Marketing rice in the Philippines is a common hurdle for rice business owners. In today’s article, we will be exploring how to market rice in the Philippines and go over some simple but effective ways you can earn more money, whatever your business model may be.
Even though we will be specifically going through the stages on how to market rice in the Philippines, you may wish to pay special attention to certain stages. For example, stage 4 applies the marketing strategy; therefore, it is best to focus on this area if you are looking at only how to market rice in the Philippines (the method).
How To Market Rice In The Philippines
1. Research The Rice Market In The Philippines
The foundational step of marketing is research. Of course, businesses have changed throughout the years, and we as business owners have adapted, but the most successful businesses have based their foundations on the market. You’re in the best place to start marketing rice if you know the market.
So what do you need to research when you’ve just started a rice business or looking to market rice in the Philippines? Several categories will depend on the type of business, but areas of interest include consumer data, current demand, industry changes, etc.
For example, data reports from science direct concluded that rice market costs in the Philippines were higher than in Thailand due to the high-interest rates of the financial system. However, rice marketing margins are greater in the Philippines than Thailand despite many similarities. This may not be useful unless you plan to sell internationally; however, several other sources, updates, and statistics are useful for local sellers.
We have spoken about how to market in the Philippines, which has a lot of critical information. Still, you may also find our article covering how to do market research in the Philippines useful. It has some websites and online platforms that can be used to find the latest statistics and data regarding industries across the Philippines.
2. Analyse The Competition And Differentiate
The next stage in how to market rice in the Philippines is to analyze the current competition and differentiate your business. This is the same way whether your customer is the end-user or a business.
If you own a small rice business in the Philippines and do not sell to businesses or overseas, differentiating your business will be much easier. Are you able to offer your customers special promotions, added extras, or something unique that will result in repeated business?
When your customers purchase rice, what other foods will they eat with the rice? Perhaps some spices, herbs, or seasoning would work well with your customers. This is only a small idea out of potentially hundreds you could create for your business, but it may mean a difference to the customer, increasing your business sales.
In addition, as a small business owner or selling rice in the Philippines in general, it is best to ensure that the process for the consumer is as easy as possible. Therefore, you need to remove every barrier in your way. For example, this could mean setting up your business in a more accessible area or creating packages with a set weight, so the customers do not need to weigh the rice themselves.
3. Understand What Makes People Tick
Understanding human psychology is one of the most undervalued areas of business and one that many business owners take for granted. Yet, customers (businesses or the end consumer) are just like you and me. If you think about it, psychology has likely been used on you to make you purchase an item, and you may not even have been aware of it at the time.
Businesses all over the Philippines have known this for years, and corporations spend a large amount of money on specific marketing, tapping into our primary human urges and interests. This is not a skill only for the 1% but is an area of education that we can be learned for free.
If you are looking to market rice in the Philippines, understanding what makes buyers tick who be the foundation of a successful marketing campaign. As a business owner, you likely know your customers better than anybody else, So what makes them tick, and how can you bring them more value and better their lives.
Business owners don’t like to always think about business as helping people. They like to think about it in their own words, such as delivering a demand or something similar, but every business helps people in one form or another, so the question is, what makes these people tick, and how can you help them more?
4. Apply Your Marketing Strategy To The Rice Business
Different types of marketing strategies are more useful at certain stages.
For example, if you are marketing rice or other food groups in the Philippines or you have a brand new business, awareness marketing would likely be the best option. Essentially, this is a way to get eyes on your product and business. In other words, it is building awareness and letting the customer know you exist.
- Cause Marketing
- Conversational Marketing
- Direct Selling
- Email Marketing
- Internet Marketing
- Paid Media Advertising
- Social Networks Marketing
As you can see from the examples above, several different marketing strategies can be applied. Of course, this is only a small list of common modern strategies; however, hundreds of different marketing strategies can be used.
