Key Highlight
- TikTok for business will help small businesses to grow in the Philippines.
- COVID-19 pushed the companies to create their digital presence.
- According to International Data Corp.’s (IDC) 2020, Asia Pacific Small and Medium Business, 58.8 percent of businesses reported no earnings, while 28 percent had a more than 30 percent fall in revenue due to pandemic.
Pandemic pushing Small business towards online advertisements
According to International Data Corp.’s (IDC) 2020 Asia Pacific Small and Medium Business Digital Maturity report, 70.6 percent of the country’s micro, small, and medium businesses were forced to immediately halt operations due to the COVID-19 outbreak. According to the same poll, 58.8 percent of companies registered no profits, while 28 percent saw a decrease in sales by more than 30 percent. Investing in digital transformation may potentially assist businesses, especially SMEs, in meeting their business objectives. It has been discovered that digitally advanced SMEs are more efficient and can record higher sales than those that are late to transition to digitalization.
TikTok boosting the small business in the Philippines
According to the Digital 2021 report, Filipinos devote an average of 4 hours and 15 minutes a day to social media. Advertisers in the Philippines can now meet and connect with these diverse audiences through TikTok For Business. TikTok For Business enables small and medium-sized enterprises (SMEs) to be discovered and engage with the app’s consumer base, create their identities, and achieve their business objectives. These techniques are intended to assist marketers at each stage of the campaign production phase.
How Online advertisement grow business?
With the passage of time, online advertisement evolves at a steady pace. The Internet is used by over half of the world’s population, and people of all ages have access to it. Online advertising is primarily used to develop businesses on a global scale. It is all-inclusive, inexpensive, and easy to use. Furthermore, it offers many ways for both small and large businesses to increase their revenue in an efficient manner.
- Targeting the right audience– It is important to target the right audience to increase the sale of the business. Online ads target the right demographics. Internet advertisement platforms such as banner ads, social media ads such as Facebook and Twitter Ads, and video ads make it possible to reach your target demographic.
- Global reach– A company can promote its brand outside the region by using Internet ads to reach out to its target audience all around the world. With the aid of the Internet, it can quickly communicate with its target audience. The company will be able to target million of coustumers. Prospects can later become consumers, allowing you to increase your income.
- Access to data- Online analytics software to determine which tactics are working for the brand and which are not. Company will review consumer data, such as keyword data, and make the necessary adjustments. Company can quickly monitor conversions and assess the success of your campaign.
Challenges faced by small business
- Budget-Small companies face a digital marketing threat. Many local businesses have a tiny marketing budget and are unable to support large-scale digital marketing campaigns.
- Content creation-It is always challenging for small companies to create content. SMBs typically lack the personnel required to develop and sustain a robust content production schedule, which can make digital marketing challenging.
- Updating the technology- Staying updated on emerging technologies is one of the most difficult obstacles for SMBs and their digital marketing campaigns.
A most used platform for online advertisement
- Google ads: Google Advertising displays internet advertisements on thousands of websites in search results. Google Advertising benefits include the ability to target your advertisements based on geography, demographics, and other factors.
- Instagram: Instagram, provides you with access to a global audience. Instagram has 500 million users who access it every day. This app’s niche leans toward the heavily sought-after Millennial and Gen Z demographics. Instagram is a website with a lot of visual appeals.
Also Read:- How Small Businesses Can survive the rigorous COVID-19 Pandemic
