Across the world [Insight], Wonkun Lee, SyncusTech CEO, “Strategy of penetrating U.S. market by thinking outside the box.”
By Hyeongseok, Seo (Nov 5, 2015, The Electronic Times)
SyncusTech CEO Wonkun Lee makes online video calls every early morning with buyers in the U.S. who have shown interest in SyncusTech’s industrial PC main board after reading about it online, and are interested in purchasing SyncusTech’s products. In his 23 years of experience running the company, Lee has been challenged by cheaper products from Chinese and Taiwanese competitors. He overcame the hardship by thinking outside of the box to promote his products.
Lee explained that “The industrial PC industry, by the nature of the ODM (original design manufacturer) model, focuses more on producing a small amount of customized products instead of mass production, so consumer trust is crucial”, and that “considering the current global market, we entice customers to come to us first by sharing materials and technical knowledge related to their objectives and interests rather than pushing our message with no attention to our customers’ needs.”
He began by revamping the corporate website and catalogue in English. He streamlined the promotional materials using concise keywords, so that they can easily be found via online search. The materials have been linked to social networks such as LinkedIn and Youtube, and with Pay-per-click (PPC) advertising through the preeminent Google AdWords platform. He also introduced SyncusTech to potential buyers via e-mails to executives.
The Internet was a great opportunity. Lee said that he utilized the internet aggressively aiming at the U.S. market which was witnessing an increase in automated production demand. The tactics he used to expose his products to potential customers were low cost in comparison to those typically used by large corporations with large promotional funding and resources. As a result of these tactics, SyncusTech saw an increase on the time spent on the corporate website, and rising consumer awareness of the corporate brand. Such online content also spread virally on mobile too.
After revamping its marketing interfaces, SyncusTech has welcomed some 30 customers locally and overseas. Amid vehement competition triggered by cheaper Chinese products, the company worked a miracle of creating bonds with global customers, which no other Korean SMEs have dared to try until now.
Lee added that what his company accomplished was a complete surprise. He is discussing the possibilities of collaboration with preliminary customers from various industries including IT, unmanned transport vehicles, and automated production.
For ODMs, the negotiation period can be extended for as long as a year, so Lee is expecting some 200,000 U.S. dollars’ worth of exports from each of some five to ten customers next year. The product evaluation process before signing the deal has already begun for some of those customers. After over ten years of stagnant sales at 3 billion Korean won (KRW), the company is now seeing a breakthrough in its sales.
Lee is eager to grab this precious opportunity particularly because the atmosphere is favorable. The market for his products is growing by 15% annually. The local automated production industry alone is expected to reach 500 billion KRW.
Lee said that the market is rapidly growing with the spread of automated production such as smart plants, along with rebounding U.S. economy. For next year, he plans to work more aggressively on reaching the automated robot market in the U.S., as he’s seeing results such as business offers from large companies – which would have been impossible if Lee didn’t change – and become more knowledgeable about foreign markets through such interactions.
the original article | http://www.etnews.com/20151105000326