November 26, 2015 | Sharon Cheong
The Philippine economy has much to offer investors and new business owners. The growth rate is consistent each year in spite of global economic distress. As a newly industrialized nation with vast natural resources, investors from all over the globe come each year for business opportunities. The Philippines is also a popular offshore location for large corporations with extensive manufacturing abilities. You may be ready to take the plunge and come to the Philippines to do business, but are concerned about how to get started.
How to Get Started
Some of the common questions that investors have relate to the Filipino culture. What if you say or do something considered offensive? Is it appropriate to cold-call potential clients and what should you say? When new businesses open in a neighborhood, people are curious. From day one, it's important to be professional in all dealings. Get out into the neighborhood and meet residents and business owners. Be friendly and always pass out your business card. Ask people to help you understand local customs better.
The Filipinos are very friendly people and enjoy helping neighbors and new residents. As you open up and meet people, your name will become known in the neighborhood and people will associate you with a friendly, trustworthy person. This common sense method can reap extensive rewards. With so much competition in the Philippines, it's important to build a business that can survive over the long-term. Honesty and hard work are still prized all over the world. As you build your reputation, you can count on word-of-mouth advertising which is often the best kind.
Marketing Your Company
Most experts agree that no matter how honest and friendly you are, it's necessary to do a certain amount of advertising. Marketing is often at least one-third of a company's annual budget. If you can afford it, then work with proven leaders in the field of marketing. They already have the experience that you lack and will help get your foot in the door at many places. If you have a small budget, you can run Facebook and Google ads targeted at a specific consumer or industry. Building your brand is an integral part of the process. Don't neglect Digital Marketing because more and more consumers are using their smart phones and tablet computers to shop these days. Make it easy for people to find out about your products and services. Help them by making the purchasing process very simple.
Social Media Advertising
Most professionals in the Philippines now understand how to harness the power of social media to reach a large audience of thousands. This can be successful, but it often takes time, great ads, and consistency. Create campaigns that get people excited about your brand. The most effective campaigns include combining social media marketing with mobile marketing. Start innovative trends within your industry that get people talking and always think long-term. Sustainable growth will enable your business to expand at a consistent rate each year.
Upscale Office Suites
Another very effective method of appearing larger and more successful is by leasing serviced office space in prestigious buildings in the Philippines. Servcorp Serviced Offices provide well-appointed office space with all the amenities a business owner needs. Meeting rooms and boardrooms are available for important meetings. These luxurious office suites are furnished and decorated to attract successful business owners.
You can enjoy all the perks of an expensive office with a dedicated receptionist and clerical staff, along with an in-house bilingual IT staff to ensure optimal communications and high-speed internet. In Manila, Servcorp provides managed office space in one of the tallest skyscrapers in the city, Tower One Ayala Triangle. Call + 63 2 368 5600 today to learn more.