SmartTrans Technology has four main areas of business: SmartPay, Digital Marketing, E-commerce, and Development. SmartPay is a service unique to SmartTrans and offers secure payment options as its partnered with AliPay, WeChat Pay, UnionPay, and is used on all three telecommunication billing systems in China.
Digital Marketing includes the setting up of WeChat and/or Weibo accounts, target market research, content development specific to the client’s brand and products offered, and weekly posting of the articles developed. E-commerce works in conjunction with this service; SmartTrans, through WeChat and websites such as 1688, Taobao, and Tmall (all owned by Alibaba group), can set up easily accessible channels from which Chinese consumers can buy a client’s products.
To compliment the E-commerce ability of SmartTrans is the Development support, which includes designing a website for the company with bilingual capabilities, designing the e-commerce or WeChat selling page to appeal to the Chinese consumer, and logistical and warehousing scheduling.
The biggest strength of SmartTrans is its SmartPay service and all the business that it brings in. It is strategically positioned as the top payment method for western countries as it allows easy conversion from the Chinese RMB to any other currency. Because of its agreements with China Telecom, Unicom, and Mobile, we have a database of over 600,000 users that we can directly market to through their telephone numbers via text messaging. Another strength we have is our size: we are a small, flexible company with the ability to move quickly within our market. Because there’s a total of 12 of us in the office, information flows freely and strategies can be dropped with little red tape.
On the flip side, our size is also a hindrance. We are not a large conglomerate with a lot of capital to spare on marketing ourselves. We mostly rely on Word of Mouth and prior existing connections that our employees bring in. We do grassroots marketing at the AusCham events and try to spread awareness among the Australian ex-pat community.
An opportunity that is quickly fading is to be one of the first movers into the Australian market in China. Australian goods have seen an increase in demand of more than 67% over the last four years among Chinese consumers. SmartTrans specifically caters to Australian companies wanting to access this market; because our company originated in Australia we have an opportunity in that community.
The biggest threat is the recent flood of digital marketing and social media support businesses in China. Foreign businesses got wind of the potential of the market and came from all corners of the world. Another threat are the large companies with access to massive amounts of capital from their host branches in their countries.
If SmartTrans acts efficiently and with eyes wide open, I believe they can succeed in the market and continue to grow their business.