It’s a Brand New World
It used to be that social media, broadly defined as websites and applications that enable users to create and share content or network on a social basis, were not taken seriously because they were seen to be informal and communal – with no commercial clout. However, as mobile and digital technologies become more accessible, and people are increasingly relying on them for every aspect of life, social media is now legit, and recognised for its ability to influence perceptions and sway buying decisions.
The growing figures bear testimony to the size of the e-commerce market. According to eMarketer, the B2C e-commerce sales worldwide has been growing consistently over the years, with the greatest hikes in Asia Pacific, North America and Western Europe respectively. In Asia Pacific, these translate to US$301.2 billion in 2012 to an estimated US$1.05 trillion in 2017. As companies are now selling to a new generation of buyers who are immersed in the cyber world, their business strategies must also be aligned.
The need to engage customers online – by establishing a presence in places where customers frequent, and using the channels they are familiar with and receptive to – is featured prominently in the recommendations in the three case studies here. Even though the projects focused on three different aspects of business – marketing strategies, business model review and brand strategies – the deep penetration of mobile and digital technologies has made it a critical consideration for all marketing programmes.
SMEs should not be hampered by their limited resources to explore new frontiers such as cyber space. With the UOB-SMU Asian Enterprise Institute (UOB-SMU AEI)’s flagship SME Consulting Programme, smaller companies can now receive top-notch, practicable recommendations based on solid data and analysis.
Our student-consultants are supervised by industry practitioners and UOB-SMU AEI’s managers. Using scientific methods – the hallmarks of the SME Consulting Programme – they will research and review data, and propose workable solutions to your business problems. With the clarity of youth, and as online consumers themselves, they will bring with them innovative ideas and some hands-on customer experience to the project.
Whether you are looking to strengthen your online presence, need a boost up to the next level of development, or have a puzzling business problem, come talk to us. We can help.
Sincere, Trustworthy: Arc Floor Pte Ltd
Arc Floor Pte Ltd was first established in Singapore as Cheap & Beauty Teak Parquet Pte Ltd, in 1974. Today, more than 40 years on, the company enjoys a sterling reputation with a name that is synonymous with quality wood flooring. Read more
Remaining True to the Skin: Pitta Patta
Pitta Patta was born out of 18 years of clinical naturopathic experience working with skin ailments and irritations in babies, young children and adults. Almost two decades on, the brand now has an established presence as an organic baby skincare brand in several countries around the world including the UK, Australia and South Korea. Read more
Unique, Personalised, One-of-a-kind: Pixodecor Pte Ltd
Established in 2013, Pixodecor is a marketplace for artists and an online platform for customers to personalise products by using their Instagram or Facebook photos. In 2015, the company decided to expand to an international online marketplace where artists and designers can sell their artworks and designs, by featuring them on products like mobile phone cases, bags, tee-shirts, laptop skins and others. Read more