Packtica Kick-off 2019 Malaysia
Home / Press Blog / Packtica Kick-off 2019 Malaysia Packtica Kick-off 2019 Malaysia Innovating Security Printing & Discovering Solutions in Big DataWe are very proud that our product launching event together with an MoU signing ceremony has been a huge success and honorably witnessed by YB Dr Ong Kian Ming at Grand Hyatt Kuala Lumpur on the 23rd of August 2019. During the event, we have launched our first complete solution which consists of SecurePack, CheckNow and QDots. QDots is the latest available technology transfer from our China partner, Shenzhen Qianhai Quantum Cloud Code Technology Co., Ltd to Packtica as the exclusive distributor for all ASEAN countries. QDots’ is a unique and latest method for product identification and authentication. Upon the signing of the MoU, Bryant Kooh, founder and managing director of Packtica proudly announces the future prospects of expanding the business not only within the security printing sector but also IT and big data industry. Since we have already expanded our business operations to Thailand and the Philippines, we are in the midst of setting up an office in Indonesia, and Vietnam will follow. At Packtica, we always believe that everyone has the right to enjoy genuine and safe products. News references as below: English Malay(BH Online) Malay(Bernama) Chinese Facebook Share Via BACK TO LISTING You May Also Like
Cosmobeauté Indonesia 2019
Home / Press Blog / Cosmobeauté Indonesia 2019 Cosmobeauté Indonesia 2019 Cosmobeauté has been the only platform for the beauty trade professionals within the Southeast Asia region ever since year 2005 where most beauty shows are consumer oriented in this area. Launched in year 2005 in Malaysia, Cosmobeauté has stretched its arms to Indonesia (2006) and Vietnam (2008), gradually recognised as the leading professional beauty trade exhibition in Southeast Asia region. Following successful editions in Indonesia and Vietnam, Cosmobeauté series of exhibitions is expanding to the next exciting destination – Myanmar in 2014 to provide a premium sourcing platform for the beauty industry. Cosmobeauté has been continuing its commitment to be the most proven sourcing platform for beauty trade professionals to explore business in the spectrum of Aesthetic, Beauty, Cosmetic, Hair, Nail and Spa industry. In order to optimize the platform for networking and business opportunities, Cosmobeauté endeavor to facilitate connections between exhibitors, importers, suppliers and visiting buyers through various initiatives. With the lined up events planned over the days of Cosmobeauté, you will have chances to explore latest trends and products from within all segments of the industry. Cosmobeauté also promise strong participation of both national and international group pavilions which give you the globalized perspectives on emerging trends all around the world. Cosmobeauté will be the multi-dimension platform for both exhibitors and buyers to connect with each other for a whole new beauty experience! WHY YOU SHOULD VISIT? A perfect platform to discover potential business partner and source for international and local premium beauty brands from 13 countries Pre-arrange beaute meeting for buyers to source for the latest beauty products & technologies while discovering new business opportunities through face-to-face meetings Ideal for importers, retailers, manufacturers, wholesalers, distributors, beauty salon & spa owners supermarket & departmental stores to visit The leading annual beauty destination for trade professionals to witness and participate in skill competitions, conference & experience live demonstration, workshops & seminars But most importantly, Packtica will be at the most-awaited beauty fair of COSMOBEAUTE INDONESIA 2019 from 17th to 19th October 2019 @ Jakarta Convention Center (JCC) to provide our carefully crafted solutions to assist business owners in expanding their businesses. See you at our booth #G15 Share Via BACK TO LISTING You May Also Like
Packtica Visitation To Persatuan Insan Istimewa Cheras 2019
Home / Press Blog / Packtica Visitation To Persatuan Insan Istimewa Cheras 2019 Packtica Visitation To Persatuan Insan Istimewa Cheras 2019 Officiation of collaboration ceremony on 3rd of October 2019 @ Dewan KBS Firstly, Packtica would like to congratulate SJC Solex Corporation (M) Sdn Bhd (SJC Solex Corporation) for the successful officiation of collaboration ceremony between LPM Support and Institut Sukan Negara Malaysia. We would also like to thank SJC Solex Corporation for inviting and giving us an opportunity to introduce and share the implementation of our QR holographic labels on each of LPM Support’s product during the ceremony event. Being given the trade to assist LPM Support’s products in preventing and deterring counterfeits through our carefully curated holographic label is also a great pleasure. SJC Solex Corporation’s establishment in year 1994, LPM Support has been one of the world’s largest and fastest growing manufacturers and distributors of orthopedic equipment. Their goal is to design manufacture and market technically advanced products for injury prevention, injury treatment and performance enhancement. Considering LPM Support’s products may play a great role in preventing or treating injuries, it is important for the product to be genuine as it might affect the person’s health and physical support upon usage. A compromised or fake orthopedic equipment may not only lost its effect on treating an injury but it might further damage the injury. Hence, Packtica has offered our range of QR code holographic labels to prevent counterfeits, enhance consumer buying experience and provide better assurance for buyers. With our QR code holographic labels, LPM Support consumers can now scan & check its products by simply scanning the QR code labelled on each packaging to verify the genuinity of the product. Consumers can now move with confidence! Share Via BACK TO LISTING You May Also Like
