We did it: 500+ postings worth over $20M!
May sound little compared with Alibaba or eBay, but, it was no little feat. Since our launch last November, we have worked hard to get buyers and sellers (though mainly sellers in this initial phase), to sign up and start posting products for sale, or products they need to buy.
From products like PVC to Heat Transfer Oils to CMC (Carbomexymethyl Cellulose), we now have hundreds of products from all around the world being posted through our online marketplace specifically designed for petrochemicals. Players in the industry are starting to realize that we are a player ourselves. An innovative, low cost sales channel, that is making the lives of petrochemical companies easier, type of player.
The little snowball that has rolled into a tumbling sphere of excitement is no accident. Our team has been hard at work, crisscrossing the world, meeting with potential members, having countless discussions about the benefits of Kemgo, and developing and executing strategies that we think would benefit and attract our most desired members.
We are following a three-step approach to help us get to where we are today:
1. To build this marketplace, we’ve had to initially focus on a small number of product groups (out of thousands and thousands). By doing so, we increased the odds that products posted for sale and products that are required match.
2. We focused on members, particulary suppliers that sell products that made our initial shortlist that have demonstrated a willingness to be disrupted; in a good way that is. By focusing on these members, we easily received buy-in from their senior executives (shameless plug our to our great team of senior advisors for their support) and helped diffuse our innovative approach to their sales team. I quote some of these senior leaders:
“It’s not a matter of if, it’s a matter of when” and “it’s going to happen. Not sure when, but, it will happen.“
By following this step, we built content through postings (our initial goal was to get 1,000 postings by the end of March, but, we will be there befire then!).
3. Finally, we will expand our focus to more proactively include buyers. There are already several buyers that have organically registered and posted their product needs, which is great, but we are planning a more targeted campaign to get buyers registered and fully aware of the value that Kemgo brings. The idea is that it will be easier to do so once we have strong content (see #2 above).
So, while we are currently proud of our achievements to date, there is still a long way to go.
Next stop: Transactions. Stay tuned – we will be sharing big news in our next blog!
Joe Naaman & Ralph de Haan
(Kemgo Co-Founders and Co-CEOs)