In the new normal era of digital literacy, to help the recovery of economies affected by the pandemic, all aspects of the economy are readjusting, including the micro, small, and medium enterprise ( MSME) sectors. MSMEs contribute 60.3% of Indonesia's economic growth, and they require special attention to be able to successfully continue contributing to Indonesia’s economy during these challenging times because MSMEs have been one of the most significant sectors that have contributed to Indonesia's economic growth.
With the implementation of the new normal policy by the government during the COVID-19 pandemic, MSMEs, despite facing many challenges in the field, especially after making difficult decisions such as reducing production or laying off employees, are expected to survive.
To maintain their survival, one of the strategies MSME entrepreneurs need to adopt is to reassess and find the right strategies for the current conditions to boost sales again. The questions to ask are “What are these strategies?” The following unpack eight pertinent answers to these ongoing questions.
The first step to take is to focus on the products you are selling because you need to fully understand the consumers' needs so that you can determine which products your business needs to offer. When you have made the determination, innovate, Improve the quality of your products, and ensure that the consumers are satisfied with what you sell.
After deciding which products to sell, the next step to take is to determine the products' selling price. Before setting the price, ensure that you have researched the prevailing market prices by considering the cost of raw materials, and other supporting costs. When you have done this, set a price that is profitable for your business, other than a competitive price that may attract customers but may lead to unnecessary losses.
The next step to take is marketing and promotion because failing to have proper marketing and promotion, won’t generate profits because people won’t know about your goods or services, regardless of how good your actual product is. Therefore, you must develop a good marketing strategy, and when promoting, ensure that the focus is on the content of your promotions, create creative and attractive content to grab attention, and entice people to buy your products. For example, you can market online through social media, and offline by distributing flyers, brochures, and so on.
Also Read: 5 Essential Things Small Business Owners Must Have
In running your business, as an MSME player, you must stay open to technological developments, because technology is rapidly advancing, and can significantly help you with your daily business operations. In today’s competitive environment, there are many applications and technologies available that you can take advantage of in running your business. Applications have been created to make it easier for you to run your business, such as Youtap’s POS online cashier app from Youtap Indonesia.
Technologically, there is an online cashier system, which offers numerous benefits, such as the convenience of transactions both cash and cashless where systemic and organized cash flow recording helps you to manage your business, and even if your business is small, there is no harm in utilizing technology to ensure that your business operates smoothly.
In this new normal era, to boost sales you must make the most of social media, in part because shopping trends have shifted from conventional brick-and-mortar methods to online purchasing.
Today, people purchase their needs and wants online through various social media platforms such as Facebook (Meta), Instagram, Line, Twitter (X), WhatsApp, and more. As such, there are many benefits to maximizing social media use, such as eliminating barriers related to distance, space, and time, and reducing costs in a minimalized space because online you don’t need a large space to showcase your products.
Moreover, social media can increase your brand's awareness, as well as help people learn about your brand, allowing you to build good customer relationships and offer them solutions to their needs. However, to make the most of what social media offers you must think creatively.
Innovation is one of the key, definitive steps that you must take to ensure your business runs smoothly. You must continually improve the quality of your products, and use emerging trends to inspire new ideas for your products and promotional methods; however, most importantly, to must meet your customers’ demands, needs, and desires.
Also Read: Closing in Business: Definition and Types of Techniques that Can Be Used
If you want your products to reach a larger audience, consider partnering with online resellers, because this will increase your sales and expose your products to more people. Additionally, you must build mutually beneficial partnerships, however, before establishing any partnership, you must set clear rules and systems for resellers to ensure there are no losses on either side.
The final step to take in creating a successful strategy is to join an e-commerce platform because running an online business seems incomplete without being registered on an e-commerce site.
There are many benefits when you decide to join an e-commerce platform, such as reaching a broader market, including international customers; additionally, you and your business will benefit from a proven and reliable system, and easy communication with buyers.
E-commerce in Indonesia has been known to offer many benefits to MSME players by helping them increase sales, so it is a good idea for you to leverage e-commerce for your business, today!
Wisma 46 Kota BNI Lt. 29 Jend. Sudirman Kav. 1 Jakarta Pusat, 10220
e-mail: halo@youtap.id
Whatsapp: 08111 500 523
Direktorat Jenderal Perlindungan Konsumen dan Tertib Niaga Kementerian Perdagangan Republik Indonesia
WA/Telp: 0853 1111 1010
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