70 million is the number of micro, small and medium-sized businesses (SMBs) that operate in Southeast Asia today. These businesses play a crucial role in contributing to Southeast Asia’s economic growth by also employing over 140 million people in the region.

In Singapore, SMBs account for approximately 70 per cent of employment and contribute to nearly half of the country’s overall GDP.

Yet, many of them struggled with substantial losses in sales and revenue due to the economic conditions that have taken place over the past few years. They were challenged in keeping up with engaging the consumer, including facing lower customer volumes at physical stores to forced closures due to high rent and low revenues.

However, not all has been lost. The region has become increasingly dynamic over the last three years. With more than half of Southeast Asia’s population under the age of 30, the rapid adoption of technology and people going online has not only contributed to a rising middle class but also the evolution of a mobile-first consumer, something SMBs can consider as they re-evaluate how they engage with customers for recovery and growth.

Engaging and entertaining the consumer through online platforms

Recent technological advances have reshaped the way consumers make choices. Technology is no longer viewed for business continuity, innovation of processes, or remote work; it also allows businesses to connect with consumers throughout the decision-making process.

SMBs looking to re-engage with audiences can consider utilising their existing tech resources to redesign how they conduct outreach on their products.

One way to kickstart this process is to explore marketing and advertising beyond the confines of magazines and billboards using social and content platforms. SMBs can take a page out of shoppable live stream experiences.

This format has taken the stage across the marketing world globally, allowing brands to interact with consumers from anywhere in real-time.

Also Read: 5 video marketing trends that marketers can leverage in 2022

It has also inspired new initiatives, including collaborations with popular creators, live runway shows – straight out of fashion week, luxury brands like Off-White, and even global virtual tours of museums.

SMBs can also look at using technology to creatively engage with consumers through a combination of shopping and entertainment. This is what we at TikTok like to call Shoppertainment, a marketing strategy that is redefining the consumer path to purchase.

Brands such as Sleepee have successfully engaged consumers with story-led ads that parody period dramas to highlight the benefits of their mattresses.

Sleepee’s entertainment-first strategy successfully grabbed the attention of local consumers, even amidst the hectic lead-up to the 11.11 Mega Sales Season, with their videos garnering over 2.6 million video views, fuelling record-high sales.

These instances are just some of many that highlight technology’s growing impact on engaging with the consumer and consumers’ optimism and enthusiasm for marketing innovation by businesses they resonate with.

Authenticity is key to bridging the gap between a business and consumer

Another consideration that SMBs need to pay attention to is building credibility with their customers. Over 72 per cent of consumers globally believe that reviews and testimonials submitted by previous customers are more credible than the brand sharing about their products in their content.

In other words, beyond getting online, SMBs need to humanise their brand experience with personable social content, such as sneak previews of manufactured products, experiences, and testimonials submitted by customers and creators about the brand or product or employee behind-the-scenes footage to boost consumer intimacy.

Many of us may have experienced this with brands or seen this take shape via witty responses to comments, regular re-posts of fun user-generated content (UGCs), and honest conversations with followers during live streams.

In fact, TikTok has increasingly become the go-to place for brands to engage with consumers authentically, and we have seen that 43 per cent of users try something or go somewhere new after seeing it on the platform.

Local Jagua body art class provider Henndrawn has forged genuine connections with their followers by kickstarting honest conversations about and shedding light on topics like self-love in their videos.

Beyond these, Henndrawn continues to create videos that respond to their followers’ comments and requests for tutorials, in addition to behind-the-scenes TikToks of the team preparing for workshops and online courses.

This only shows that taking a more open, authentic and playful approach to producing content on products and services via social media or online content platforms will succeed for SMBs in engaging the consumer today.

Tapping into the power of entertainment commerce

A good place to start creating these joyful, entertaining, and authentic experiences would be to keep the latest consumer trends in view.

Also Read: How small businesses can boost brand visibility via videos and messaging

In fact, a recent study by Flamingo highlighted how 61 per cent of TikTok users liked brands better when they participated in trends such as hashtags, trending challenges, and songs.

By reviewing the latest trends, businesses could identify opportunities to insert themselves into ongoing discussions to open up avenues for themselves to engage with new audiences while allowing them to discover their products.

Sustainable fashion brand Vintagewknd, showcases its latest offerings with videos inspired by popular films and iconic characters and accompanying their “fit checks” with trending sound bites on TikTok.

Beyond trends, brands can also jump on board some of the fastest-growing segments on TikTok, including gaming (+193 per cent YoY), travel (+545 per cent YoY), and education (+148 per cent YoY) through collaborations with other local stores or themed videos.

Furthermore, hashtags like #TikTokMadeMeBuyIt have also since been viewed 12.8 billion times worldwide as of May 2022. Businesses can leverage these opportunities to creatively reach out to the online shopping community whilst spurring consumers to discover their brand, engage and purchase, and eventually create organic product reviews about their recent purchases.

It is remarkable to see how technology has equalised businesses’ marketing and advertising opportunity to date. With all the diverse and creative formats, any brand can involve, connect, and engage the massive audience base currently available in today’s digital ecosystem.

One just needs to be aware of and empowered to leverage said formats to fuel the growth they can be proud of. In other words, the possibilities for more are endless, and there’s simply no business too small to dream bigger, better, and bolder.

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