SMEs urged to harness IT to find new markets

MANILA, Philippines - Information technology is increasingly shaping the buying patterns of consumers worldwide, and small and medium-size enterprises (SMEs) that take advantage of this development will find more opportunities in the digital age.  

An international IT expert who came to Manila recently said that Filipino SMEs need to be more tech-savvy and more visible in virtual space as buyers’ purchasing decisions are being greatly swayed by information they collect from the web.

Bianca Grey, account manager at Internet service provider Google, said that communication technology advancements have made consumer spending habits “more complicated,” and SMEs need to keep up with the times.

Grey said about 2.4 billion people worldwide are now connected online. Smartphone usage is on the rise, and 98 percent of smartphone users reside in the Asia-Pacific, she said.

In Southeast Asia, Grey said that 91 percent of smartphone users in Indonesia employ the device on the go, while 79 percent of smartphone owners in Singapore use them to search for stores.

“Before clients buy anything, they will search for the product, read website reviews, or take note of comments and recommendations on blogs and social media networks that they access across devices,” Grey said.

This makes it crucial for any SME to have a website at the very least, Grey said.

If a company has no presence online, then customers simply can’t find them, she said. “Be there when they look for you,” advised Grey, who spoke at a recent workshop in Makati City on the topic of opening up market access for SMEs in the regional and global marketplace.

She also noted the importance of understanding the different ways that buyers use electronic gadgets. This requires that an entrepreneur know how to “custom-fit” marketing information according to the gadget used.

“Tweak your online marketing campaign with the right message across multiple platforms,” said Grey. For desktop users, focus on delivery services, or for mobiles, highlight store promos and prominent directions to your location.

“You also need to customize your marketing strategies based on other important data such as your target age, gender, or income,” she said.

Grey likewise said that SMEs should harness technology not just to make themselves easy to locate by buyers, but also to search for new markets online.

She highlighted statistics showing how a seller’s chances of increasing business can be enhance by an active presence online. There is a 45 percent chance of a buyer connecting with an online seller, a 68 percent chance that a buyer will visit the company, a 35 percent chance that a buyer will tell others about the company, and a 26 percent chance that a customer will make a purchase.

She further urged SMEs to explore the different analytical and marketing tools available to them to understand how visitors are using their websites and how data on external market trends can be used to their advantage.