Many local businesses were put in a difficult spot during the COVID-19 pandemic, to say the least. Due to factors including restrictive containment protocols, businesses, especially SMEs in the Philippines, were confronted with the dire need to adopt digital marketing solutions. If not, they risk closing their shops permanently.
In fact, data from the Asian Development Bank’s (ADB) survey assessing the impact of the pandemic on MSMEs revealed just how tough of a spot these organizations were in. Among their considered actions were to file for bankruptcy, employee layoffs and pay-cuts; coming only as a last resort after seeking external aid.
Thankfully, a year after the pandemic, SMEs began to see a small hopeful turn and found some footing in stabilizing their business with the aid of digital solutions. But even as it’s hailed as the saving grace of SMEs struggling to cope with the calamity the virus has caused, digital adoption and migration remains as a pipedream for many.
Even for those heading corporations, digital is a whole new terrain that’s difficult to master. What more would the challenge be like for the owner of an SME when, on top of the overwhelming amount of concepts and digital tools you’ll have to learn about, there are many other barriers to digital adoption for the typical SME in the Philippines?
As a digital marketing agency in the Philippines, we know the struggle to set up and gain footing all too well. It’s no walk in the park and sometimes, given how chaotic it can be, you can end up tucking your tails and abandoning your digital transformation.
But what makes the challenge of forging ahead worth it despite the difficulty, is the massive potential for business growth waiting ahead.