Entrepreneurs, new and old, constantly seek innovative ways to drive growth and capture the attention of their target audience. According to the Philippine News Agency, the country boasts a burgeoning middle class with increasing purchasing power. The most in-demand products are household goods, with experts predicting the market to generate $4.8 billion in 2024.
Despite the promising landscape, companies with limited resources may struggle to keep up with the competition. Hence, it’s critical to research marketing strategies for a small business in the Philippines.
Fortunately, there are plenty of marketing strategies for small businesses if you’re looking for ways to elevate your brand. Here are some small business growth strategies you can add to your playbook.
5 Proven Marketing Strategies for Philippine Small Businesses
The best marketing strategies in the Philippines resonate with local audiences and differentiate your business in the industry.
1. Influencer marketing
The Philippines has 86.75 million users on social media, making the platform the perfect avenue for influencer marketing. This marketing strategy involves collaborating with personalities whose significant social media following you can leverage to promote products or services.
By tapping into the credibility and reach of influencers, you can amplify your brand message and connect with your target audience. For instance, GRWM Cosmetics partners with influential figures on TikTok, such as Marjorie Maroket and Norikuh, for its lipstick and lip tint releases.
However, influencer marketing comes with challenges. These may range from finding the right influencers whose values align with your brand to measuring the ROI of your campaigns. Remember to thoroughly research potential influencers, establish clear goals for collaboration, and track key performance metrics.
2. Video marketing
The popularity of YouTube, Facebook, and TikTok gives you and other small businesses many opportunities to showcase company offerings creatively through videos.
Video content lets you convey your brand story, demonstrate product features, and engage with customers more personally. In 2023, 91% of companies used videos for marketing, showing how effective it can be.
Among the most successful video marketing campaigns is Jollibee’s Kwentong Jollibee series. Part of it is its Valentine’s Day video, which reached 12 million views at one point. Here, the key takeaway is pulling at someone’s heartstrings with a feel-good story creates an emotional connection and positive association with your brand.
You might find video marketing a daunting initiative if you have limited resources or expertise. You could start with simple, authentic videos using smartphone cameras and then gradually invest in higher-quality production as you grow.
3. Mobile marketing
Mobile marketing presents a massive opportunity to engage with your target audience. SMS marketing and scannable QR codes are a few examples of mobile marketing tactics.
DataReportal shares GSMA Intelligence’s finding that 99.3% of the population have mobile connections. Done right, it can be an effective marketing plan for your small business.
In 2020, Megaworld Lifestyle Mall’s flagship Uptown Mall in Bonifacio Global City promoted its “Eat Out and Help Out” promo with a QR code. Scanning the code led customers to the full mechanics and list of participating restaurants.
The promo is that for every ₱1,000 a customer spent, Megaworld Lifestyle Malls would provide a meal to a frontliner. Acts of charity such as these make your audience feel they could make a difference and spread goodwill to the community.
Some of the issues you may face are compatibility across messaging devices and platforms as well as obtaining permission from users to send them marketing messages. To succeed, prioritize customer experience, deliver relevant content, and respect user privacy.
4. Online contests
Online contests are promotional activities where businesses invite participants to compete for prizes by liking a social media post, sharing content, or submitting user-generated content. These competitions can generate buzz, increase brand awareness, and foster community engagement.
A fitting example is Pancake House’s 50 tacos giveaway celebrating the restaurant’s 50th year in business. To get a chance to win, users must tag two friends and follow the brand’s Facebook page.
Running online contests requires careful planning to ensure compliance with platform guidelines and legal regulations. Remember to clearly outline contest rules, select prizes that resonate with your target audience, and promote the contest across multiple channels to maximize reach and participation.
5. Referral programs
Referral programs incentivize existing customers to recommend products or services to their friends, family, or workmates. Word-of-mouth recommendations are referral programs that can be a powerful tool for acquiring new customers.
You can offer rewards or discounts for successful referrals. If you get enough, you can have lower customer acquisition costs than traditional advertising.
However, implementing and managing referral programs needs clear communication, tracking mechanisms, and reward fulfillment processes. Try to design campaigns that are easy to understand and participate in while establishing fair and transparent rules.
Other marketing strategies
Small businesses in the Philippines can also benefit from content marketing, social media marketing, email marketing, and search engine optimization (SEO).
Content marketing involves creating valuable content to engage audiences, while social media marketing utilizes platforms like Facebook and Instagram to connect with customers. Email marketing remains popular for nurturing leads and driving conversions, and SEO enhances online visibility through website optimization.
Masterful Strategies Create Success
Marketing success entails choosing tactics aligned with your business goals, target audience, and resources. Whether it’s influencer collaborations, captivating videos, or engaging social media campaigns, deciding how to implement them is vital.
At Zenith Capital, we understand that fueling your marketing initiatives means having the financial capability to do so. As a lending company in the Philippines, our range of services, like small business loans, can help you grow your venture.
Contact us or apply for a loan today.
Rizza Templonuevo is not just an accomplished finance professional and business leader, but also a loving wife and a dedicated mother of two. With a passion for helping businesses grow and thrive, she brings her extensive knowledge and expertise as Vice President of Zenith Capital Credit Group Corporation to help countless SMEs and corporations across the Philippines access the financing they need to succeed.
When she’s not busy with work, Rizza enjoys immersing herself in the worlds of fashion and social events, as well as traveling to new and exciting places.
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