In yesterday’s after-hours activity, NovaBay Pharmaceuticals Inc. (NYSE: NBY) saw gains on the charts, increasing 10.56% to close at $1.99. In the lack of fresh news, NBY was pessimistic; recent events could provide additional light on the pharmaceutical company.
Has NBY experienced any recent events?
To attract new clients for its Avenova and DERMAdoctor brand medications, NovaBay Pharmaceuticals (NBY) recently announced the extension of its lifestyle advertising video campaigns on TikTok and its Chinese equivalent Douyin. Since China is the largest e-commerce market in the world and accounts for more than 50% of all e-commerce transactions worldwide, NovaBay Pharmaceuticals is increasing the availability of its DERMAdoctor products there online.
In order to promote our DERMAdoctor products in this incredibly sizable market for skincare goods, UNQ Group, NBY’s new marketing partner in China, is running influencer videos through its Fancy subsidiary on Douyin as well as devising e-commerce strategies and providing integrated solutions. With 550 million active monthly users, Douyin is the top short-video app in China, and NBY’s new influencer videos provide a chance to effectively target consumers.
The 12 days of Double 11, which are successful campaigns that NBY recently launched in China, are so dubbed because they culminate on November 11. Several times more money is made during this internet shopping extravaganza that is made during Black Friday in the United States.
Influencer advertisements by NovaBay Pharmaceuticals at this year’s event led to year-over-year gains in sales of 26% and in the number of visitors to its online DERMAdoctor stores in China of 258%. Earlier this year, NBY hired Doumai, a top developer of e-commerce solutions, to update its DERMAdoctor online store on TMall, China’s answer to Amazon. More than 30,000 customers have ordered DERMAdoctor products through Tmall, and the NBY online store has attracted 15,000 followers.
How is NBY disrupting the market?
TikTok, one of the world’s most potent forces in digital advertising, is helping NovaBay Pharmaceuticals (NBY) advertise its pharmaceuticals in the United States, especially to young people. NBY has collaborated with a medical partner to create a short-form video message about treating blepharitis.