This article was finished in collaboration with Facebook.
The previous 12 months has actually been a difficult time for many corporations, particularly small and medium-sized companies (SMBs). SMBs play a vital position in the Hong Kong financial system with 98% of its companies being from the sector. Many of those SMBs additionally function in the retail area.
Last 12 months, with lockdowns being carried out throughout town, many SMB companies knew they’d to beef up their digital methods by leveraging on platforms similar to social media, for instance, to attain a wider pool of potential prospects.
A current examine by KPMG, GS1 Hong Kong and HSBC titled “Retail’s Realignment: The Road Ahead for Omni-Channel in the Greater Bay Area” which zoomed in on Hong Kong’s retail scene – typically the playground for a lot of SMBs – additionally nudged gamers in this area to embrace digital marketing methods.
The examine discovered that almost all of the two,053 customers and 400 senior retail business executives anticipated a seamless transition from an in-store expertise to a web based one. Moreover, about 73% of Gen Z customers in Hong Kong mentioned they wished a swift response to product enquiries by way of on-line chat, and anticipated manufacturers to use tech, together with AI, to assist shortlist new merchandise.
While customers are clear in their wants, the examine discovered that retailers are struggling to sustain, with 39% of companies specializing in the mixing between bodily shops and on-line.
The Hong Kong authorities can be clear on the necessary position SMBs play in its financial system. One of the numerous programmes it created to help SMBs in town is a low-interest mortgage assure programme amounting to a possible HK$50 billion of help.
That mentioned, one firm in Hong Kong which has swiftly tailored its enterprise technique and embraced O2O marketing technique has been Four Seasons Teahouse, which was based by Vicky Lau, who works intently along with her brother and enterprise growth supervisor, Danny Lau.
In an interview with Facebook, in collaboration with MARKETING-INTERACTIVE, founder Vicky shared that through the pandemic, gross sales had been closely impacted at its bodily shops, particularly in populated areas similar to Mong Kok. As such, the corporate knew it had to pivot and concentrate on on-line gross sales and additional leverage the ability of social media.
Danny defined that social media has develop into a vital channel for the model to attain out to potential prospects and create a group. This has led to a lot of its present stream of shoppers and enterprise being generated from Facebook.
“Facebook performs an necessary position in constructing our model and is a bridge between prospects and the enterprise,” Danny mentioned.
Aside from this, Four Seasons Teahouse additionally works with HKTVmall and Watsons to allow customers to place orders on-line, and choose up the merchandise offline at their bodily shops throughout Hong Kong. This provided a versatile procuring expertise to customers.
Danny mentioned having a twin strategy, mixed with the ability of social, is a method the corporate will preserve pushing to meet the wants of its prospects.
Learn extra in regards to the instruments and sources to assist SMBs right here.