Packtica’s All4Data For DSAM CEO’S Luncheon 2019
Home / Press Blog / Packtica’s All4Data For DSAM CEO’S Luncheon 2019 Packtica’s All4Data For DSAM CEO’S Luncheon 2019 DSAM CEO’s year-end luncheon was held at Eastin Hotel, PJ on the 22nd of November with the attendance of more than 60 CEOs and managing personnel. After a brief welcome and introduction by DSAM President, Datuk Tan Chong Guan, Mr Lim Kok Hing, co-founder of iPay88 presented the topic of Payment evolution, sharing information and analytics on e-payments and its future trends. Then, Managing Director of Packtica, Mr Bryant Kooh shared on topic All4Data. This sharing by Mr Bryant was more on what’s in the word ‘data’ for organisations and businesses. He reinforce the importance for businesses to grab the opportunity into the world of data before it is too late to stay ahead in the industry. An experience session for CheckNow’s instant raffle draw had also received overwhelming responses from the attendees on its practicality and instant results. Share Via BACK TO LISTING You May Also Like
Digitisation vs Digtalisation. What Are They?
Home / Press Blog / Digitisation vs Digtalisation. What Are They? Digitisation vs Digtalisation. What Are They? DIGITISATION VS DIGITALISATION. WHAT ARE THEY? As the approach of 2020, the digital transformation hype continues to persist, the terms ‘digitization’ and ‘digitalization’ are getting common yet confusing. This question is much deeper than just a question as many people are confused on the importance of digital transformation, while putting their businesses at risk. Now, these two terms have very different meanings, depending on which authority we are referring to. DIGITAL VS ANALOG INFORMATION FOR BUSINESS OPERATIONS Years back before the digital age, things were processed and made through hand and manual courses. Traditional printed newspaper was our primary source of information, but now, we have access to global news with a click of a button. This is due to the continuous evolving network of digital revolution. This process of turning analogue into digital form is called as digitization. In businesses, digitization is important when dealing with analog information in ‘paper-based’ processes or hard copies of information. A few other examples of digitisation are as such: Traditional bank statements are sent via snail mail but now that it is being sent via e-mail or through phone app. Recording and storing patient’s medical information into the computer instead of hand-written files Personal identification details are stored into chip based identification cards to replace paper birth certificates to store much more data, safer and convenient. This transformation from analogue to digital form has helped in ‘green environment’ as we have used less papers and made information more conveniently accessible. HOW DIGITALISATION MODERNIZE BUSINESS OPERATIONS While digitisation is the conversion of information and data from manual to digital form, digitalisation is more of the process and how it will impact the society, organisations and businesses. According to Gartner’s IT Glossary, “Digitalization is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities. It is the process of moving to a digital business.” The very first changes we see in this is how employees mark their attendance for work. Traditionally, punch card machine and paper punch cards are used to mark the time-in and time-out of an employee but now that it has transformed into fingerprint machines that recognises the employee’s fingerprints to prevent fraud of attendance. Online business management systems have also been introduced to ease the supervision of work processes and completion of tasks of the employees. While those are the internal transformation that will largely change the operation of an organisation, communication methods with outside parties have also changed from using snail mail and telephone calls to e-mails, direct messaging and online conference calls. Digitalisation is transforming the world of work as the acquisition of digital skills have now become a prerequisite for individual, industry and regional success. Some other examples of digitalisation are: AI cooking machines that automatically cook hot food with minimal help from human being by only needing to replenish the ingredients. Self-service checkouts at hypermarkets instead of cashiers E-commerce websites to replace pestle and mortar shops. As digital technologies being