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Not yet a member? Sign-up here. FOR years, small businesses have relied on the magic of WOM (word of mouth) to attract customers. Yet with young Filipinos lately turning into entrepreneurs, too many small companies are creating too much buzz that customers now find it hard to tell apart the best from the bluff.
Consider these facts: small and medium enterprises (SMEs) make up 99.4% of the Philippine business sector, generating nearly 70% of the jobs available locally, and contributing more than 30% of the country’s gross domestic product. Now consider the clutter: most SMEs spread the word offline – advertisements, direct mail, flyers, calling cards, booth displays in exhibits and conventions, and merchandising like T-shirts and bumper stickers.
“With the onslaught of new competition and a tougher operating environment, you can’t expect to compete as a small business today without using an arsenal of marketing tools,” says Jonas R. delos Reyes, eCommerce Manager of Yehey.com, one of the leading Filipino Internet portals.
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