Getting your business online is not an option anymore — it’s a NECESSITY if you want to thrive.
- Filipinos spend an average of almost 11 hours a day online, and 4.25 hours is spent on social media
- 96.5% of users access the internet via their mobile devices
- 65% use social media as the main source when researching brands
If you want to be in front of your customers, you have to be where they are.
Thus the rise of social commerce.
Following this shift in consumer behavior, businesses are shifting how they approach managing their business during a global pandemic as well.
But how do you manage social commerce so you can be more efficient?
Continue reading to find out!
If you want your business to last, you have to build TRUST with ALL your stakeholders.
In a time when we can easily discover new businesses online…
…51% of Southeast Asian consumers said that they have switched brands because of quality, experience, and sustainability.
To be on top of mind for your customers, focusing on selling only won’t cut it!
Now, it’s all about building genuine relationships and coming from a place of CONTRIBUTION.
Here’s one of Prosperna’s Golden Rules that you can adapt:
|GIVE, GIVE, GIVE — Before Making The Ask|
Give value upfront by giving them quality experience, helpful tools, and relevant information.
Customers are also willing to pay more for a brand that they KNOW and TRUST.
It’s no secret that there are people who are taking advantage of the digital boom.
Consumers getting scammed by fake businesses. And businesses getting scammed by fake buyers and dishonest suppliers.
Trust is a precious commodity now more than ever!
Filipinos check an average of 7.8 websites before they decide to buy.
How do you build trust and gain customer loyalty?
Focus on building a brand!
Understand what your brand is all about:
- When people think of your brand, how do you want them to remember you?
- When customers do business with you, how will they experience you?
- In your communications, how do you want to come across?
Branding can sell even without selling if you CONSISTENTLY deliver POSITIVE experiences that are ALIGNED with your brand.
|Positive Reputation → Trust → Loyalty → Advocacy|
Market To Everyone
Identifying your target audience is KEY to a focused business.
What’s great about social commerce is that it’s easier to identify, connect, and engage with your customers through social media.
Moreover, you can:
- Gather data from people who engage with your business page.
- Set the right parameters so you can maximize your budget for paid ads.
- Curate your content so you’re delivering the right message at the right time to the right people on the right platform.
When you market to everyone, you end up marketing to no one.
To best position your business…
|Be clear on who your audience is and the solution that you’re providing them.|
Create Content Without A Plan
Don’t create content just for the sake of creating content.
If you’re following Gary Vaynerchuk, you will learn that there is a PURPOSE and a SYSTEM behind his content strategy, creation, and distribution.
In a world where we are being bombarded with lots of content…
…how will yours stand out and cut through the noise?
Put your customers front and center of everything that you do.
- What do your customers need? What do they want?
- Where are they hanging out online? And why are they using those platforms?
Understanding these will help you create a content marketing strategy that is tailor-fitted for your business.
|“Content is king, but context is God.” — Gary Vaynerchuk|
Have No Social Media Strategy
To leverage social media for your business, you need to understand the benefits of each platform.
Managing business during global pandemic means you have to be smart in how you allocate your resources.
For Philippine MSMEs, social media is a low-cost and low-risk tool to build an online presence.
However, using the wrong platform will cost you wasted time and money.
To avoid this, determine:
- What is your primary goal for using social media?
- Is it for brand awareness, quality lead engagement, building authority, online storefront, or a mix of these?
Get laser-focused so you can strategically test things out and quickly adjust your effort.
As you grow your resources, you can invest more in expanding your business online.
Do Everything On Your Own
Self-awareness is key to being your BEST SELF.
This includes being the best business owner and leader that you can be.
When you know your strengths and weaknesses, you can easily focus on what you do best and delegate the rest.
However, some businesses avoid hiring and outsourcing because it does get costly.
But think about it…
What is it really costing your business if you don’t invest in hiring the right people?
- Time that you could have spent talking to your customers and developing your products.
- Lost opportunity of bringing in experts who could exponentially increase your sales.
Sure, we may have to do everything on our own when we started our business.
But to GROW your business…
|Hire the right people who will work on what they’re good at,so you can focus on doing what you’re good at.|
This is one of the KEY drivers of our success here at Prosperna.
Do Things Manually
Speaking of investments…
To manage your business more efficiently, investing in technology is a MUST!
One of the common pain points among the MSMEs that I talked to is the tedious process of completing a transaction in social media.
Even knowing that, some are still hesitant to leverage technology because of two reasons:
- The mindset of “hindi ako techie” (not being technology-adept).
- Seeing technology as a cost.
There needs to be a SHIFT!
Why manually post on social media when you can have an app do it for you?
Doing mundane repetitive tasks that you could easily automate is costing you time and money!
That said, don’t fall into the trap of investing TOO MUCH in technology.
|Identify the bottlenecks in your business and find the best solution for your needs.|
If there’s a FREE TECHNOLOGY available, then start with that.
Stick To Traditional Ways Of Doing Business
And speaking of solutions…
There’s a 133% growth in the number of Filipino consumers who prefer e-wallets for online transactions compared to last year.
What’s more, consumers are increasingly demanding faster delivery and shipping options that fit their needs.
|Social commerce is all about providing a seamless and personalized customer buying experience inside social media.|
That’s why it’s crucial that you understand the benefits of the digital solutions available in the market…
…so you can partner with the right provider for your business’ and customers’ needs.
Not Analysing Trends and Data
To best make use of social media, you need to identify:
- What are the key metrics that you need to measure?
- What do you consider a successful conversion?
- What’s your timeline for gathering useful and relevant data?
Once you’ve identified these, do a marketing audit so you can see what’s working and what’s not.
Stay updated on current trends and news that could affect your business.
If there’s anything that we’ve learned about managing businesses during a global pandemic…
|We cannot predict what’s going to happen, but we can make an educated guess.|
Ignore Audience Feedback
Here’s a simple truth:
…so LISTEN to your customers!
Get valuable insights on how you can improve your business:
- Truly understand their pain points and desires during sales calls.
- Pay attention to what they’re saying online.
- Immediately ask for feedback after conducting business with you.
It all goes back to genuinely relating with your customers.
When your customers feel that you care about them and what they have to say…
…they are more likely to continue doing business with you.
And maybe even turn into your raving fans and biggest advocates!
Managing business during global pandemic has been challenging for many Philippine MSMEs due to the increasing need to adopt digitalization FAST.
But you can manage the risk by maximizing social commerce!
AVOID THIS MISTAKES to save time and money, create a competitive edge, and build a sustainable business:
- Think Transactional
- Neglect Branding
- Market To Everyone
- Create Content Without A Plan
- Have No Social Media Strategy
- Do Everything On Your Own
- Do Things Manually
- Stick to Traditional Ways of Doing Business
- Not Analysing Trends and Data
- Ignore Audience Feedback
Prosperna is on a mission to empower 100,000 Philippine MSMEs with affordable and easy-to-use eCommerce software.
Get the newest social commerce solution to help you get started.
CTA: Download myChat on Google Play Store for FREE today!