It’s been roughly a month since the Coronavirus began to flip our lives upside down. Its outbreak is first and foremost a human tragedy, shaking up business and consumer behavior on a massive scale. In Vietnam, nearly 100 million people ordered to stay inside and thousands of local businesses temporarily suspended due to C.O.V.I.D-19 are raising the most extreme national quarantine ever.
While the full economic consequences of this black swan event are still unclear, we know that the effects that the pandemic are already precipitating change across industries. Here are the perspective on the evolving situation as well as advice on what businesses should do to survive from the pandemic, shared by Mr. MASANORI KONISHI – CEO of MicroAd Vietnam.
About Mr. MASANORI KONISHI
Hello Mr. Konishi, what do you think about the growing impact of Coronavirus on the global economy and Vietnam’s?
As many international organizations or research laboratories stated, C.O.V.I.D-19 has a big impact on economic globally and puts the world economy into recession. That is the same story in Vietnam but we can deduce Vietnam country would turn around into the growing phase relatively early again along with original own driving power of growth.
As we know that the headquarter of MicroAd Vietnam is located in Japan, then how are things going there?
Japan’s economy is also affected significantly due to the limitation of the activities of companies and people. At the same time, the keyword “Digital Transformation” has been closed up frequently in many media, then be said this situation will cause a change in business and lifestyle in Japan.
Then, is there any similarity or difference between the way that Coronavirus impacts on businesses in Vietnam and Japan?
There are some differences in the way Coronavirus has been affecting the industrial structure of Vietnam and Japan. Particularly, the negative impact in industries like transportation, tourist, eating-out, entertainment and manufacture is wide and huge.
In Japan, various industries and companies are forced to change the master plan of their business. And, the biggest one we can say is the Tokyo 2020 Olympic Games
Back in Vietnam, what do you think are the difficulties that local businesses are facing?
The Government’s response to Vietnam’s social status has been very quick from the beginning. Also, the consciousness of the Vietnamese people is high. On the other hand, that means a significant impact on local businesses and people’s daily life. Hence, we can assume new demands and new business opportunities would occur as reaction to the limitations.
And it is the same story at MicroAd Vietnam, isn’t it?
Yes, it is. We are a marketing partner who supports various industry clients. Therefore, the slowdown of the market directly affects our business as well. However, we think it is a mission for the company like us to create new ideas and to activate the market from the viewpoint of marketing, all the more under the current tough market situation.
So, what have you been doing in order to help your business and employees get over this pandemic?
MicroAd Vietnam is following the guideline from the Government well in order to prevent infection spread together with society, and also, making an effort to secure employment and recruitment the same as usual to minimize the impact on our company’s staff. We’re thinking that it is important “to take actions what we can do now” and “not to change, same as usual” even small things, even foreign capital companies, as one of the members of Vietnam society.
As an expert in the marketing and advertising industry in Vietnam for years, can you advise more about the solutions that help local business leaders maintain their revenue and survive from the pandemic?
We should consider two types of strategies now. One is “With C.O.V.I.D-19”, the other is “After C.O.V.I.D-19”.
Hopefully, even the current situation would calm down sooner in Vietnam, but many industries need to take time for a while to get back the equivalent level as before C.O.V.I.D-19 under the global economic system. Therefore, strategy “with C.O.V.I.D-19” is required.
Besides, preparation for adaptation to updated standard is required as well because a big structural changes often happens after the social dislocation, for example, our industry, a major breakthrough of digital marketing industry had happened after the global financial crisis in 2008.
We might be in the period of transition. What the importance now is, to analyze and get the whole picture of expected changes of business structure and consumer behavior so as to execute an appropriate marketing strategy for both “With C.O.V.I.D-19” and “After C.O.V.I.D-19”. And, MicroAd Vietnam is willing to be your partner of the market so that we can keep growing together.
Thank you, Mr. MASANORI KONISHI for this interview.
About MicroAd Vietnam
MicroAd Vietnam business has been taking off since 2012 and providing a full range of digital marketing services for business through creative & strategic planning, monitoring & reporting social media platforms, display banner ads, video ads, digital production, and search engines.