Utilizes AI powered customer segmentation to determine best customers through analysis of 400+ attributes per customer profile
DALLAS, TX / ACCESSWIRE / April 25, 2023 / Mangoceuticals, Inc. (NASDAQ:MGRX) ("MangoRx" or the "Company"), a company focused on developing, marketing and selling a variety of men's health and wellness products via a secure telemedicine platform, including its uniquely formulated erectile dysfunction (ED) drug branded "Mango," is pleased to announce that it has commenced an online sales campaign with DojoLabs Group, Inc. ("DataDojo"), utilizing their proprietary Customer Data Platform ("CDP"), and an AI powered, deep learning identification, segmentation, and conversion optimization technology, and a database of over 240 million U.S. consumer profiles used to identify and acquire online customers.
Per the terms of a consulting agreement entered into with DataDojo on January 3, 2023, MangoRx has been working with DataDojo to design and develop a custom infrastructure to support MangoRx's scalable direct response online sales campaign. This included i) the development and design of custom direct response landing pages, ii) sales funnel planning and development, iii) media content development and production, iv) development of email marketing and retargeting assets, v) strategic e-commerce eco-system planning, vi) product upsell strategies and shopping cart experiences, and vii) the multi-channel media setup, integration and activation of the DataDojo CDP.
In addition, the DataDojo agreement provided MangoRx with a pre-loaded database consisting of 5 million consumer profiles and records for MangoRx's marketing and outreach, leading to lower overall customer acquisition costs.
"We are very excited to be working with DataDojo, whose team and founders are proven experts in marketing technology and e-commerce with over $1 billion generated in direct-to-consumer online sales through the use of their Customer Data Platform," commented Jacob Cohen, CEO and Co-Founder of MangoRx, who continued, "As MangoRx is seeking to rapidly expand its consumer base nationwide, we believe the use of DataDojo's AI tools and CDP can play a significant part in increasing our online sales, while maximizing our marketing spend efficiencies."
Robert Tallack, CEO and Co-Founder of DataDojo commented, "DataDojo specializes in converting website visitors into rich 1st party data. According to McKinsey & Company, companies that use 1st party data can reduce customer acquisition costs (CAC) by up to 50% and increase revenues from between 5 and 15%. DataDojo prides itself in capturing and leveraging 1st party data to build detailed customer profiles. In our experience profile driven retargeting can lead to an average of 5x media returns on investment (ROI) and increased profit. DataDojo is successfully running on 90+ e-commerce stores and we are excited to apply the technology and our expertise to work to achieve increases in sales for MangoRx."
About Mangoceuticals, Inc.
Mangoceuticals, Inc. is a company focused on developing, marketing and selling a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED). The Company has developed a new brand of ED product under the brand name "Mango" (think "Man Go"). For more information, please visit www.MangoRx.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). These forward-looking statements represent the Company's current expectations or beliefs concerning future events and can generally be identified using statements that include words such as "estimate," "expects," "project," "believe," "anticipate," "intend," "plan," "foresee," "forecast," "likely," "will," "target" or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, the outcome of our agreement with DataDojo, including our ability to increase sales and obtain profitability; our ability to obtain additional funding and generate revenues to support our operations; risks associated with our ED product which has not been, and will not be, approved by the U.S. Food and Drug Administration ("FDA") and has not had the benefit of the FDA's clinical trial protocol which seeks to prevent the possibility of serious patient injury and death; risks that the FDA may determine that the compounding of our planned products does not fall within the exemption from the Federal Food, Drug, and Cosmetic Act ("FFDCA Act") provided by Section 503A; risks associated with related party relationships and agreements; the effect of data security breaches, malicious code and/or hackers; competition and our ability to create a well-known brand name; changes in consumer tastes and preferences; material changes and/or terminations of our relationships with key parties; significant product returns from customers, product liability, recalls and litigation associated with tainted products or products found to cause health issues; our ability to innovate, expand our offerings and compete against competitors which may have greater resources; our significant reliance on related party transactions; risks related to the fact that our Chairman and Chief Executive Officer, Jacob D. Cohen, has majority voting control over the Company; risks related to the significant number of shares in the public float, our share volume, the effect of sales of a significant number of shares in the marketplace, and the fact that the majority of our shareholders paid less for their shares than the public offering price of our common stock in our recent initial public offering; the fact that we have a significant number of outstanding warrants to purchase shares of common stock at $1.00 per share, the resale of which underlying shares have been registered under the Securities Act of 1933, as amended; the fact that we have generated only limited revenues to date; the continuing effect of COVID-19 on our planned operations, sales, and the market for our products; our ability to build and maintain our brand; cybersecurity, information systems and fraud risks and problems with our websites; and our ability to expand and grow our operations; changes in, and our compliance with, rules and regulations affecting our operations, sales, and/or our products; shipping, production or manufacturing delays; our ability to obtain and increase sales; regulations we are required to comply with in connection with our operations, manufacturing, labeling and shipping; competition from existing competitors or new competitors or products that may emerge; our dependency on third-parties to prescribe and compound our ED product; our ability to establish or maintain relations and/or relationships with third-parties; potential safety risks associated with our Mango ED product, including the use of ingredients, combination of such ingredients and the dosages thereof; the effects of high inflation, increasing interest rates and economic downturns, including potential recessions, as well as macroeconomic, geopolitical, health and industry trends, pandemics, acts of war (including the ongoing Ukraine/Russian conflict) and other large-scale crises; our ability to protect intellectual property rights; our ability to adequately support future growth; our ability to attract and retain key personnel to manage our business effectively; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; overhang which may reduce the value of our common stock; volatility in the trading price of our common stock; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company's products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties.
More information on potential factors that could affect the Company's financial results is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including the Registration Statement on Form S-1 filed with the SEC on February 28, 2023, and the final Rule 424(b) prospectus associated with our initial public offering filed with the SEC on March 22, 2023. These filings are available at www.sec.gov and at our website at https://investors.mangorx.com/sec-filings. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
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SOURCE: Mangoceuticals Inc.