NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of eCommerce, mCommerce, and fintech business enablement solutions, has launched a new digital marketing campaign for its CreateApp mCommerce platform-as-a-service (PaaS) in Taiwan.
The launch follows a successful pilot marketing program that has included online seminars hosted by CreateApp’s chief product officer and founder, Eddie Foong. The seminars were attended by potential distributors and resellers interested in remarketing CreateApp as an ideal solution for any small-and-medium business (SMB) looking for an easy and affordable way to establish a mobile presence.
CreateApp subscriptions were subsequently purchased by attendees in blocks of 10, who then resold them to SMBs across Taiwan. So far, this has resulted in more than 1,000 new CreateApp customers, with a marketing ROI to Weyland of about 3-to-1 on the first month.
Weyland’s partner in Taiwan, Now Mastery, LLP, an affiliate of NYSE-listed Line Corporation, has supported the marketing campaign by promoting CreateApp to its online followers. Now Mastery is led by Joseph Kay, a best-selling author who is widely regarded as the preeminent authority on Internet marketing for small business owners in Taiwan. A major influencer, Kay has attracted more than 400,000 followers on Line’s small-business marketplace and 67,000 on Facebook.
According to Foong: “We estimate our opportunity with Now Mastery totals more than $8 million in annual subscription based its 400,000 followers who we have been inviting in stages to our CreateApp seminars. Given the tremendous response we’ve received, we expect this group to provide us a highly-effective and cost-efficient means to reach the 1.3 million SMBs across the country.”
Now Mastery followers can sign up for special CreateApp subscription pricing ranging from US$25 to $110 per month, depending on the features and modules they use, such as digital marketing via Facebook and data analytics.
In contrast to how the company been private-labeling CreateApp for its distributors in Indonesia, the new model in Taiwan sells CreateApp under its owned brand. Foong says the different structure creates higher margins at around 30%, which is more in line with the typical SaaS revenue model, and with little to no R&D costs its end. Now Mastery also helps to provides ongoing advice and support for its CreateApp users.
Weyland sees strong growth of CreateApp in Taiwan driven by the trend of tech savvy citizens working more from home, and COVID-19 accelerating the rise of the digital economy, according to a recent article by BDO.
Forbes says Taiwan’s economy should still grow 1.77% this year, based on the twin effects stemming the spread of the coronavirus and an elaborate government stimulus program. Economic activity has picked up on the island, as coronavirus outbreak fears ease, according to the Chung-Hua Institution for Economic Research.
While Taiwan’s population of 28 million is small compared to other markets in the region, its consumer habits and openness make it an easy market to navigate, as well as introduce and test consumer acceptance of new online services.
Internet speeds in Taiwan rank among the top in the world; IP protection is well-established, and the cultural similarities to China make for good testing grounds to launch and experiment with new ideas before moving into larger regional markets.
According to Export.gov, more than 85 percent of Taiwanese citizens are connected to the Internet and more than 70 percent access the Internet using a smartphone device, making it one of the most connected consumer bases in the world. Further, a significant portion of the population is now shopping on mobile devices. Currently about 48% of all online transactions in Taiwan are mobile-based, and this number is expected to reach 61% by 2022.
“We plan to expand our new seminar marketing approach to attract new distributors in other parts of the world, including Europe and particularly in Italy where we’ve already established a presence,” said Foong. “Medias-Com’S SA, a Swiss company specializing in media and communications, will be helping us to provide training and support for a new CreateApp campaign in Italy.”
CreateApp enables businesses anywhere in the world to create and deploy native Apple iOS or Google Android mobile applications without technical knowledge or background. CreateApp empowers SMBs to increase sales, reach more customers, manage logistics, conduct financial transactions, and promote their products and services in an easy, affordable and highly efficient way. The CreateApp user base, comprised of businesses across Southeast Asia, grew 47 percent last year to more than 360,000.
Weyland’s acquisition of Minneapolis-based Logiq earlier this year is also expected to eventually provide lead-generation tools for Taiwanese SMBs that can help to increase online sales.
About LINE Corporation
Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, Fintech and more. For more information, visit www.linecorp.com.
About Weyland Tech
Weyland Tech, Inc. (OTCQX: WEYL) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its CreateApp™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. CreateApp empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. CreateApp is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.
Weyland’s subsidiary, Logiq Inc., provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, like Home Advisor, QuinStreet and Sunrun. The AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s AtozPay™ subsidiary offers mobile payments, e-wallet, and the AtozGo™ hyper-local food delivery services in Indonesia, which has the fastest-growing mobile economy in Southeast Asia. For more information about Weyland Tech, go to weyland-tech.com.
Important Cautions Regarding Forward Looking Statements
This press release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the adoption of our product offerings by SMBs and other businesses; the ability of the company to expand its new seminar marketing approach, the ability to expand its new seminar marketing approach to distributors; the ability of the Company to successfully integrate the assets of Logiq, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; the continued use and success of AtozGo and AtozPay; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
LogiqX is a trademark of Logiq, Inc. All rights reserved.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
WEYL@cma.team
