PH 2023 Top Business Trend: Digitalization

Businesses in the country were suddenly presented with a challenge during the onset of the COVID-19 pandemic, which is how to keep their revenue stream going despite the total lockdown mandate. The only answer was by going digital and adapting to the technologies available.

Due to the pandemic, more small businesses have shifted to the digital way of trade or included online means to do their business. That has since continued to 2023 when more businesses are shifting to digitalization.

This shift has been a major trend for businesses since the pandemic started. More traditional businesses are seeing the need to embrace digital tools and solutions to stay relevant in their industry’s landscape.

Going digital means reaching more people, as not only businesses adapted to a more digital way during the pandemic, but also many people. By going digital, a business is able to reach even those they were not reaching back then through traditional marketing.

However, one of the challenges that going digital presents is the cost of training or hiring a specialist to do it if a small business owner is not able to adapt and cope with the rapidly changing social media and e-commerce landscape.

If a business is able to overcome this challenge, going digital will present more opportunities for a business to earn more and connect with its audience and create a community.

Going digital is now an imperative aspect of any business. The reach is far greater than traditional marketing means, the opportunity to create a community or have loyal customers is high, and the ease of doing business will be better. (GFB)