implemented into processes and businesses, people’s jobs change. Imagine how a manual process of packaging by human hands are to be replaced with AI arm that can work 24/7 non-stop will impact the quantity and time frame of the whole process. And now with the latest technology in manufacturing which is the on-line vision system, the product on the conveyor belt will be scanned and all printed information such as QR codes, will be captured through a camera lens and the information captured will be gathered and sent into the system by batches according to the settings set. Faulty products will automatically be separated for manual examination. This on-line vision system has largely changed the manufacturing industry’s efficiency, production rate and quality control of products especially in mainland China and it has brought big data collection to another level. Since Packtica Sdn Bhd has been offering products and services related to QR codes and data, they do provide the on-line vision system for manufacturers within the ASEAN region too. Besides that, they also offer a huge variety of practical solutions for big data collection, anti-counterfeit, price dumping and parallel import. Check out their products & services HERE. However, Malaysia might not be on the fast track yet to receive these sets of technology in manufacturing, we must be prepared and accept that big data is the way to go. Businesses that has collections of data will surely be ahead of its competitors. References https://www.timico.com/digitisation-vs-digitalisation/ https://www.google.com/amp/s/www.forbes.com/sites/jasonbloomberg/2018/04/29/digitization-digitalization-and-digital-transformation-confuse-them-at-your-peril/amp/ Share Via BACK TO LISTING You May Also Like
Your Product’s Packaging Is More Important Than You Think. Here’s Why
Home / Press Blog / Your Product’s Packaging Is More Important Than You Think. Here’s Why Your Product’s Packaging Is More Important Than You Think. Here’s Why YOUR PRODUCT’S PACKAGING IS MORE IMPORTANT THAN YOU THINK. HERE’S WHY When it comes to your product’s packaging, level of protection, cost and labour productivity usually become the major factor for decision making. Surely that these are important considerations but think deeper. Your choice of packaging can cause huge impact on consumer’s perception towards your product and company as well as their buying decision. Here’s how: BE DIFFERENT FROM YOUR COMPETITORS Look at the shelves. There are hundreds and thousands of products stacked upon each other, competing to catch as much attention as possible from each pair of eyes. Ranging from mono to multi coloured bags and plastic to paper boxes, your brand packaging has definitely to be different to win the race. According to Ahmad, Nawaz and Billoo, Mohib and Lakhan, Asad Ali on the Effect of Product Packaging in Consumer Buying Decision, different packaging cues affects how a product is perceived. Often the packaging is perceived to be part of the product, it can be difficult for consumers to separate the two aspects such as packaging colour, design, and pictures can influence how a product is perceived. PACKAGING COLOUR AFFECTS CONSUMER BUYING HABITS Your product packaging’s colour plays a role while the consumer is in decision making. Our brain reacts to colours in many different ways, so be aware when choosing what colour to use on your packaging. For instance, green has always been used to represent eco-friendly packaging and organic in the F & B sector. Green has also been the universal sign for “correct” while red as “wrong”. Colour experts cite products with more colour added to the design as less “sophisticated”. Hence, big brands like Apple Inc choose to stick to a simple and monochromatic colour scheme. However, it is best to study and choose the best colour to use according to your product and target audience. PRODUCT PACKAGING CAN BE A VERY USEFUL MARKETING TOOL Your product’s packaging can be very effective in advertising your brand and product through in-store and online. Branded products can gain better recognition and loyalty while including information such as manufacturer details and instruction of use are added points to gain confidence. Also, consider adding more details about your product, its certificates or awards (if any) to obtain trust. There are many ways to display information and details but we think that 3M’s ear plugs packaging by Scholz & Friends Berlin GmbH is doing it in a very creative way to express, attract and retain attention. PACKAGING AS PART OF YOUR BRANDING STRATEGY Think about McDonalds. All its products packaging are easily recognisable with the letter ‘M’ coloured in yellow. If the same font and colour of letter ‘M’ were to be printed onto an empty can, it would very likely be recognised as a McDonald’s product. Same goes to Apple Inc. and Tiffany & Co. Apple uses minimalistic designs while for most people, the iconic robin’s-egg blue box is more recognizable than the Tiffany jewellery itself. These industry leaders have one thing in common which is being very memorable. GOOD PRODUCT NEEDS GOOD ARMOUR Last but not least, let us not forget about the main task of packaging; to protect the product. Since everyone