One Click Group (ASX:1CG) has achieved another exciting milestone after surpassing 70,000 users on its fast-growing technology platform.
The company says registered user numbers have grown over 600% during this calendar year when compared to the prior corresponding period, and is attributed to a funded marketing campaign leading up to the coming tax season with a maturing of multiple digital channels now engaged.
One Click reports this growth also positions it for continued ‘strong’ revenue growth. Additionally, this continued growth demonstrates a growing demand for digital financial services in Australia and ‘excellent’ penetration for the One Click platform.
“This year our registered user base has already grown over 600% in the prior corresponding Jan to May period”
The company notes in June the marketing campaigns for the ‘One Click Life’ platform are expected to expand with the start of advertising on Channel 7 following a television campaign in 2022 through parts of regional Australia.
This upcoming advertising campaign has been designed to cover AFL games nationally, as well as expand the regional presence and trial Queensland’s capital city of Brisbane.
Speaking on the milestone, One Click Group Managing Director Mark Waller said: “Our focus has been on continuing to grow user numbers on the One Click Life platform whilst we expand the platform’s capabilities, increasing revenue opportunities within our user base across multiple platforms in readiness for the coming tax season, which is currently our largest revenue earning period from our Tax product.
This year will be the first time we have been fully funded for our marketing campaign leading up to and through the tax season and we have already seen the benefit of this. This year our registered user base has already grown over 600% in the prior corresponding Jan to May period. This growth has included a mix of new customers both finalising outstanding tax lodgements and getting ready for their coming tax lodgement.
This increase in registered user numbers is also benefiting our ability to monetise our other products with our One Click Mortgages product already monetising. We’ve been very happy with the initial engagement with this product and look forward to it continuing to contribute a growing annuity revenue stream.”
One Click Group is an ASX-listed company that operates a Western Australian-based financial technology platform (One Click Life) that is positioned to disrupt and capitalise on market demand for online, self-directed financial and life admin services.
The platform’s primary competency and revenue stream is online tax, however it contains a lending competency and a number of other products for its user, with online wills and private health insurance already available and more new products expected to come in the future.