Yes, we signed the deal on Monday, or late Friday evening. We're now in the onboarding process to understand each other's technology and prepare to present it to clients. This will take about a month, and then we should be fully operational.