6 Game-Changing Trends for SMEs in Luzon this 2019
We’re only beginning to see what the SME landscape could be. Small and medium-sized enterprises (SME) in the Philippines, especially in Luzon, make up a dynamic and fast-growing scene. According to the Department of Trade and Industry (DTI), three of the five regions in the country with the most SMEs are in Luzon: the National Capital Region (NCR), Region 4-A (CALABARZON), and Central Luzon. And with more and more Filipinos venturing into their own businesses, the SME sector is projected to grow even further in the coming years.
This growth, however, is also a challenge for SMEs to continually strive harder—not just for the survival of their business, but to stay ahead of the game. As tech further drives the way enterprises are run, SMEs must be fully in-the-know about the trends that are shaping the industry. These are the trends that are changing the game for SMEs this year and a look at how some key players from Luzon are acing the challenge:
1. Getting mobile-friendly
With people being on their phones constantly during the day, mobile proves to be a veritable frontier for enterprises. SMEs can definitely invest interests in mobile focus and its many applications, from basic SMS to more sophisticated platforms. For example, logistics platform Mober has successfully made use of an on-demand mobile model to facilitate their same-day delivery services. Through implementing a tracker and fleet management, Mober has managed to establish itself as a reliable on-demand cargo delivery service.
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Similarly, Carmen’s Best Ice Cream, a well-known local ice cream brand, utilizes the RUSH rewards app, a Globe Telecom-developed customer engagement program that ensures loyalty from the audience, making the brand more accessible to its clients. The RUSH app also helps businesses to conveniently develop and deploy a custom-branded mobile app in as fast as 10 days. Through a well-crafted and highly customizable rewards system, the RUSH app establishes customer loyalty via a platform that is easy and flexible.
2. Making it personal
Especially for SMEs, each customer is important—thus, efficient client servicing is a must. However, businesses that go the extra mile to achieve this by making the client feel personally catered to. Artificial intelligence can now help brands be more interactive and create more customized features for clients. AI tools are becoming increasingly accessible and SMEs can make use of these to optimize their operations.
Another way to achieve this “personal touch” is through engagement. According to Diego Buenaflor, CEO of Ellana Mineral Cosmetics, digital marketing allows the brand to reach and engage consumers further, so that customers can ask and learn about their products. Digital tools allow the brand to be responsive and immediate. Founder Teresa Buenaflor calls it “a game-changer”.
3. Telling better stories
Stories indeed bring people together—with the surplus of content over the internet and social media, consumers are constantly looking for information which put a premium on real-life experiences. Potential customers are spending a big chunk of their time on their social media accounts and consuming content. SMEs must recognize the opportunity to seamlessly integrate smart, experience-based social media strategies. Today, the demand for brands goes beyond merely establishing a social media presence—businesses should also continuously work on their efforts to engage and connect in authentic, experience-based ways.
4. Meeting clients where they are
SMEs must make the effort to be where their consumers are. Today, that means being accessible across various platforms. Businesses must always remember that interaction is key—and the closer to live interactions, the better. Firstly, consumers are drawn to an interface that is easily navigable and user-friendly. Companies have also begun to make more strategic use of video and livestreaming to engage their customers. Live video goes beyond social media posts such as blogs or tweets in terms of engaging potential customers. Similarly, live chat features also create connection and engagement on a deeper level than mail functions or automated chat bots.
5. Embracing the power of data
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It’s high time for SMEs to embrace and harness the power of data. In doing so, businesses can gain significant insight and also implement real-time solutions. For the people behind Ellana Mineral Cosmetics, defined and measured metrics are important in furthering the business. It is key into accurately identifying problem areas and implementing necessary solutions, so that the company knows what to double down and spend more resources on.
Similarly, for Mober which operates on a highly time-based process, real-time information is extremely important. Getting real-time results helps the entire process chain run smoothly. The fleet tracker and management system is proven to be integral to ensuring it delivers on its same-day logistics services.
6. Being more involved
Finally, consumers are looking for businesses involved with the community. As the profile of the buyer changes, it is important for SMEs to be concerned with adapting a socially-oriented approach to running their business. Environmental and social responsibility is a growing concern among buyers, and it would do well for businesses to be responsive to their needs. As Ellana CEO Buenaflor states, “it takes a community to build a brand.”
The landscape may be changing at a rate faster than most enterprises can keep up with, however, small and medium-sized-enterprises can ease into integrating smarter solutions with the right partner. Globe Telecom’s myBusiness initiative has been fundamental to empowering micro, small, and medium-sized businesses enterprises around the country.
Globe myBusiness is not only a reliable and trusted partner for businesses, it also provides best value for money as it equips enterprises with the right technology to make it future-ready. With the goal of helping SMEs establish and develop their brand and operations by providing customizable and leading edge business solutions, Globe myBusiness indeed stays true to its primary goal: to help every entrepreneur grow their businesses–regardless of size, industry, and where they are in their business journey.
In line with the celebration of SME Week, Globe myBusiness, also joins the Department of Trade and Industry (DTI) in honoring every entrepreneur for their significant contributions to nation building. Globe myBusiness salutes all of you for your contribution to nation building. Saludo, SMEs!
For more information on Globe MyBusiness solutions, visit: https://www.globe.com.ph/business/sme.html
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