In the ever-changing world of business, where new ideas are important, a growing group is ready to make a difference: women entrepreneurs. These brave individuals are changing how businesses work in Thailand, using their strong will and desire to succeed. UOB Thailand, The FinLab Thailand, and a group of supportive partners have come together to help these unstoppable women by providing them with digital solutions.
The UOB Business Outlook Study 2023 shows that 74 per cent of Thai small and medium-sized businesses (SMEs) and large companies understand the importance of reaching new customers, standing out, and using digital technology to grow. However, women-led companies still need help with cyber security, high costs, and a lack of digital skills among employees.
To help overcome these challenges, UOB Thailand and The FinLab Thailand and its ecosystem partners, including Thai Business Incubators and Science Parks Association (Thai-BISPA), O2O Forum and Reporter Journey, have launched the Womenpreneur: Tech and Sustainability programme. This programme aims to help 150 female business owners by giving them the digital skills they need to succeed. Here are three digital trends these organisations are teaching womenpreneurs:
Meta-Commerce and AI: A Must-Embrace Trend
Ms Kulthirath Pakawachkrilers, CEO and Co-founder at Thailand e-Business Center (TeC) and President of the Thai e-Commerce Association (THECA), urges businesses to embrace the power of the Metaverse, Artificial Intelligence (AI), and sustainable technology. She said, “Meta-Commerce, which combines virtual reality with e-commerce, is a new trend that promises to change the way we shop online.”
Ms Kulthirath added, "For Thailand, there is a national strategic plan for AI 2022-2027 to promote the use of AI among private and public sectors by 2027, seeing the rising opportunity for businesses in AI development."
Influencer Marketing: Winning Gen Z's Hearts
Ms Suvita Charanwong, CEO and Co-founder of Tellscore, one of the leading influencer consultancy and agency services, highlights the importance of influencer marketing for e-commerce. She explains, "Platforms like TikTok are prevalent among Gen Z[1], with 40 per cent of them preferring it over other search engines."
Ms Suvita adds that businesses need to create engaging content and use effective SEO management to reach this audience: "TikTok may be described as Gen Z's library, and with Gen Z spending an average of 95 minutes per day on TikTok, the developed material must also have effective SEO management."
Digital Strategies for E-commerce Success
Mr Pej Prapakittikun, Managing Director of O2O Forum, shares insights for female entrepreneurs starting e-commerce businesses. He believes that understanding business development is crucial for success in the digital world and that entrepreneurs should choose strategies that suit their goals and abilities.
Mr Pej suggests using the IGNITE approach, which includes Insightful data analytics, Gamification, New products/services, Innovation and Technology, and Entertainment: "Entrepreneurs must have expertise and awareness of the science of business development to survive and thrive in the digital world. The business development approach varies; entrepreneurs must choose strategies that fit their targets and capabilities."
The Womenpreneur: Tech and Sustainability programme is essential to empowering women-led businesses in Thailand. By embracing digital trends like Meta-Commerce, AI, influencer marketing, and strategic e-commerce planning, womenpreneurs can overcome challenges and succeed in the digital world. If you are a female entrepreneur seeking to grow your business, visit www.facebook.com/uob.th or https://thefinlab.com/th/thailand for more information.