Marketing is one of the most crucial elements for business individuals, particularly those operating in the micro, small, and medium enterprise (MSME) sector. Muhammad Jupaka, Chief Operating Officer (COO) of Nama Beauty, asserts that marketing transcends the mere promotion of products or services; it plays a pivotal role in brand building, customer attraction, and driving sales.
During a hybrid seminar titled “SMESTURISTIC 2023 – Power UP your SMEs for the future with SBM ITB” held at Graha Irama, MBA ITB Jakarta Campus (25/11), Jupaka shared beneficial marketing strategies for SMEs. These strategies encompass digital marketing, utilizing online services, such as SEO and paid advertising; content marketing, employing various materials like blog posts, videos, and infographics to engage and attract audiences; email marketing, a tool for connecting and building relationships through newsletters; social media marketing, offering a cost-effective advertising option for budget-conscious businesses; and influencer marketing, leveraging influencer recommendations to attract a loyal audience.
Beyond marketing, Jupaka emphasized the importance of MSMEs conducting an analysis based on Porter’s Five Forces to comprehend the competitive landscape of an industry. This analysis aids businesses in understanding competitive dynamics, including the bargaining power of suppliers and customers, the threat of new entrants and substitute products, and the intensity of competitive rivalry. Such insights are crucial for developing effective business strategies.
The second speaker, Mikael Dewabrata, Digital Traffic Manager at Modena Indonesia, underscored the significance of data analysis in MSMEs. Mikael highlighted how data is indispensable for business growth, providing insights to forecast market trends, understand customer preferences, and assess competitors’ strengths and weaknesses. In today’s digital era, Mikael emphasized that data-based decision-making is the key for MSMEs to remain competitive and agile in rapidly changing market conditions.
