The B2B sales in the Philippines have been experiencing a sales decline due to the covid-19 pandemic. To recover from this unfavorable condition, the B2B digital marketing company Philippines is ready to help the B2B industry of this region in conducting new sales approaches.
How the Covid-19 Pandemic Affects the Philippines, Particularly its B2B Sales
The Philippines is one of the countries in Southeast Asia that suffers from a serious economic slowdown caused by the pandemic of covid-19. During this pandemic, the GDP growth of this country fell -8.3%.
The trading partners of the Philippines also suffer from the economic slowdown, for example, Japan and China. As a result, there was a low demand for exports and caused the B2B sales to decline. This condition is worsened by the traditional sales approach in this industry.
Before the pandemic, Philippine B2B companies relied heavily on physical networking via trade events and face-to-face meetings. They also depend on long-term relationships with their clients. However, now these companies cannot conduct these approaches because of the outbreak of the covid-19.
Why Digitization is Important in the Philippines B2B Sales
B2B companies in the Philippines need to adopt a new sales approach, i.e. digitization in B2B sales, because of lockdown. According to the B2B digital sales report, going digital is important for the Philippines B2B businesses because:
Traditional Sales Approach no Longer Work
The traditional or direct contact sales approach is no longer works because B2B companies cannot conduct physical networking during the pandemic. Now, the B2B companies in the Philippines cannot hold trade events or meet potential buyers face to face.
As a result, the companies need to adopt a contactless sales approach via digital channels. This approach allows them to improve brand and products awareness that will lead to purchase and increase the company’s sales.
A Large Number of Internet Users
Southeast Asia has a large number of internet users and it is growing rapidly each year because 64% of its population is young people under the age of 40. Therefore, the digital transition in B2B sales can be done smoothly.
There are More Opportunities in B2B Business Digitization
Most B2B buyers conduct online research before purchasing a product and 68% of these buyers eventually purchase the product via online channels. In consequence, B2B companies will have more opportunities in gaining profits.
How B2B Digital Marketing Company Philippines Help Increasing the B2B Sales
The B2B digital marketing company in the Philippines will help B2B businesses in this region to perform a smooth transition from the traditional sales approach to the digital sales approach. In order to increase sales, the digital marketing company will assist the B2B businesses to acquire the key success factors.
Some of these factors are establishing a CRM database, creating effective online sales content, and prioritizing key stakeholders. With this assistance, B2B businesses will have a bigger chance to succeed and increase their sales during the pandemic.
Today is the best time for B2B businesses in the Philippines to go digital. This transformation may not be easy for some companies, but the assistance of a digital marketing company can make this transition easier to do.