PR Matters
By Margarita Y. Locsin
SINGAPORE has just moved on from Phase 1 post-Circuit Breaker (the local, more politically and emotionally correct term for a lockdown) into Phase 2, which allows for schools to restart, stores to reopen, and some semblance of normalcy to return—all while wearing masks and continuing to keep safe distances from one another.
Such is the way Singapore has handled the Covid-19 Crisis, with precision and decisiveness that reassures those living within that things are under control. The Circuit Breaker and its subsequent phasing, was a means of instilling discipline and a sense of community among its people, and while it went through some teething pains, has, overall, succeeded in keeping spread in the general community down, ensuring life will soon (prayerfully) go back to normal….or, the new normal, as many are calling it.
But what is the new normal?
No one really knows what the “new normal” will look like, but everyone has an idea, everyone is speculating and, in my opinion, everyone is right to a certain degree. The new normal will entail change, adaptation and embracing of technology that is no longer new, but also no longer optional.
The changes to personal circumstances are obvious—masks are the new accessory of law, face shields or goggles, of choice, and social distancing is now the to do—but changes to businesses are less so. Many will have to embrace technologies and ways that were once shunned and seen as “mass” and “commercial” instead of the much valued personalized and bespoke.
To address questions of how best for businesses to rethink and rebuild, I sought the advice of Donna Lee here in Singapore. One of Singapore’s leading SME and franchise advisors, Lee has a long-standing reputation for internationalizing many brands and currently heads the International Franchise Community (IFC) (for more information, check out her site internationalfranchisecommunity.com), whose focus is to help franchises and SMEs navigate the global sphere. Her weekly webinars have been enlightening and encouraging—especially in these most uncertain of times.
Her last webinar focused on Globalization during Covid 19 and from which I have taken some key points, with her permission, to share with readers. While her focus is on retail and franchising, the reflections and takeaways offer advice for any business owner—from the self-employed freelancer, to a brand looking to grow overseas, and even some insights for the already big, but suddenly vulnerable, with the onset of Covid-19.
Of the new normal, Donna says, “SMEs will need to very creative in how they can best incorporate safe distancing, hygiene and safety measures while maximising efficiency and productivity at the same time.”
With many more businesses having to operate online and contactless delivery becoming the norm, new market opportunities have suddenly exploded while others have struggled. For some, their traditional customer base has shifted from the core face to face, to the prospect of becoming more digitized and less dependent on human interaction.
Thinking positively and strategically, entrepreneurs and business owners now have the opportunity to attract a more diverse, multinational market, one maybe with different tastes and specifications from what you are used to, but one that could also potentially allow your business to grow and to take on a new path across oceans and territorial borders.
That said, “SMEs need to ensure their core business is intact and stable before heading out again,” Lee shares for those for whom internationalization was an option pre-Covid-19. While this new normal has definitely brought its challenges, it has also opened possibilities thanks to the new-found dependence on online, digital and logistics driven businesses.
Lee sees the Pandemic and what in business terms is known as a “Black Swan” event (defined as a “rare, unpredictable and extremely impactful period) as a time of innovation and emergence in new trends. Whereas blockchain and robotics were the themes of the beginning of the year, the situation has rapidly brought about a resurgence in interest in Big Data and a focus on creating smart devices, transforming our environments into smart homes and smart cities, and evolving our politics into smart governments.
On a personal level, Lee sees a “Mega Trend” in individualism and personal branding, in self-tracking, in expanding from networking within a space to networking globally and operating in a hyper-connected society and much aware world.
To this end, she poses some points of introspection for entrepreneurs and SMEs.
Ask yourself—is your product or service one that can be re-innovated or remodeled to fit the current environment? Can it be further split into multiple categories to cater to different demand clusters? Is your product or service original? Can it be easily replicated? Are you consistently and constantly innovating? Is your product or service an affordable option? Does it offer value to your market? Is your product or service “green” or “smart”?
Following this round of reflection, business owners should then consider moving forward by reviewing how their businesses are modeled and remolding and remodeling to keep in line with future trends. They should find ways to innovate, to increase “intercultural competence”, as Lee likes to call multiculturalism. They need to be socially intelligent and engage “virtually,” think in terms of the kind of data they produce and become “interdisciplinary”—meaning integrative and multifaceted.
Lee goes on to say, “companies who are starting out, need to make sure that they actually do have a market out there in the midst of a watershed occurrence such as this. Ensuring sufficient cash flow is critical as we will be facing a lot of uncertainties from many angles. On the brighter side, in the midst of any crisis there will be new opportunities too.”
A big believer in the Philippines as a country for investment and growth, Lee sees brighter days and more opportunities between the two countries, “there are opportunities between both countries despite the current environment. Firstly, all businesses need to relook at their business model, pivot and embrace technology, not just for local needs only but also for overseas opportunities. Our market is now more global, the reach of every business is already global through technology. We both need to embrace the new future.”
PR Matters is a roundtable column by members of the local chapter of the UK-based International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Margarita Locsin is an OFW from Singapore.
PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.
Image credits: Nattanee Srisuk | Dreamstime.com