knows how a carton box helps to contain and protect white papers from dropping and crumpling, let’s learn about connected packaging. Connected packaging is the packaging with links or could be connected to additional information/ details that is not printed onto the packaging via QR code, RFID, Near-Field Communication (NFC) or Augmented Reality (AR). Packtica Sdn Bhd has been providing various types of packaging with printed QR code for many years, protecting hundreds of businesses from counterfeits, price dumping and parallel imports within the South East Asia region. For example, traditional electrical appliances require warranty registration with hand-written warranty cards returned to manufacturers via snail mail but now with connective packaging, consumers can easily register their warranty through our online authentication platform- CheckNow by scanning the QR code provided on the packaging. This external platform could be used to display your other products, methods of use, full list of ingredients, and so much more to the consumers. Global players are starting to realise how to motivate consumers to establish and maintain stronger connections with their brands. At the very beginning, connected packaging was just a “technology push” but now that we are starting to see “consumers’ pull” as the newer generation increases their influence and purchasing power. All in all, newer technologies have become more available, affordable and adaptable to help your business in many ways whether your brand needs to connect better with consumers, provide an innovative point of difference, or simply to stay up-to-date and relevant. References https://retailminded.com/4-reasons-why-product-packaging-is-important/#.XiaPof4zbIV https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2436946 https://www.repsly.com/blog/consumer-goods/how-your-brain-reacts-to-colors-a-retail-sales-packaging-guide Share Via BACK TO LISTING You May Also Like
What Is Variable Data Printing (VDP) & Why It Is Important For Your Business’s Growth
Home / Press Blog / What Is Variable Data Printing (VDP) & Why It Is Important For Your Business’s Growth What Is Variable Data Printing (VDP) & Why It Is Important For Your Business’s Growth While it is not a surprise anymore to receive mailers or brochures with your name printed on it, many people are still awed by seeing their names on jars of Nutella and bottles of Coke. And that personalisation campaign have boosted 7% increase in sales for Coca-Cola in 2011. According to the Variable Data Printing Labels Market Growth report, it has also earned more than 18 million media impressions, an amazing increase of 870% on its Facebook site, with page ‘likes’ growing by 39%. HOW TO MAKE IT HAPPEN TO YOUR PRODUCTS AND BRAND? The core power of VDP (also known as VDP Digital Imaging) Giving each of your products a unique digital identity may be the best benefit of VDPWhile VDP enables each and every packaging a unique design/ QR code, in another terms is that each of your products has its own identity. With a running or random serial number with QR codes printed onto each packaging, products tracking & tracing can be easily done. Supply chain analytics enables business owners to understand and arrange the lifecycle of their products, supervising the quantity of products for each agent/ resellers to control stock distribution and also curb price dumping issues. Increasing consumer engagement to drive better salesOn the other hand, with QR codes that are accessible to mass consumers, the QR code could be used to lead consumers to other platforms such as webpages & social media sites, download an app, dial your contact number and view your business location. The longer and more consumer engagement could be better for your business to increase exposure, understanding, communication and most importantly, sales. Other than being able to share additional information, QR codes could also become the point of interaction for consumers to enhance customer experience through gimmicky digital advertisements such as Jack Ma’s special message in a bottle. Consumer’s knowledge on genuine products as important asWhen it comes to branded and popular products, counterfeit is not an unusual word. It is easy for you as the brand owner to get know of and differentiate between the real and fake thing, but how would your consumers know? Many of your consumers may not even know there are fake products circulating in the Variable Data Printing Labels Market Growth before they find the products faulty or harmful. By then, your brand’s reputation will be tarnished and recovery will be difficult. So, take actions before they hit your products and brand. There are small start to prevent counterfeits such as special security labels or stickers for added protection. Providing QR codes for your consumers to scan and check is even better to largely increase their trust and confidence with you. Design variations by VDP Product differentiation that connects with consumers on a personal levelLooking back at the Coca-Cola’s ‘Share a Coke’ campaign, ever wondered how long did they took to print all different names on the individual bottles? Much shorter than you can imagined, all thanks to the latest