Mediaboss Marketing

IT service provider invests $1.25 million in Melbourne social media marketing platform

Melbourne IT (ASX:MLB) has invested $1.25 million in Melbourne-based social media marketing platform provider Tiger Pistol as the IT services firm looks to provide social media management services to customers.

According to Tiger Pistols website, it creates and maintains social media profiles for small to medium sized businesses. The company also monitors and responds to reviews from customers. It can also post content on the clients Facebook or Twitter profile to drive traffic and create awareness.

Melbourne IT CEO Martin Mercer said that in partnership with Tiger Pistol, it will assemble a suite of solutions for small businesses who want to get found online.

Many small businesses need help to successfully engage with their customers on social media. Tiger Pistol will enable us to manage a businesss social media presence and take advantage of advertising opportunities on social media, he said in a statement.

Melbourne IT will begin offering the service in 2015 to existing customers with established websites and new customers who may not have a social media presence.

In June 2014, Mercer told Computerworld Australia that the company needs to re-orientate and develop products that it is confident there is a market for.

We then need to promote the product and sell it properly, he said. Its easy to say but its amazing how many companies dont manage to get it right.

In September 2014, the company reported revenues of $59.6 million for its half year ended 30 June 2014. This compared to revenues of $51.3 million for the same period in 2013.

The company also reported a net profit after tax (NPAT) of $2.7 million, compared to $3.9 million last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) were $3.6 million, down slightly from the $3.7 million reported last year.

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Melbourne IT eyes social media market with Tiger Pistol