At HWTrek we always like to hear successful collaboration stories involving the creators and experts So naturally, we were overjoyed to hear the story of how one of the experts registered on our platform, OpenEmbed, received an IoT-related order for over $USD 1.2 million. OpenEmbed is expert in design, manufacturing, and sales of ARM Cortex-based chips and IPC boards. Their products are designed for utilization in a large number of applications including, single chips, embedded systems for scientific research, military technology, electronics, aviation, communications, handheld medical devices, and education.With such a depth of services available, they are able to offer a complete and fully customized solution to match customer’s needs.
We spoke to OpenEmbed’s co-founder, Wenming Wang, and he gave us some deeper insights into the recent success the company has enjoyed through working together with HWTrek:
HWTrek: Firstly, congratulations on the recent upturn in business. Could you possibly give our readers a better understanding of the processes that went into making this deal happen?
Wenming Wang: Thanks. Things basically played out this way, the customer was looking to make a virtual reality toy but was lacking the expertise in WiFi to allow them to realize their goals for the project. They had been doing a decent amount of research of the options on the HWTrek platform. Finally, they came across our company on the HWTrek introduction page and were interested in our range of products on offer and our services. They reached out to us through the platform and after a pretty extensive amount of back and forth conversation, they decided on a customized version of one of our base product lines. We are expecting to ship in around 3 to 8 months.
HWTrek: How long have you been doing overseas business before receiving this order? What were the reasons that you decided to explore the overseas market?
Wenming Wang: We had been working with overseas customers for less than a year at that point. We made the decision to look for more overseas customers as recently the domestic market has become difficult to serve, the main reasons for this is that there is Chinese customers are putting on too much pressure price wise and there is often a lot of hassle with payments. We have found that financial transactions run considerably smoother with customers from Europe and America.
HWTrek: Before using the HWTrek platform, what methods had you been using to find customers?
Wenming Wang: Previously, we used agents on 1688, Amazon, Alibaba and we also had an agent at Huaqiangbei (electronics manufacturing hub in Shenzhen, China). We would also pretty often attend trade shows looking for new business.
HWTrek: What was the commission structure with the agents? How about the success rate from attending trade shows?
Wenming Wang: With the agents, we averaged 5-6 profit points in commission. The trade shows were not really that successful. The attendees to the shows come from backgrounds that are too broad, meaning that it’s hard to find customers that are a true match for our company.
HWTrek: What do you think were the advantages of finding customers through the HWTrek platform?
Wenming Wang: Compared to using agents or going to trade shows, there is definitely less financial investment from our side. Moreover, we are able to get in touch with customers who are precisely matched to the scope of our business.
HWTrek: Is there anything you can share with other members of the HWTrek ecosystem, in regards to getting this order and servicing the customer?
Wenming Wang: I think you need to have gone through a certain amount of activities related to your client’s industry and have got a clear understanding of that industry through the use of internet resources. After this, you can find a suitable method to promote your products. At the same time, you need to emphasize on giving your staff proper technical training. This is so that they can properly respond to your customer’s technical problems.
Check out the OpenEmbed page on the HWTrek platform.