Brick and Mortar Businesses Go Online
Ever since the COVID-19 pandemic hit, there has been a call for transitioning brick and mortar businesses to digital. The Asia Pacific SMB Digital Maturity study conducted in the starting months of 2020 showed a positive consensus about the role of this transition.
14 countries and 1,4000 respondents from a variety of industries took part in this study. Cisco Philippines managing director Karrie Ilagan stated on Thursday: "Philippine SMBs are eyeing improved customer experience and service delivery through digitalization. Lack of budget and shortage of skilled talents are the key challenges for Philippine SMBs."
A few more problems she added to her statement were the absence of technologies, cultural resistance to change, and lack of inside into operation or customer data. Because of the pandemic, the Cisco managing director also said that companies rely heavily on telecommunications providers and that businesses should learn to utilize the use of the technology available.
One such business that relies on technology is that of Monic Rancap and her business of selling luxury bags. She states: "I should not lose my internet connection, especially when I upload my products online, so I always monitor my internet connection speed through an app. Low internet connection results in late receiving of messages (from potential clients) who inquire. That is a lost opportunity since that was the moment when they are eager to buy. When I miss those chances, they are no longer interested in buying the product.”
For her image quality is important so she buys the latest phone with the best camera features to get the best shots. She also uses an app to monitor the financial transactions going in and out of her business.
When the pandemic struck, the study discovered that 70% of SMBs have started their transition to digital methods of running their business. Of these, 62% of them consider staying ahead of the competition to be crucial. Different businesses have different priorities, some would like to invest more in cybersecurity, others in software upgrades, while others are into Artificial Intelligence, then another group is more into cloud services. It all depends on the type of services or products rendered by the businesses.
Google PH help SMBs
Getting a business listed on the front page of Google or any search engine is not an easy task and can take months of SEO work just to get done, if you're lucky; the business also needs a website. Facebook pages are okay but it does not have the same impact as an official website. Competition is tight. It was already difficult to surface on the front page of search results before the pandemic, now that more businesses have transitioned to digital platforms, the competition just got bigger.
But as far as the transition process is concerned, many small and medium businesses that were once mom & pop shops, as many as 14,000 in the MSME Caravan, just got added to the growing pool of competition. What is the MSME Caravan? This is a program started by Google Philippines in partnership with the Department of Trade and Industry (DTI), and the Department of Tourism (DOT).
The objective of the program is to help businesses in the Philippines to bounce back while the country is still experiencing the effects of the COVID-19 pandemic. This is according to the Google Philippines Directory Bernadette Nacario. She also said, “Economic recovery is a critical moment for the Philippines, and Google is committed to supporting the country through the best of our technology and programs like the MSME Caravan. We will continue to empower Filipinos and our partners with the right digital knowledge and tools so the benefits of technology can be harnessed for the safe rebuilding of our economy.”
By having a business listed on Google, businesses can reach a bigger audience than what they used before transitioning. A bigger audience means a potential source of bigger income as long as they can keep up with the competition.
Secure online lending in Robocash
If you are planning to transition and you need, let's say, money to buy a domain for your website or blog and you don't have the necessary funds, you can take out a quick cash loan manila from alternative safe options. Financial transactions conducted online are one of the safest ways to keep yourself from being potentially exposed to the virus. But where can you obtain a loan? Robocash.ph is one such place to find the finances you need.
Here is a brief list of requirements you need:
- If the applicant is a senior citizen, he or she must be 70 years old or below with another source of income. A monthly pension does not count so there must be another besides it. The work can be anything such as a business or a freelance job.
- The applicant has to be at least 21 years old to apply.
- The applicant must have at least two government-issued IDs, these IDs should be easy to get. Anyone who drives a car or has at least voted once should have either a driver's license or Voter's ID.
- The borrower must reside in the Philippines and be a Filipino citizen.
If you are interested and need more information about the types of loans available can read about it at the Robocash website.