Where We at with MarketsConnection?
It is time to give an update on progress we have made with MarketsConnection!
From a positive perspective:
- We have 27 vendors signed up with accounts on MarketsConnection.
- At this time, 12 have active product listings.
- Currently, there are 103 live product listings with a selling price in excess of $1,000,000.00
- We have started a regular cadence of “flyers’ showing new product listings and features.
We will not say “negative” but rather areas that need work:
- Most sales are in larger quantities and heavier items, the automated courier rate calculator will not work with them.
- The automated courier rate calculator was limited to UPS on our platform. Our small business rates were not competitive.
- While there have been sales, they are not with the frequency that we desire.
What are we doing to move forward?
- We have disabled the courier rate calculation. We can quickly and easily access much more competitive rates, either freight or courier from a shipping partner. Buyers just need to check out with their purchase which will trigger a request for a shipping quote with no obligation to complete the purchase.
- We will continue to have conversations with prospective buyers and vendors.
- We will reactivate our subscription to LinkedIn’s Sale Navigator to allow more outreach to prospective buyers and vendors.
What is our mid-term to longer-term goals?
- Build out our current platform or migrate to a new one which will allow us the automated integrations needed to be successful and to scale up.
- Drive more robust marketing campaigns with the goal of attracting vendors and particularly buyers to the platform.
- Once we feel our platform is complete and refined enough, we will look to also launch in the United States.
How do we accomplish our goals? We will need more funding. Up until this point, MarketsConnection has been funded with proceeds from the limited sales on the platform and personal investment from the founding partners.
We are currently exploring options around equity partners, angel investors and potentially an equity crowd funding campaign (recently approved for Canada).
If you wish to learn more, please feel free to reach out to us or schedule a meeting in our calendar at this link: Calendar Link