Though, you may wish to market more traditionally depending on your end consumer to sell rice in the Philippines.
Suppose the budget is tight …I would recommend visiting our article, which covers free marketing in the Philippines but to summarise. In that case, several types of marketing can be done for free, which may be useful when marketing rice in the Philippines.
These include affiliate marketing, marketing on social media, and creating content online such as a podcast blog or video.
If you are a local rice seller, it is recommended to home into your local audience. You can set up a business profile on google maps to do this. You can also run advertisements on Google Maps, which will allow you to target customers in your area looking for rice.
Additionally, suppose you do have spare capital. In that case, you may wish to invest in social media advertisements such as Facebook, which is slightly more expensive than Google Maps in our experience but provides greater features and more in-depth targeted marketing.
If you are looking to sell online, perhaps to a wholesaler or overseas, it’s best to set yourself up on platforms such as Alibaba.
One of the most difficult challenges when marketing rice in the Philippines is to choose the right strategy for your business. Unfortunately, many external factors such as location, business model, and customer type impact the marketing strategies.
Therefore many business owners create a marketing plan and test several campaigns before investing fully. On most occasions, business owners have several campaigns running simultaneously, but it’s best only to have campaigns running long term that are effective and profitable for your business.
5. Investigate Results And Action Based On Findings
One important step that is sometimes forgotten after marketing has been conducted is to research the results and take the appropriate actions based on the new information.
As an example, you may find that local search engine optimization works well in the long term, but Google Maps advertisement works better in the short term. The marketing campaign results will lead you to the next stage, which is fine-tuning your campaign so that you can find more customers at a cheaper rate.
This process seems effortless; however, the process can take a long time. In addition, several external events can impact the current markets and your results, which also need to be considered.
It’s also worth mentioning 1 other important consideration that is your time. You may find plenty of ways to market rice in the Philippines for free but take up a large amount of your time. However, on the other side of the coin, some advertisement is very specific and can save you a great deal of time but can be costly, and this is a decision you will need to make as a rice business owner.
6. Apply Scalability And Grow Your Rice Business In The Philippines
The last stage on how to market rice in the Philippines is to apply everything that we have explored today and use this to scale and grow your rice business in the Philippines.
For example, you may find that different locations result in more sales. Therefore, as a business owner, you decide to scale, you will not have one big warehouse or one big store, but instead, you will have free mini kiosks set up in strategic points in your province or city.
I say this as an example because even if you have the best price and your marketing is very successful … if there is something problematic in your business, such as being in a bad location, this can cause your business to fail.
Therefore marketing is an essential part of a business, but it is only one area. If your marketing campaign has not been successful, it may be a wise idea to investigate the foundations of your business as well as the marketing campaign itself.
Data is incredibly important. As we know, companies and governments worldwide have been collecting data of all kinds for many years. Data is very powerful, and this is essentially true in business. But it’s necessary to collect the data and use it in a way that will be beneficial to your rice business.
The rice market in the Philippines
When it comes to data, there is very limited data for this modern time due to the ongoing pandemic; however, from available data, it can be concluded that there are several factors that have increased the demand for rice in the Philippines.
Since 2000, the Philippines population has been growing between 1% to 2% per year; tailoring this with other external factors such as the recent pandemic and wealth division in the Philippines is clear to see why rice (as a convenient and cheap product) is in demand.
However, there is so much more to the rice market in the Philippines than external factors. There are also more delicate components at play, such as the supply and the demand of the product.
Some business owners are also understandably concerned about the threat of importing rice from other countries to the Philippines. However, due to the value-added tax/import tax, if this was to happen potentially, this could mean that the poorer classes would struggle financially, some argue. Nonetheless, World-grain.com said the Philippines is expected to import more rice than ever before over the next few years due to economic conditions.
At this moment, the data indicate that there will be an extra 200,000 tonnes of rice imported into the Philippines this year. Below are some extra posts about marketing in the Philippines.
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