In the Philippines, the overwhelming majority of businesses are classified as Micro, Small, Medium Enterprises (MSMEs). While many are still trying to find their spot in the huge market place, the COVID-19 pandemic, and the subsequent lockdowns have made things more challenging for them. Particularly affected are the brick-and-mortar stores who now have to take their businesses online to stay afloat.
To many MSMEs, going digital and the intricacies that go with it is one more problem they don’t need. Especially when they have other facets of the business to concentrate on so they can gain market access and grow—like funding, production, supply sourcing, and skills training.
Globe Business understands the needs of MSMEs. This is why they encourage MSMEs to invest in ICT solutions capable of meeting the digital demands of the next normal.
Without staying up to date, businesses may fall behind and get overshadowed by more aggressive competitors who listen to their target market and utilize emerging trends mostly through the use of digital platforms. Globe Business says these include: (1) live selling or vending of products using the live feature of social media apps, (2) story ads or video marketing that usually creates a relevant story board to capture audience, and (3) influencer marketing, a type of word-of-mouth marketing by tapping Key Opinion Leaders or celebrities to amplify brand messaging to a larger market.
Studies show that video marketing is one of the most important marketing trends today and is expected to remain so for the next 5 to 10 years. Survey results from the Emerging Trends Research commissioned by Facebook also show that among Filipino respondents, 93% said they highly consider convenience alongside price when deciding what to purchase online; 87% said they are willing to spend more for ease of access to products or services; and, 90% said mobile payments should be widely available.
Globe Business is ready to equip MSMEs engaged in retail, manufacturing, and logistics with the latest in ICT by engaging the aid of several of its most valuable business partners: Ninja Van, a logistics company that specializes in parcel collection and door-to-door delivery; Lazada Philippines, one of the country’s foremost e-commerce platform; 1Export, a company that helps businesses export to new and exciting markets; and Zalora, a one-stop online shop for everything fashionable.
Furthermore, Globe Business is ready to help MSMEs gain the right skills, know-how and perspective to get their enterprises growing. As part of this campaign, Globe Business launched a 3-part web event series (kwentuhan sessions) entitled “Biz is it! Supply Chain Stories for Future Success, respectively retail, logistics and manufacturing”. The retail leg, Re-tell your Retail: The Digital Move, commenced last Aug 12, with Paulo Campos III, Co-founder and CEO of Zalora; Sabina Lopez-Vergara, Chief Commercial Officer of Ninja Van Philippines; Yshana Wong, Strategic Partnerships and Seller Services Lead of Lazada Philippines; and Michiko Mecate-Castaneda, Supply Chain Head of Globe Business.
The guests shared real-world challenges and how ICT and digital solutions will be invaluable tools in facilitating business operations. Ms. Wong of Lazada Philippines highlighted how digital solutions play an important role in advancing one’s business and said: “The best time to be online was yesterday, the second-best time is today.” This was supported by Ms. Campos: “We, as a business community, can do our part to help the economy move forward. More than any sector, I think, kayong mga entrepreneurs and MSMEs will really take the country forward. Ms. Lopez-Vergara also rallied MSMEs to “Be very solution-driven. Don’t do what you usually do. Do things beyond what you usually do.”
Although the next normal presents new challenges, Ms. Castenada said that these defining moments can also lead to many opportunities. She explains that the first hurdle that needs to be overcome is for MSMEs to realize that tech adoption is not just an added expense but more of an investment with long-term benefits. As their staunchest ally, Globe Business is ready and able to provide MSMEs with digital information, connectivity and made-for-business solutions that enable market penetration, base expansion and rapid growth so these entrepreneurs can own their future success, today. Watch the first installment of Globe Business’ 3-part web series here.