VDP Digital Imaging printing technology; variable data printing. With VDP, an excel sheet containing thousands of different data could then be printed out onto individual packaging as fast as 3450 multi-coloured and design sheets per hour. That might be faster than your ordinary offset printer The new hit in packaging: Diversity While you might think that fancy coloured and designed packaging are difficult to sustain and you may think that your designer might run out of ideas in designing them. The answer is: NO. But what is VDP? VDP has set the digital printing bar high by enabling random or different designs to be printed onto each packaging for a unique experience as per the Variable Data Printing Labels Market Trends. With mosaic, we use one seed pattern or file that is automatically randomised to print different designs onto each packaging. How so? Rotating, transposing and zooming the colours and patterns of that file helps to create unique individual designs. Partner with a digital printer for your amazing VDP project Variable data printing or VDP Digital Imaging are only available through digital printers that offers the prestigious technology. At Packtica, our clients get to enjoy all of the solutions VDP has to offer with a low minimum order and fast turnaround time. This enables you to be more reactive to Variable Data Printing Labels Market Trends, create amazing engagement and packaging for your consumers. Talk to us now to see how you can have the best packaging with optimum functionality for your beloved products and valuable consumers. References https://econsultancy.com/digital-marketing-campaigns-coca-cola/ https://blog.digimarc.com/ArticleDetails?UrlName=Five-Ways-to-Utilize-V… Share Via BACK TO LISTING You May Also Like
How Does A Pandemic (Currently Covid-19) Affect Businesses?
Home / Press Blog / How Does A Pandemic (Currently Covid-19) Affect Businesses? How Does A Pandemic (Currently Covid-19) Affect Businesses? The Covid-19 pandemic has disrupted all aspects of the business chain from the ability to continue manufacturing and producing goods to delivering products and services to consumers. Many companies will close their doors and jobs will be lost be it temporarily or permanently. Most businesses for non-essential items have to be fully halted during the lockdown/ MCO period which could last up to a month or longer. Employees are barred from getting back to office to work. Millions of people are forced to stay at home and are not allowed to go outside unless with valid reason. Important meetings and gatherings are banned to uphold social distancing and prevent sporadic spread of Covid19 Festivals and international conferences have to be cancelled due to restriction from traveling. The 2020 Summer Olympics in Japan have to be postponed. Certain essential items are being manufactured at maximum capacity but still unable to provide to the whole nation at once. If the pandemic continues for several more months, the World Travel and Tourism Council (the trade group representing major global travel companies) projects a global loss of 75 million jobs and $2.1 trillion in revenue While it remains to be seen how this crisis will impact all sorts of businesses in the long term, it is interesting to explore changes and opportunities in the online and technology industry. “The Chinese use two brush strokes to write the word ‘crisis.’ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger- but recognize the opportunity.” John F. Kennedy, who lived through the Bay of Pigs (1961-62) crisis. The Covid-19 pandemic has changed many of our daily activities as consumers and restricted how businesses operate. For individuals, the Movement Control Order (MCO) requires all except those in essential services to work from home. Keeping our social distances and limited trips for essential groceries or health appointments have altered consumer’s behaviours. All businesses are also affected by these changes in government restrictions and consumer consumption behaviour. Across different sectors, we can see huge varying impacts from buying fresh produce from the morning market to ordering it online and meetings are done online. INFLICTING TECHNOLOGY OVER REGULAR BUSINESS OPERATIONS Being barred from going to the office has led millions of people working from home. Communication methods have changed from physical to virtual and through a screen via online communication tools such as Google Hangout, Microsoft Team and Zoom. Watch how we worked from home and fought through all the distractions on the below video; Book a Zoom appointment with us today for free consultation While that’s for communication, the real estate industry has taken it to another level by offering property visits without leaving your house through Augmented Reality technology. Not only that, you can also visit Central Park of New York and Le Musee du Louvre of Paris from your seat at home. You could also visit Van Gogh’s museum, visit Prague’s castle or even take a stroll through the Vatican. Meanwhile, the growing need and demand for remote interactions during this pandemic has highlighted and potentially accelerated earlier adoption for a faster, better technology; 5G. Two key areas in need