Legacy Live, a Subsidiary of LEAI, Invests in Digital Community Technology

Plan is to Build an Ecosystem for Digital Content Creation and Community Engagement

CAPE CORAL, FL, Aug. 11, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Legacy Education Alliance, Inc. (OTCQB: LEAI) announced today that Legacy Live, a subsidiary of LEAI, has launched the first phase of a planned significant development effort to build the database and analytics infrastructure needed to monetize its database, and transform the company to a community platform at the foundation of its multiple education business verticals.

The database technology being implemented includes migration to a data lake. This will result in the centralization of data from different sources, both internal and external, such as accounting, customer interactions and social media, thus enabling predictive analytics, integration across business verticals and multiple monetization paths. Data lakes help in scaling, adapting to changing data types, and enabling real-time insights, aiding cost-effective and flexible marketing strategies.

Barry Kostiner, CEO of LEAI, stated, “As the world continues to embrace digital communities, our goal in transforming Legacy Education from a traditional live events and mentoring company to a digital community business, that extends and deepens our live event relationships, is expected to be a significant driver of our future valuation. I believe that our vision of education businesses resting on the foundation of technology and digital marketing, wrapped by an engaged digital community platform, is a recipe for great success.”

Jessie Hale, the Founder of Twlv20 and Chief Digital Marketing Officer for Legacy Live, commented, “I have built an impressive team of digital marketing and technology talent in the US and Philippines. LEAI has invested significant capital in customer acquisition over its 26-year history, with peak spending of over $500k per week on social media ads before Covid. Using the latest data lake and enterprise marketing technologies we expect to be able to realize the value of our customer data assets which were generated over Legacy Education’s long history of live events and mentoring.”

Jerry Conti, the CEO of Legacy Live, commented, “Building a digital community platform on top of our investment in hybrid event technology is expected to deepen the relationship with our network of existing and former students, mentors and investors. We recently started taking reservations for our inaugural Legacy Prosperity Cruise, offering a unique experience to our investors, faculty members and Elite students. Since Covid, live and hybrid events have exploded. Implemented correctly, technology amplifies and deepens the relationships built with our students and faculty members. We believe that the hybrid business model will improve on the historical business model of Legacy Education by reducing the cost of fulfilment through digital delivery, while augmenting the Elite student experience of live engagement. Although highly scalable, we do not believe that pure digital businesses meet the fundamental human needs of in-person connection. The importance and value of these experiences are only going to increase as the impact of technology continues to accelerate.”