Column
PHILIPPINE RETAILING
1ST QUARTER 2019
1ST QUARTER 2019
Cover Story
RETAIL
SPOTLIGHT
LinkedIn for Retailers:
4 Ways to Grow Your Retail
Business through LinkedIn
LINKEDIN
FOR
SUCCESS
VIRGINIA BAUTISTA
www.linkedin.com/in/virginiabautista/
email: [email protected]
Virginia Bautista is the first independent LinkedIn trainer,
speaker and consultant based in the Philippines and one of
the top LinkedIn evangelists in Asia. Through her LinkedIn
presence, Virginia was featured twice in Forbes and twice in
Entrepreneur Media, among others.
As the world’s largest network of professionals, LinkedIn
now has more than 610 million members from 200
countries and territories worldwide. In the Philippines,
there are more than 6 million LinkedIn members.
In spite of the huge growth in the number of LinkedIn
members from the country in the past few years, the
majority of Filipino professionals and business owners
still seem unaware of the power of LinkedIn in career
and in business.
So let me first share with you what LinkedIn is and what
it is not:
LinkedIn is NOT only for job-seekers. It’s a one-stop
platform that can help build your career or grow your
business.
Gone are the days when LinkedIn was used only to find
jobs. LinkedIn has evolved a lot since its launch in 2003,
and it’s now used for career building, industry learning
and business growth.
LinkedIn can help you gain visibility, build your personal
brand, learn from influencers, engage with your
prospective, current and past customers, join industry
conversations, build professional relationships, establish
thought leadership and generate leads for your business.
LinkedIn is no longer just for B2B marketers. LinkedIn is
an effective way for brands to reach their consumers.
With around 40 million decision-makers on LinkedIn, it
is considered the No. 1 business-to-business (B2B) lead
generation platform. HubSpot’s 2012 study revealed
that LinkedIn is 277% more effective in lead generation
compared with Facebook and Twitter combined.
But aside from being a top B2B lead generation site,
LinkedIn now gives businesses the power to reach
their consumers through the platform. The truth is,
all LinkedIn members are consumers -- and they have
the disposable income to use for shopping! So gaining
visibility on LinkedIn is a great way to stay top of
mind both with your prospective and loyal customers.
LinkedIn is not a sales tool. It is a relationship-building
tool that empowers you to sell without selling.
While you can post ads on LinkedIn to reach a highly
targeted audience, you can also find and get found by
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Inspirations and
Lessons from Tatang
prospective customers and potential
business partners or suppliers organically,
i.e., without paying for ads. And you can
do this by first gaining visibility and then
building relationships with your target
market. After all, relationship building is a
part of and is key to a successful business.
And remember that people do business
with those they know, like and trust.
The Life and Legacy of Philippine’s
Father of Philippine Retailing Henry Sy, Sr.
So why and how should retailers leverage
LinkedIn to grow their businesses?
By: Catherine Nanta
Digital technology including social media
has revolutionized the way consumers
buy. Now, consumers who want to buy a
new mobile phone tend to first do their
research online instead of going directly
to stores.
The rags-to-riches story of Henry Sy, Sr. is not new to many, as
countless articles have been written about him—being the most
prominent name in the retail and mall industry. The richest man
in the country, and even in Southeast Asia, Sy or “Tatang” as he
is fondly called by colleagues and friends, has proven that with
diligence, patience, and perseverance, one can attain his dreams.
They do Google search to learn
more about brands and models, read
user-generated reviews or ask for
recommendations from their friends
through social media. Because modern
buyers have changed, retailers should
adopt and meet the customers in
whichever stage they are in the buyer’s
journey.
His passing last January brought sadness to the industry, but at the same
time sparked inspiration amongst many who remember him through the stories of
his success.
Here are 4 ways you can leverage LinkedIn
to grow your retail business: Building an empire from the rubbles of war
1. Get found and gain consumer trust by
building a powerful personal brand on
LinkedIn Ever since he was a young boy, Sy already wanted to be a business man, as he
shared in his previous interviews. He went to the Philippines when he was twelve to
join and help his father manage their sari-sari store in Manila. It was a small store,
which they turn into their sleeping quarters at night. However, after World War 2,
the country’s economy went down and their store was burned down. His father went
back to China, but he decided to stay, and ventured into shoe-selling, with just ten
cents in his pocket. At some point, he had to work and study at the same time. But
with determination and hard work, his business slowly and steadily grew and he
then opened a few branches, around Manila and later in Makati.
LinkedIn is an effective personal branding
tool that can help you stand out in the
retail industry. And building your personal
brand starts with optimizing your LinkedIn profile, or
making your profile complete and targeted towards
your ideal market.
To get found, include in your profile the keywords that
your target customers use when they’re researching
about products or services they want or when they’re
searching for solutions to their problems. With a strong
personal brand, you can gain consumer trust that helps
grow your retail business.
