Published on 7 Apr 2022 on Zacks via Yahoo Finance
Coupa (COUP) Seeks Enhanced Customer Connect With Brand Deal
Coupa Software Incorporated COUP recently inked a multi-year brand partnership deal with the New York Yankees for an undisclosed amount to enhance its customer connect program. The contract with the American professional baseball team will enable it to showcase its products to a broader investor community and better connect with the fanbase.Per the deal, Coupa will use the Yankee stadium signage and various promotional activities to strengthen its brand presence. In addition to the in-stadium engagement with fans, the company has secured a deal with the Yankees Radio Network to feature the brand during radio broadcasts. The radio coverage will also highlight the ‘Coupa Maximum Value Play of the Game’ – a brand awareness campaign that supports its “value as a service” philosophy.As a B2B company, Coupa has traditionally depended on contextual marketing to buyers in the business spend management space to increase its user base. The company is now aiming to go mainstream with an extensive brand-building exercise to promote the idea of business spend management being more of a transactional thing and one that offers more resilience in supply chains and drives more value to the bottom line. This brand awareness campaign is likely to result in increased traffic through its inbound website and lead to a rise in community activation with higher customer engagement.Smart and efficient spend-control programs that provide enhanced reporting and analytics have been the primary reason behind Coupa’s expanding clientele. Solid momentum in Coupa Advantage Express, Strategic Sourcing, Risk Assess and Source Together solutions is anticipated to bolster the company’s subscription services revenues in the quarters ahead. Further, the company has been adding new capabilities to Coupa Supplier Insights and Coupa BSM solutions, which is anticipated to boost adoption.Moreover, the coronavirus pandemic has bolstered the demand for digital payment offerings. The company has strengthened Coupa Pay solution with greater payment flexibility capabilities. This is expected to contribute to momentum in solutions such as Coupa Pay, Accelerate, Invoice payments and Virtual Cards for Pos, and augment the top line. It has extended these solutions to partners like BNP Paribas, American Express, Citibank, Transfermate, Stripe and PayPal.The stock has lost 61.5% over the past year compared with the industry’s decline of 46.4%.
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