Digital Bootcamp Asia’s first zoom webinar was successfully concluded last week. We are honored to had two entrepreneurs and Chinese business observers: Marco Gervasi– Founder of The Red Synergy, Jon Newton-Founder of Chinapreneur to share their experience and discuss how to survive this unprecedented crisis together. Here’s the highlight of the webinar:
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Jon Newton starts with the future Outlook: strong indications show that online shopping will continue, but mid-term sentiment shows that people are still hesitant to return to activities with a lot of people.
Follow by behavior changes:
Tight control over budgets
Harnessing new sector opportunities / pivoting behaviors
Focus/manage/spend on what is(perceived to be) critical
Increased care and welfare for family and colleagues
How can we adapt these changes and attract market attention?
The key is storytelling:
Why?
To give yourself / your business and your audience a deeper understanding of who you are with a strong brand story.
How?
1. Be focused and concise by applying the following 4W construction in your story :
Why are you telling this story? When and where is the story taking place? Who is telling the story?
2. Be Human2Human:
Telling more about who you are, what you’ve done than just your products. Lifestyle content attracts more attention.
3. Be repetitive to raise brand awareness:
Create your own content routine( how it starts, ends or a call to action, etc.) and it’s ok to reuse the content.
4. Have a clear goal:
You know what you are trying to say and make sure your audience gets you.
5. Drive engagement:
Give them a role in your story especially for B2C brands.
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Followed by Marco Gervasi‘s view on the attitude of Western and Chinese enterprises to the epidemic.
There is a strong contrast between the negativity and inaction of the West and how China’s rapid response and adjustment strategies which resulted in the recovery of the economy and commerce for both sides during the post-COVID-19 period. The business should dare to face the challenge, people should care about people.
The 5 trends of Chinese e-commerce during COVID-19:
1. Bring the offline to Online
Shanghai Fashion Show :
Took place during a Livestream this year with over 6 million viewers. Comparing with previous years, this year’s audience could buy what they saw right away as they sat at home.
The Metropolitan Museum of Art:
The Met launched its Livestream guide tour and in-app souvenir shopping with Pinduoduo.
2. Change the mix of sales channels
Red Dragonfly:
At a scale of 4000 brick & mortar shoe stores, Red Dragonfly trained all its 5000 employees on how to sell online and using their own connections into various sales channels.
Shop shops:
This app uses Livestream to help Chinese consumers discover boutiques world-wide.
Meizhou Dongpo:
This chain restaurant brand asked its chefs to give a Livestream cooking tutorial demonstrating their products.
3.Product innovation based on new needs
Coronavirus-related insurance.
4. Redistribute work flexibly
Restaurants share employees with grocery delivery companies to help with the online purchases’ sudden increase in demand.
5.Amplify logistic support
Buses and robots have become the couriers to deliver goods.
Simplify the procedures so that everyone is ready to work within 2 hours of training.
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Q&A:
Q1, Did you have to lay anybody off in your business and how do you solve the cashflow situation?
Jon- Luckily I don’t need to lay off anyone. Smooth cash flow from delaying the payment to suppliers and the salary to myself.
Q2, How have Italian small businesses coped with COVID-19?
Marco- Europe’s negative choice to retreat in the face of crisis
and blame others instead of making changes. As for my personal experience, I have never been this busy before and my workload and working hours have increased dramatically so I think the opportunity is now.
Q3,- Livestreaming: how can it be applied to B2B business?
Marco- If you don’t do it for specific audiences then it won’t work. One to all (audience) is hard to succeed for live streaming. So my suggestion is private events for certain audiences and builds your own platform.
Q4- How to overcome the crisis?
Marco- Take an old example from one of my clients, they made the decision to reduce everyone’s salary for one year. All the salesmen visited the clients. After one year the company succeeded and kept its promise to give back the salary and with a raise.
Q5- What are the new trends in business?
Marco: Livestream! And WeChat.
Alibaba/Taobao organized a live streaming roadshow to pitch to their distributors from all over the world without area restrictions.
Most of your budgets will have to move to live streaming and other online channels.
Q6- How do you create content and leverage the flow of readership?
Jon: People want to know more about who you are. The daily content is more than the simple product article. For example, LinkedIn is a great platform to let people know who you are and what you do.
Q7- Which is more challenging to you, offline, or online events?
Jon: I do prefer offline because you can feel the audiences’ feelings directly. But online is easier to reach your customers and target groups.
Marco: I totally agree with Jon. As an entertaining speaker myself, being able to read people’s feelings is important for me.
Q8- What do you think of the future of online teaching?
Marco- I’m not familiar with the education industry but the online business model will last and increase.
Key takeaways:
Be real – People are more willing to accept a real story.
Go digital – Swift your offline to online before it’s too late.
Stay connected – Due to less global travel, your past connection is your asset to your opportunities now.
Adapt – Adapt to change. Survival of the fittest.
Presentations – Click to view or download
Marco Gervasi -5 trends brought by COVID-19
Webinar video –
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Please stay tuned for more insightful content and activities of China and the world!
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