SaaS solutions to provide digitalized customer engagement to enhance working efficiency, customer experience and to increase customers lifelong value
BEIJING, May 25, 2022 /PRNewswire/ -- Infobird Co., Ltd (NASDAQ: IFBD) ("Infobird" or the "Company"), a leading provider of AI-powered customer engagement solutions in China, today announced that it aims to transform how dental practices engage with patients throughout the whole customer journey. Infobird's provides software solutions that digitize and improve existing customer engagement processes that are core to many medical practices and allows medical professionals to focus their efforts on providing high quality health care, resulting in great experiences for patients.
In order to quickly expand the Company's market opportunities, Infobird's go-to-market strategy focuses on certain strategical vertical industries such as retail and healthcare. In the healthcare industry, the Company has targeted the dental industry as one of the strategic sectors for growth and has since won business with many domestic leading dental brands. With the rapid rise of the dental industry in China and the strong foundation established by the Company in the past year, Infobird expects to grow its market share and influence in this industry.
According to the market research reported in the "2022-2026 China Dental Industry Panoramic Survey and Investment Strategy Research Report" published by the China Research Institute, the scale of China's dental market reached 103.5 billion yuan in 2019, a year-on-year increase of 7.81%. From 2008 to 2019, the average annual compound growth rate of the dental medical market is 16.12%, in 2020, the market size grew to approximately112.4 billion yuan. It is expected that the demand for dental care in China will surge in the future, and the overall market size will reach 300 billion yuan by 2025.
As a service scenario that attaches great importance to the offline person to person experience of customers, dental services are a personalized and customized service led by doctors. Many dental procedures can be complex and require several visits. Therefore, providing personalized service with the help of digital customer engagement is the key to long-term customer retention as well as the ability to attract new customers. However, the dental service's business process tends to be rather complex. From pre-diagnosis consultation, in-diagnosis service to post-diagnosis care, each process can involve a large number of service personnel and complex operations. Therefore, dental practices face many challenges, such as the inability to distinguish customer lead resources, low conversion rates, inconsistent service experience, and untimely follow-up.
In response to the needs of the dental industry, Infobird offers digital customer engagement solutions to help dental offices target three major scenarios: marketing, customer service and management. Today, Infobird serves many leading dental institutions in China, including Jinsong Dental, Guanmei Dental, Jiamei Dental, and Zhongke Leader, as well as many others.
The Company's expansion into the large and growing dental industry, while in its early stages, represents another success story of its diversification strategy to seek growth opportunities in new and related verticals. Using its dental industry experience, Infobird is planning to pursue opportunities in the non-public medical industry as part of it continuing effort to promote the implementation of digital engagement solutions to support the healthcare industry in China.
About Infobird Co., Ltd
Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China. For more information, visit Infobird's website at www.Infobird.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will, "future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events, results, conditions or performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date they are made. In evaluating such statements, investors and prospective investors should review carefully various risks and uncertainties and other matters identified in the Company's filings with the U.S. Securities and Exchange Commission. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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