of the lightning-fast speeds, increased connection density and near-instantaneous communication are teleconferencing and telehealth. These two sectors have become critical for enterprise operations during this pandemic. While 5G might largely change the way we live and do things, people and businesses must first be willing to adapt to newer, more reliable technology. For instance, QR codes were introduced years back but people in Malaysia are just beginning to pick that up and implement them into their businesses. As such, Packtica provides a wide range of solutions from variable data printing to online authentication systems where it will be able to help you slowly transform your traditional operations to a more trendy and secured business. A CATALYST FOR ONLINE BUSINESSES Social distancing has led to a massive growth in consumers taking up the online shopping on various e-commerce sites. There has been a clear evidence of drastic sales drop in physical stores but maybe not so for online businesses. The consumer’s buying behaviours are also likely impacted by the panic buying trends and changing perceptions of what purchases are necessary during this hard time. In the aspect of panic buying, prices have surged to more than 100% for 3-ply surgical masks in Malaysia from RM45 to RM120 per box of 50pcs. Low availability in physical stores and fears around the virus have also sent consumers flocking to the internet to find extortionate priced hand sanitisers and infrared thermometers. What’s worse is the scammers are working 24/7 and grabbing the opportunity to cheat consumers out of their anxiousness. That’s a down point for buying online but there’s always a solution to it. Hologram stickers/ labels may be the basic protection against fake products but for Packtica, we do not stop there. Our QR codes are complemented with our in-house online verification system for ultra-protection on your goods and brand reputation against fraudulent activities. *Let us demonstrate how our online authentication system works On the other hand, it is interesting to see consumers continuing to purchase what may be classified as non-essentials through e-commerce sites. DPD noted growth in online shopping deliveries in Ireland with increases of 45% in clothing, 45% in cosmetics and hygiene products, 200% in electronic goods and others. Relatively, usage on social media platforms like Facebook, Instagram and TikTok has largely increased and longer screen time. Online streaming services such as Zulu, Netflix and Amazon Prime have also seen a surge in subscriptions as consumers are spending more time at home. With higher screen time, does this lead to a golden opportunity for the online marketing industry? On the other hand, being able to analyse and manage the threats posed by a pandemic is critical for your business survival. A business continuity plan can help you handle the impacts of a
The Importance Of Business Continuity Plan And How To Make One
Home / Press Blog / The Importance Of Business Continuity Plan And How To Make One The Importance Of Business Continuity Plan And How To Make One A business continuity plan is vital for every business. It helps you to set out how you will prepare and respond as well as continuing your operations after the pandemic. Nothing should be more important to your business than to reduce the losses and minimise recovery time when a pandemic hits. Being able to analyse and manage the threats posed by a pandemic is critical for your business survival. A business continuity plan can help you handle the impacts when a crisis hits. A comprehensive business continuity plan shall detail your business’s risk management strategies and business impact analysis. It shall describe how your business intends to respond to an incident, specification of a recovery plan and defined policies and procedures for managing staff and communication during the crisis. As part of the planning process, you will need to: Identify your core services and what is needed to sustain the supply chain Identify arrangement for your employees such as telecommuting, cross-skilling & succession planning Develop a communication strategy for employees, customers and suppliers Protect the health & safety of your employees Consider your financial implications such as cash flow, cost increases and insurance Identify contingency plans for the unexpected events Schedule how the plan will be tested and updated. Prevention: Risk Management planning Risk management planning incorporates the prevention element that identifies, assess & develop strategies to manage risks. 1. ASSESS – The first step is to assess your critical business activities such as key services, resources, staff and things that could affect all of your critical business activities. 