- Over 20 newly launched Plus features designed to help businesses leverage the power of customer education to fuel their growth and reduce customer churn
- New Learning Paths feature provides Plus customers with a sophisticated solution for driving higher course completions in their customer education programs
- Revenue from Thinkific Plus increased 38% in Q3 with a fast-growing number of businesses leveraging customer education programs
VANCOUVER, BC, Dec. 6, 2023/CNW/ - Thinkific Labs Inc. ("Thinkific") (TSX: THNC), a leading platform for creating, marketing, and selling online learning products, today announced a suite of new features to support business users on its fast-growth Thinkific Plus ("Plus") platform.
Plus provides enterprises with a robust, highly-secure and scalable learning management solution to educate, engage, and retain customers. As detailed in its Q3 2023 earnings report, strong product innovation and strategic investment focused on platform growth have driven continued success, with Plus revenue increasing 38% in the quarter.
The over 20 new tools launched on Thinkific Plus are focused on helping businesses leverage the power of customer education to fuel growth. Building on the ability to allow businesses to launch quickly, the new tools make it easier for businesses to retain and grow their customer base through enhancing 'learner' experiences. By educating their customers at scale through online courses and training programs, businesses can improve onboarding, product familiarity, and support services.
The range of new features include:
- Advanced design tools enable the creation of professional, sleek and easy to navigate websites without having to hire a website designer.
- Advanced analytics provides a whole new group of insights into your existing customers and helps you get ahead of potential churn.
- New customer dashboard experiences featuring Netflix™-style streaming designs with tracks and recommendations, combined with new advanced search capabilities help drive increased course purchases and sign ups.
- Customizable check out experiences improve customer experiences and increase order values without the need for designers or coding.
- Learning Paths allows Plus customers to provide sophisticated learning pathways driving higher course completions and learner engagement.
- Gamification tools and customizable course players use advanced gamification techniques and streamlined user experiences to increase completion rates.
Speaking to the expected impact of the new suite of features, Thinkific's VP of Marketing, Christie Horsman commented, "We've seen firsthand the transformative power of education as a growth tool for both Creators and businesses. In the digital age, skillfully educating customers can be a major differentiator for brands boosting engagement and loyalty. Through Thinkific Plus, we're providing a best-in-class platform, equipping businesses with tools to fuel growth, boost customer engagement, and enhance retention by harnessing the full potential of education."
Among a growing list of global corporations that use the platform, Hootsuite, Keap, DataDog, and Chargebee already successfully leverage Thinkific Plus to accelerate their customer education efforts.
According to Markets and Markets research, the global Customer Engagement Solutions Market size was valued at $19.3 billion in 2022 and is projected to reach $32 billion by 2027, growing at a CAGR (Compound Annual Growth Rate) of 10.8% from 2022 to 2027.
To learn more about Thinkific Plus and the latest features, please visit www.thinkific.com/plus/
This news release includes forward-looking statements and forward–looking information within the meaning of applicable securities laws ("forward-looking statements"). Often, but not always, forward–looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding the Company's introduction of new Plus features designed to help businesses leverage Thinkific's Plus platform for customer education to potentially enhance their company's growth and reduce customer churn; the anticipated benefits that these new features can have for our Plus customers including their ability to quickly launch tools to increase learner engagement, course completion rates, course purchases, sign-ups, order values, brand differentiation and brand loyalty; the Company's addressable markets for its solutions; capturing market share; competitive advantage; advances in and expansion of the Company's offered platform service; the development and success of new products and services; expectations related to increased adoption of Thinkific's platform and standalone products; and expectations regarding revenue and the revenue generation potential of Thinkific. Such statements and information are based on the current expectations of Thinkific's management, and are based on assumptions and subject to risks and uncertainties. Although Thinkific's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. Except as required by applicable securities laws, forward–looking statements and information speak only as of the date on which they are made and Thinkific undertakes no obligation to publicly update or revise any forward–looking statement or information, whether as a result of new information, future events or otherwise.
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SOURCE Thinkific Labs Inc.
