LogicMark, Inc. (NASDAQ:LGMK) Q4 2022 Earnings Call Transcript

And so that they don’t feel like they are the people who need these types of fall devices, which is just unsightly, right? And so they care about not feeling like they are sticking out and making them feel like they are elderly even so they need a little support, right? And so redesigning these assets, so they look like just that everyday type of technology that you and I and all of us carry within our lives, make it easier for this to be adopted by those who need it the most. And if you look at the people who are actually the caretakers, the younger generation, the one in four millennials and half of Gen-Xers we always talk about, for them, it’s about, how do I offer something that is comprehensive. So my parents, I can monitor them without feeling like I am overwhelming them like big brother.

So that means that we give them the capability to sort of understand that the parents are safe without feeling that they are intruding. And so we do that by basically not turning on certain features that may seem intrusive until we need it, right? A fall incident occurs, the button is pushed so that it’s not like there’s a camera turned on in your home constantly so that you have the brother looking at you, because that’s one thing that I think both the care takers and the loved ones do not want to have. Secondarily is that we are constantly coordinating care. Is that caretaking to be a very lonely process and it’s also one that’s very complex. And so how do they coordinate care with a professional caretaker of their out of state to sort of sharing this responsibility among family members and next door neighbors that becomes extremely unhealthy experience and so they are very interested in having a system that allows them to be able to sort of organize effectively being that key.

And then the third piece for both parties is the idea of having security and safety even when things may not go quite right. And I call that the triple protection, which is generally speaking now for the people who are using the products, they want to know that if they need it, somebody is there. And so if I am a loved one, elderly loved one, maybe sometimes my son is in a meeting and he has his phone turned off. And so if I have an emergency, I cannot reach him. So but now what. And so having the capability to say, look, if I cannot reach my son, who is typically my caretaker then I know that I am going to be protected, because this — my device will bump into my next person who’s a caretaker and if that person can’t be reached, I can go to a 24×7 monitor service where I could go directly to 911.

I call it the triple protection, right? So they want to know that there’s a comprehensive capability to be covered. And not only does that make the end user comfortable, but it also makes their caretakers comfortable that in the off chance that they are in a that phone zone or they are in a meeting that their loved one or their parent has always taken care of. So those are the things that matter the most to them. That’s what we sort of rolled out and our rolling out.

Allen Klee: Thank you. Very interesting. How do you think about the best way to or what your marketing strategy, sales and marketing would be for this year?