New technology can help up and coming e-commerce companies gain a competitive edge
While more brick-and-mortar retailers try to direct their sales towards online platforms, many still struggle to compete with incumbent players like Lazada and Qoo10.
To help this pain-point, Singapore-based Apps Authority has launched a cloud-based e-commerce software to offer traditional retailers the tools they need to draw customers and make their products known online.
Called SmartCommerce, it differentiates itself from competitors with its multi-channel digital marketing system and a customer relationship management (CRM) tool.
Its digital marketing system allows users to launch a unified campaign across various social media platforms from a single source, while its CRM tool acquires repeat customers with its rewards system.
Incubated by NTUitive, the startup is in its third year and has been profitable since January.
“In today’s e-commerce landscape, we have Shopify and BigCommerce who offer front-end services to start an online business, and there are options like Vend for point-of-sales. We also have CRM tools in other systems. But these are very point-based solutions,” says Kenny Goh, CEO and founder of Apps Authority.
“(Retailers) need something more integrated and holistic, so that’s why they use our new channel.”
Cris Duy Tran, a consulting analyst for digital transformation at Frost & Sullivan, says new e-commerce players can use such diagnostic tools to build customer relationships and gain competitive edge.
“I think one of the reasons why big players in Southeast Asia are burning so much cash is that they are looking at the wrong aspect of online business. Many businesses create sales by giving promotions and discounts. But what’s more important is how you protect customers, make it easy for them to pay, and respond to their needs. It’s all about the customer’s experience,” he says.
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Goh also says that many online retailers face challenges in retaining brand loyalty, as shoppers can easily compare prices online and are more likely to switch from one retail brand to another.
“SmartCommerce is programmed with the digital marketing tool which allows you to create one single campaign that can be sent out to Facebook, Twitter, Whatsapp, and email marketing. [Companies] don’t have to replicate [their] efforts.”
He adds that many retailers use the ‘chop-and-stamp’ loyalty system, but when these retailers are asked for their customer’s name “they can’t answer, because they don’t capture the profile”.
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One example of a SmartCommerce user is Singapore-based New Orient Agencies, which sells wellness products like health beverages. It manages both its online and offline sales using the software.
New Orient Agencies uses its CRM tool to collect data about customer demographics, and then use these data points to collaborate with gyms or fitness clubs to meet its customers’ needs, says Goh.
“It’s easy to get into the digital business. If you’re an SME or business owner, the number one problem you want to solve is sales. But if [retailers] set up shop online and people don’t know their brand, it becomes a white elephant,” he adds.
SmartCommerce hopes they can turn those potential white elephants into golden geese.
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