2. IDENTIFY – Identify where, when, why & how are these risks are likely to happen on a scale basis and its consequences. Here’s how to help you identify; Ask yourself if these risks are internal or external? Who might be involved or affected by these risks? Ask yourself ‘what if’ to find out more accurate answers Brainstorm with people from different department to get different perspectives Consider worst case scenarios to spot smaller risks part by part. Quick tip: Use mind map/ flow charts to develop a bigger vision and it’s easier for you to add answers easily 3. DEVELOP STRATEGIES – Develop potential strategies to avoid, reduce or transfer risks that you have identified by; Evaluating your risks – how severe are them and what are the actions can be taken to avoid and treat them? Draw out options to deal with unacceptable risks such as the method of treatment, people who are responsible for the treatment, costs involved, benefits of the treatment, the likelihood of success and ways to measure success. Avoid the risks when possible- you may choose not to proceed with the activity if risks are possible. Reduce the risks by having a QC, audit or staff training. Transfer the risks by shifting some responsibilities and cross-training staff, identify alternative suppliers, practice traditional ways of working and more… Adequate insurance for your business and staff might save you during a crisis. Business Impact analysis (BIA) While BIA is quite similar to risk management planning, a BIA helps to determine what most important activity for your business is and how long your business could stay afloat without these activities. To prepare a business impact analysis, you will need to identify; The resources needed to support each activity The impact of ceasing to perform these activities How long your business could cope without these activities To identify these answers, here’s a few key questions that you can ask yourself’ What are the daily activities conducted in each area of my business? What are the long-term/ ongoing activities performed by each area of my business? How important are these activities to my business? (on a scale basis) What are the potential losses if these business activities could not be performed? How long could each business activity be unavailable for (either completely/ partially) before my business would suffer? Do these activities depend on any outside products or services? Incident response plan An incident response plan should contain all the information you will need to respond immediately prior and after an incident/ crisis in terms of containment, control and minimising impacts. The following elements should be in your incident response plan; Business continuity plan activationOn the front section of your business continuity plan should include a clear statement of what circumstances should the plan be activated and also the details of the key person/ staff and their substitutes to authorise the activation of the plan. Incident response teamIdentify and state the key responding persons and their roles handling the incident/ crisis as well as their substitutes. Communication planPlan the communication methods and timings needed to keep everyone safe while getting your business running in the event of an incident/crisis. Contact listList down all your internal staff & their family member’s contact details, emergency services and external contacts such as your suppliers and clients. Recovery plan A recovery plan helps to pave the steps to take after the incident/ crisis to help your business operating again with minimal disruptions and shorter recovery times. Time frame for recovery The time frame shall be realistic in order for your business to run normal again Create a time frame based on critical business activities in BIA Assign a recovery time objective to each critical business activity Develop recovery strategies Prioritise critical business function Designate a recovery team (just like your incident response team) Review your emergency kit (shall include key documents that are essential for recovery) and contact list Maintain communication with your external parties such as suppliers and clients Identify alternative suppliers/ facilities and other equipment that can be used Keep your business operating Prepare emergency cash flow or opt for internet banking Reduce costs if possible during the incident/ crisis Consider different business strategies or models. If going left leads to nowhere, then try going
How Businesses Survived COVID-19 By Utilising The Internet, E-Commerce & Online Marketing
Home / Press Blog / How Businesses Survived COVID-19 By Utilising The Internet, E-Commerce & Online Marketing How Businesses Survived COVID-19 By Utilising The Internet, E-Commerce & Online Marketing THE IMPACT OF COVID-19 ON BUSINESSES With higher screen time during the lockdown of Covid-19, does this lead to a golden opportunity for embracing technology and online marketing amongst businesses? Almost no business that is unaffected by the pandemic, those that suffer most are SMEs that may not have the capital to stay afloat and companies that relied heavily on physical stores and face-to-face interactions such as beauty salons, clothing stores, pubs and bars and yoga studios. The instruction for non-essential services to close down amid the pandemic, producing high revenue losses and economic downfall. Fortunately, it is 2020 and technology advancement is here to help. All businesses from neighbourhood yoga studios to multinational luxury companies get to support its business through digital marketing. While lockdowns have not reduced the needs and wants of consumers, what