PHILIPPINE RETAILING
When seen as an expert or a go-to resource person
in your industry, you have the power to influence the
way your network think and feel about issues relevant
to your products or services. This can ultimately
influence the way they spend their disposable income
as consumers.
4. Reach new customers by leveraging lead generation
2. Grow your retail business by building professional
relationships LinkedIn has advanced search functions that enable its
members to search through the platform using useful
filters including location, industry, company, school,
keyword, function, etc. These filters make prospecting
and reaching out to your target market much easier.
One of the keys to becoming more visible on LinkedIn is
by growing your network. The bigger your network, the
more likely that you’ll appear in search results for the
keywords that you include in your profile. Once you’ve found your target audience through search,
you could connect with them and build relationship
so they become aware of your brand and ultimately
become customers or refer you to their own network.
And building relationships with your connections is
critical to attracting the right opportunities -- could be
partnerships, speaking engagements, leads, referrals,
sales, etc. -- that can help grow your business. Why LinkedIn should be part of your overall marketing
and branding strategy
3. Influence purchase decisions by establishing thought
leadership Reach a B2B audience. Target new customers. Build a
powerful personal brand. Become a thought leader in
your industry. Stay top of mind with prospective and
loyal customers.
Thought leadership is a marketing strategy in which
you position yourself as an authority or expert within
your industry through content including articles, videos,
podcasts or infographics. All of these can ultimately generate qualified leads that
can turn into sales and referrals. So adding LinkedIn
marketing strategies to your current marketing mix this
year can definitely take your business to a new level.
Throughout the decades, Sy was known as the man who took risks. When he bought
the area where the SM North EDSA stands now, many people shook their heads
thinking it will never fly. Nevertheless, that, and many other decisions he made,
turned out to be a big success, which earned him the distinction of a true visionary.
Legacy in the industry
Awarded by the Philippine Retailers Association (PRA) as the “Father of Philippine
Retailing” in 2005 at the Outstanding Filipino Retailers and Shopping Centers of the
Year Awards (OFRSCY), Tatang had not only contributed to the country’s economy
through this business, but had been instrumental in many milestones both in the
country’s retail and tourism industries, as well.
In 1991, the PRA, which was
still Chamber of Philippine
Department Stores and
Retailers, Inc. (CPDSRI)
then, was planning to bid
for the Asian Retailers
Conference Expo (ARCE) to
be held in Manila. But before
the PRA could do so, Mt.
Pinatubo erupted, which put
the country in a bad light.
However, PRA Vice Chairman Bing Sibal-Limjoco recalled that Tatang
still encouraged them to pursue the bidding, and the Philippines did win the right to
host the 6th ARCE.
“Tatang has always been our guiding light and greatest supporter, especially during
the times when we were dreaming of further transforming the retail industry in the
country,” said Limjoco.
Growing beyond shoes Building SM Mall of Asia (MoA), according to Tatang is more than a business for
him. It was his way of investing in the country, even though the Philippine economy
during its opening in 2006 was not that strong.
Even while he was just starting out, it has been his vision for every Filipino to wear
shoes, and that there be an SM branch in every corner of the country. This has now
obviously materialized and even gone beyond, as we see SM now with 78 malls and
counting, 1,729 retail stores, 1,264 BDO branches, and investments in real estate,
leisure, and logistics. In his interview with Philippine Star he once said: “I hope this biggest mall project
will have a positive impact on the Philippine economy and I hope to encourage
other business people to invest, too. I took a risk and invested in SM Mall of Asia
because I wanted to create something that could contribute to Philippine tourism
growth.”
But aside from growing his business, it was also the dream of the late Sy to see all
Filipinos to be able to go to school. In 1983, Sy and his wife, Felicidad established
the SM Foundation anchored on the principle of “people helping people”. Some
of the activities it undertook are: education, healthcare, shelter, disaster response,
farmers’ training, environmental programs and care for persons with special needs. It was also his wish for the government and the private sector to work together and
make the Philippines the biggest tourism destination in Southeast Asia.
“With these growing and expanding CSR initiatives, SM Foundation has remained
focused, committed and dedicated to our vision of empowering our people.
No doubt as we continue work together, we can scale new heights and empower
even more people,” Sy once said.
He may not be physically present anymore, but his inspiring story of rising from
almost nothing to being the country’s richest taipan has served as testament that as
long as you love what you do and do your best, not being afraid of taking the risk,
your dreams will come true.
References:
www.sm-foundation.org
www.sminvestments.com
Flores, W. L. (2006 June 5). Why Henry Sy believes the Philippines is not hopeless. Philippine Star
Jurado, E. (2019 January 22). The story of Henry Sy, Sr. Manila Standard
Sy, W (2019 January 28). Tatang’s legacy in the stock market. Philippine Star
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