Marketing and promotion are the key components of running any business, be it online or brick and mortar. Proper marketing (of online businesses) attracts traffic, which in turn increases sales and profits. We will have comprehensive digital marketing tools as well as internal social media to make it easy for the store owners to analyse their audience's preferences and experience so as to tweak their stores for higher conversions. Moreover, the AUDcoin platform will include multiple online advertising platforms to make it easy for customers to commence and monitor promotional campaigns should they prefer to use that route to attract more customers.
AUDcoin offers store owners a tool to monitor actual customer feedback. Through blockchain technology, we intend to make sure that only those who actually buy the products get to review them.
This will mean that all reviews posted through our internal social media on the site will be honest or at least from someone who actually got to see the product and probably used it. By analysing honest feedback, store owners will be able to know what customers really want so that they can create unique, customer-centric products tailor-made to meet the buyer's wants and needs. Furthermore, honest feedback can help the producers to update products if need be and act early to prevent a pattern of negative feedback that could harm the sale of products in the long run. As high numbers of customers like placing orders by phone, we intend to integrate this mode of communication as well to make it easier for the customers to inquire about the products before making their purchasing decisions. Phone feedback will also be automatically stored for your listening.
Nowadays information is Gold. Big companies like Google and Facebook are using customers' data to make billions of dollars in revenue. We can distribute platform-wide customer analytics data to the store owners for a minimal fee. Multiple filters will be integrated into the customer analytics tool to allow the store owners to easily read trends and patterns and adjust accordingly for guaranteed success.
As companies and manufacturers expand, it is only natural for them to hire more employees. However, with our platform, manufacturers and owners will be able to expand without necessarily having to hire more people. This is because our incubation platform will have multiple features such as customer support, marketing, accounting, and analytics tools to handle the increased responsibilities. Thus, even though one might end up hiring new people to handle the increased workload in their business, it will not be at a scale traditionally needed. This is a key advantage to small-scale manufacturers as most often they don't have the funds to hire more employees in the start-up phase of their businesses. The fact that they can reduce costs and get to focus on what they do best can help their businesses succeed.
Currently, most platforms/ marketplaces are simply businesses that expect their brand popularity and features to propel them to success. We do things differently. We are more of an online business incubation hub than a platform. We want our customers to succeed so as to encourage more people to take up and trade (buy/ sell) in AUDcoin. For this purpose, our team will be offering the store owners and manufacturers comprehensive support services to boost their businesses. The support will be available 24/7 as we will be accepting store owners from different parts of the world. Moreover, we will also offer arbitration disputes that may arise between the buyers and sellers on our E-commerce portal.
Although we intend to make our platform as easy to use as possible, not everyone will be comfortable in setting up their store and maintaining it themselves. Some just like leaving these kinds of jobs to professionals. This is why we intend to create a Job Marketplace on our platform to connect the sellers with verified professionals who will help them edit photos, write product descriptions, translate product descriptions, review products and even make short infomercials for token rewards. This will help the sellers to improve the presentation of their items. It will also increase buyer's confidence as the verified reviews will help them to quickly make their purchasing decisions.
Unlike most stores that do not accept cryptocurrency, sellers on our platform will accept payment in AUDcoin and other cryptocurrency. This will make the stores more convenient especially for those with cryptocurrency. It will also be more convenient to sellers as they will be saved from the multiple transaction fees associated with traditional payment systems.
Small-scale manufacturers and business owners on our platform will be able to incorporate loyalty programs on their stores. Allowing customers to earn bonus points or AUDcoins for every purchase will ensure that they will come back to use their bonus points/ coins to enjoy discounts and offers. This will increase revenue and profits and create a loyal customer base with recurring involvement.
One of the biggest problems faced by E-commerce stores is the payment processing time. It takes a couple of days for sellers to receive their payment using the existing payment systems. Currently, about 5% of every transaction is also taken as a cut by banks and online payment processing firms. By integrating blockchain technology, we will reduce payment processing time and make transactions cheaper for sellers. The significance of this process is that it does wonders for freeing up cash flow.