businesses have to do is to change their way of reaching their audiences in order to continue running their businesses. Embracing e-commerce and digital marketing has been achieved by many companies during the pandemic and many of them thrived better than their physical stores. HOW TO EMBRACE TECHNOLOGY AND GO ON-LINE Covid-19 has changed the way consumers shop. Before the pandemic, everyone knew exactly which local business sold the best artisan patisserie or handcrafted organic beauty products in town. Now that these businesses have to close their doors due to their industry being deemed non-essential, no one really knows who is still in business and where they should spend their money to get them. It’s time for these affected businesses to make the change in evolving to; 1. Do business online Signing up for e-commerce platforms such as Lazada and Shopee is also a smart decision to keep the business running. Convenient, available 24/7, home delivery and easy payment has made e-commerce platforms a shopping heaven for almost everyone. 2. Revive neglected online assets like websites and social media profiles Websites and social media platforms shall be turbo charged with important information whether the business is still in operation, operation hours, contact methods, as well as changes in products and services provided during the lockdown. 3. Communicate with your customers Now when your website and social media platforms are running again, the next step is to start a dialogue with your customers and keep it rolling. For businesses that never collected customer email addresses or contact information, it’s time to build connections through CheckNow that are very important and critical to business continuity and keeping a healthy customer relationship. CheckNow is not only an online authentication platform but also your best business buddy 4. Get started with SEO marketing While consumers are avoiding purchasing things from malls and shopping centers, many businesses have seen a strong uptick in their brand’s SEO with significant increase in their organic search visibility from January to March 2020. The message is clear: it’s time to invest in, not cut back on SEO. Not only is it one of the most cost-effective digital marketing strategies, but it’s also delivering proven results amid the pandemic. Recommended steps for building a high-impact SEO strategy during COVID-19 include: Publishing content designed to build trust and loyalty. Proactively managing the corporate web presence. 5. Creating advertisement campaigns online Running an online advertising campaign can be overwhelming for many companies that have always thrived from word-of-mouth. While they can ask customers to tell friends and family that they’re still in business, an online campaign can spread the news much faster, and with lesser effort with these tips: Smart bidding in search enginePPC is an advertising model that lets businesses insert ads in search engine results for their chosen keywords, which they have to bid on in order to win placement. The most common options are Google Ads and social media ads. Many advertisers are benefiting from Google’s smart bidding strategies, which use machine learning to optimize their bids for conversion. Content marketingContent marketing is an indirect form of advertising, but a highly effective way to connect with a target audience. When businesses create and share interesting and insightful infographics, videos, blogs and other content, people will be more likely to engage with the brand, provided that the content is regularly updated so that it remains relevant. CouponsMost customers find coupons irresistible, whether they’re in print or digital form, which is why they’re an essential marketing tool until today. 6. Shifting daily operations online Thanks to many online tools like Zoom and Google Classroom, there are very few businesses that cannot shift their daily operations online. With advanced technology, employees, teachers and everyone can communicate and hold meetings online from anywhere. Moreover, businesses can make use of these free-to-use tools to: Take orders/ support customer service via email, live chat or video calls. Webinars can be held to educate students or clients anytime and it could be recorded for replays and sharing on social media platforms for bigger coverage and exposure. Online and cashless payments can be made anytime, anywhere to complete a deal. THE WORLD IS CHANGING FASTER THAN EVER On the other hand, bringing your business from offline to online is also a vital move for every business in the coming years. Promoting your products and services online allows potential customers to get to know you anytime, anywhere as long as there is internet connection. It is also a competitive advantage to provide online and delivery services for customers such as busy mothers who have a child to look after as well as the elderly and disabled people who are not convenient to grab it from your physical store. However, it is likely for many to use the internet for shopping, gaming, keeping in touch and other activities will have become a habit especially on the younger working generations. It could well be that consumers emerge from the crisis