Thailand's digitalisation journey (Part 2)

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To better determine the digitalisation avenues that SMEs in Thailand are looking to enter, The FinLab collaborated with UOB (Thai) on a two pronged study to gauge how the SMEs are viewing digitalisation and the sort of business benefits they aim to achieve out of it. The first part of the study was an online survey of SMEs in various industries measuring the type of business growth challenges faced and the type of digital tools that they prefer. The survey found that the biggest business challenges faced by the SMEs were sales & marketing, and cashflow, financing & payments.

These were closely followed with systems & technology (such as inventory and customer relationship management). When asked about which elements they felt would help boost their top-line revenues, the SMEs highlighted penetrating new markets (including overseas markets) and digital marketing of products and services as most important – followed by being more strategic in future business plans. When asked about the specific marketing strategies they were keen on implementing, the SMEs overwhelmingly leaned towards digital marketing areas. They were most interested in search engine optimisation (SEO) & search engine marketing (SEM), and social media marketing. These were followed by branding and the use of e-commerce channels. Overall, it is evident that the SMEs know which areas of digitalisation they can leverage to improve their respective businesses. However, the main barriers to adopting new digital solutions have been the cost of implementing the right technologies and the complexity of doing so.

Source: The Finlab

The article is solely produced by The Finlab for informational and reference purpose only. It is not in relation to any financial product or service provided United Overseas Bank (Vietnam) Limited (“UOB Vietnam”) and shall not constitute advice provided by us. UOB Vietnam makes no representation or warranty to the accuracy, completeness, validity or any other aspect of information contained in this video. Under no circumstances shall UOB Vietnam, its branches, subsidiary, affiliates, partner or employees be liable to you for any direct or consequential damages arising out of or in connection with your access or use of the information contained video, or for any decision or action made in reliance on the information contained in the video.


Vo Trang Anh, Regional Supervisor

Sales and Marketings are big challenges to enterprises. Our company always focus on innovation and accelerating business growth.

Vu Hoa, Chief Accountant

SMEs can take the advantages of developed technology in their maketing & promotion strategy. Besides, it is necessary for enterprise identifying the most suitable one with their business demand. 

Nguyen Thai Viet, Head of Marketing

Besides Thailand's market, most countries also are facing challenges when applying digital marketing in increasing revenue such as: reaching the right target audience, expanding the market share...