The 10th Philippine SME Business Expo Held its First Virtual Edition Focusing on Digital Transformation
In the 3-day virtual expo held last February 23-25 2021, small and medium enterprises (SMEs) participated in 12 talks with industry experts from brands to digital media providers who shared their insights on how to bounce back after the downturn of sales caused by the pandemic.
Topics such as exploring how to grow one’s business online through influencer marketing and video and display advertising were just some of the solutions and opportunities presented during the event. These were all accessible live via an interactive event mobile app, where visitors and exhibitors can engage and learn more from each other.
“We have been seeing digital transformation happening in large businesses over the past 6 years as part of the 4th industrial revolution. Now with the Covid-19 pandemic many small and medium enterprises (SMEs) are forced to digitally transform their businesses as well and we like to help them in this process” says David Abrenilla, CEO of Mediacom Solutions Inc.
As of January this year, data from We Are Social and Hootsuite shows that there are 73.9M internet users in the Philippines. Filipinos have increased their time spent online, coming in first globally with an average activity of 10 hours and 56 minutes per day compared to last year’s average of 9 hours and 45 minutes. 99% of these users watch online videos and this content type is one of the most consumed formats by netizens on platforms such as YouTube and Facebook.
2020 brought about major consumer behavior changes that accelerated digitalization as a key success factor for businesses. Erwin Razon, Innity Philippines’ Associate Country Manager led the talk entitled, “Your 2021 Guide to Succeed in Video and Display Advertising” for businesses looking to explore creative solutions in their marketing efforts. He shares how the future of commerce is driven by brands creating a seamless and engaging viewing experience. Today’s consumers expect their online experience to be frictionless, and so brands must capitalize on the rise of new interactive ways in engaging audiences. E-commerce gave businesses a new way of transacting and interacting with the online audience. New opportunities keep being created as technologies evolve to further improve the consumers’ buying journey.
Business owners should stay up-to-date of these developments to capitalize on the new commerce normal. The mindset should revolve around the constant pursuit to differentiate, and to keep improving purchase processes with the customers.
The consumer shopping journey is no longer linear, especially with the rise of e-commerce. With online shopping prevalent not only on brands’ websites, but also on social media, shoppable ad formats are one of the solutions that advertisers can integrate in their marketing campaigns to increase sales and reduce abandoned shopping carts.
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