After waves and waves of economic disruption caused by the ongoing COVID-19 pandemic, small businesses are having to continuously adapt to the ever-changing “new normal”. Although long-term impacts on markets throughout the world are looking less than optimal, small businesses are statistically thriving like never before. But why?
Micro businesses are, for the use of a better term, macro in their ambition. Almost all are born out of a vision that is abundant in innovation and an understanding of adapting to market forces for practical necessity.
By putting an emphasis on digital transformation, MultiVerse Advertising has noticed a dramatic shift towards a digital-first era of advertising in Southeast Asia, most notably in markets that were once lagging behind, such as Myanmar and Indonesia.
Against All Odds
Micro businesses in Southeast Asia are thriving in a world of new normal market forces due to one thing – agility. Competing against all odds, they are better equipped to adapt than large multi-nationals as they leverage their small size to act nimbly in the face of unprecedented change.
Across Southeast Asia, many markets have been slow to adopt a more digital focus, primarily due to a divided market of switched-on and traditionalist consumers. In cash-focused societies, such as Myanmar and Thailand, switching to a primarily digital payment method has always been a challenge for both businesses and governments, however it is precisely what the new normal requires.
Over the last year, we have been working with numerous clients to reprogram their marketing strategies towards a fully digital approach – enabling them to stay active, agile, and adaptable during the pandemic.
Micro businesses in Myanmar, for example, have not only survived, but that thrived the pandemic so far with the help of technology providers who have opened the door to omnichannel solutions that engage the consumer.
Small village vendors have been able to grow exponentially, connecting with eCommerce platforms and expanding their market from a village of several hundred to a nation of 54 million.
As COVID-19 continues to accelerate these trends, micro businesses need to focus on the speed, safety, and convenience surrounding digital-first markets and contactless payment systems.
A New Model Market
Small businesses everywhere are showing why they’re still the backbone of the economy, and with relentless optimism, they are not just holding ground but moving and evolving forward with new energy and a renewed purpose.
However, small businesses throughout Southeast Asia need effective digital marketing to go with their adaptation into the world of eCommerce. Without engaging a digital marketing agency like MultiVerse Advertising, they run the risk of not gaining a foothold on the market before big businesses try to strongarm it back to the old normal.
A return to the old normal will spell disaster for small businesses, and therefore they need to be active agents in their own future success. MultiVerse Advertising has the tools and the creativity brands need to redefine their markets and make customers comfortable in today’s world – not leaving them begging for a return to yesterday. By communicating and engaging with customers on a digital platform in ways that work for them, small businesses can focus on flexibility in serving their consumers’ needs – forever changing the face of business and thriving well into the future, long after the pandemic subsides.
03 March 2021
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