The financial results of Q1 2020 are at a constant level compared with the same period of 2019 in spite of the current COVID-19 context
- The value of invoices issued in 2019 exceeded 1 million Euros
- Segments with great impact in the growth: Virtual Reality, Augmented Reality and software development (40%), loyalty programs and promotions (+ 30%)
- Given the current context, the target for 2020 has been readjusted from estimated growth of at least 40% to an increase of 10-20%
With over 15 years of experience in digital communication, Ideologiq agency reports a 40% increase in turnover in 2019 compared to 2018. In the current context, Ideologiq had a positive financial evolution in the first quarter of 2020, due to both an increased number of clients compared to the 2019 portfolio and to the fast adjustment to the new market context.
“The speed of the change in the digital field is extraordinary and this is the aspect that motivates us to continue to develop responsibly and assumed. The fact that we managed to grow organically and exceed 1 million euros invoiced in 2019, motivates us to do more. The 2020 strategy is based on evolution, development and efficiency, aspects that we definitely add to the recipe for success. It is true, thet this year started with small difficulties given the context of Covid epidemic, but we managed to overcome them. We are ready for what the next half of the year has in store for us.”, says Adrian Ichim, Founder & Partner Ideologiq.
Among the most important factors that contributed to the increase of this turnover in 2019, were the consolidation of the relationship with the agency strategic clients and also the development of the portfolio of delivered services. The share of services that led to this performance is represented by the following segments: the development of e-commerce, websites and mobile applications, including new technologies such as Virtual Reality and Augmented Reality (40%) and also loyalty programs and promotions (30%). At the same time, the development of the creation and strategy department represented a plus in the dynamics and evolution of the agency, thus managing to deliver many more integrated projects, such as: strategy + creation + rebranding + application development + media + promotional campaigns.
“At Ideologiq we aim to change visions by adding a touch of innovation to all the projects we work on. We are not led by words and promises, but by quantifiable results. Our main focus is selling the products and services of our clients. Currently, we are developing new projects 100% “from home”, and others are even completed “from home”. I can say that we are now dealing with projects that would not have occurred if we were not in this period of “lock down”, added Adrian Apostol (photo), Founder and Partner Ideologiq.
In the current context, from a financial point of view, the agency has managed to remain at the same level as in the first quarter of the previous year. This helped keep the team complete. On the other hand, customers enjoyed the support of the agency right from the beginning, offering them new ideas and products, settings for video-streaming platforms and last but not least, suggestions for good communication in times of crisis, without charging additional fees.
The accelerated dynamics of the agency in 2019 led to the need of expantion internationally. Strengthening the presence on the markets of Romania, Bulgaria, Hungary, Greece, Serbia, Croatia and Slovenia through the development of regional offices, a very important aspect for Ideologiq in 2020.