As the world continues to fight against the Coronavirus pandemic, many businesses are struggling to stay afloat – and the postponement or cancellation of trade shows and exhibitions is limiting trade and business networking opportunities around the world. Although governments are launching new policies to support enterprises (like the HKSAR Government’s HK$30 billion Anti-epidemic Fund), what else can businesses do to ride out the economic downturn and to stay relevant in the aftermath?
Benjamin Chau (Deputy Executive Director of the HKTDC) explained that online promotions were the key to SMEs adapting and overcoming current challenges. With the majority of consumers avoiding brick and mortar stores and doing the majority of their shopping online, introducing customer loyalty programmes or online promotions are a great way to encourage repeated spending. As global consumers spend increasing amounts of time at home, it’s a prime opportunity to upsize social media branding efforts and increase customer engagement.
To help enterprises increase their competitiveness and develop new client bases, Mr. Chau also announced the launch of HKTDC’s new advisory and training support programme – providing SMEs with the necessary platform to transition from outdated business models towards more adaptive models.
For business owners interested in HKTDC’s entrepreneurial seminars (involving topics like business needs, digital and social media promotions, content marketing, search engine marketing and more), Mr. Chau noted that many will be hosted live via webcast. Here is a recap of a previous webcast on digital marketing for SMEs.
Click here to learn more strategies for SMEs to handle economic challenges.