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TheStreet Open House

ChinaNet Online Holdings' Liansuo.com Launches New Cloud-Based Service System

Stocks in this article: CNET

BEIJING, Oct. 12, 2012 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company"), a leading B2B (business to business) Internet technology company focusing on providing online-to-offline ("O2O") sales channel expansion services for small businesses (so-called small and medium-sized enterprises ("SMEs") in China) and entrepreneurial management and LINK services for entrepreneurs in the People's Republic of China, today announced that its operating unit for medium and large franchises – Liansuo.com – introduced a new cloud-based software system that allows businesses and existing and potential sales channel partners to communicate with each other more efficiently.

Quick Connect, its new software co-developed by ChinaNet and ChinaNet's partners, allows new and existing sales channel partners to reach businesses to more efficiently communicate with one another by converting all incoming calls to a toll free telephone number starting with the "400" prefix to the party they are trying to reach. Quick Connect also keeps a detailed log of all incoming calls that businesses can port into their customer relations management ("CRM") database to track every sales lead. Management expects the new cloud-based software system to drive additional spending for value-added services on Liansuo.com.

Mr. George Chu, COO of ChinaNet, said, "We developed a simple, cost effective way for small business customers to increase their client conversion rates. Most small businesses cannot afford to buy expensive CRM software. As a result of not maintaining an updated log of communications with potential clients and business partners, many small businesses lose sales they otherwise would have captured. A few Liansuo.com clients that have implemented Quick Connect have seen their conversion rates increased by 11% to 17% within a month. We plan to roll this product out to four million small and franchise business owners nationwide over the next few months. This new product will help augment the growth rate of Liansuo.com in the months ahead."

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