Small-Medium Enterprises have seen exponential growth over the last decade. According to the reports by the SMB chamber of commerceand the Ministry of Micro, Small and Medium Enterprises, India in the year 2016 has more than 48 million SMEs. SMEs plays a crucial role in providing employment opportunities and also helps in industrialisation rural and backward areas.
What are SMEs?
European Union has defined SMEs as, "A business with a headcountof fewer than 250 is classified as medium-sized; a business with a headcount of fewer than 50 is classified as small, and a business with a headcount of fewer than 10 is considered a micro-business." These businesses enterprises are innovative and quite competitive. One of the major problems with them is they do not have access to capital to expand their growth. They depend upon personal funds, loans from friends and family or Angel investors. To get more funding, SMEs have to be proactive and start using digital media. They have to change with time and start using the modern techniques to get benefits of using digital media.
There are over 3 billion internet users across the world and digital marketing is the next big thing every other entrepreneur and start-ups are using. Even some of the SMEs have started using digital media but there are still some that think, digitalisation is out of their reach and expensive. But they must know that82% of consumers conduct research online, according to Forbes. And, Tech Crunch reports that 79% of people shop online. Everything is becoming digital and SMEs must consider this option.
Here are six benefits ofdigital marketing for SMEs,
Money is an important aspect of any business model. But at the initial stage, you have to spend a lot of money on advertisement and promotion of your company. So instead of going with traditional marketing, try using digital platforms. Tactics like pay-per-click, display, and social media advertising can produce better results. You can try email marketing which will allow you to reach a bigger audience in less time.
Digital marketing will provide you with every possible opportunity to promote your business. You just need to put quality content, keep updating your website regularly and this will improve your brand name and helps in promotion. You must utilize digital marketing for brand advertising and promotions.
The traditional marketing doesn't allow you to interact with your customers directly or on time. But if you are using digital marketing method then you can get in touch with your customers pretty soon. They might have various questions to ask regarding your products and services and you can directly answer there queries that too in less time. This will give your customer's an impression that how fast your brand is.
The best part of digital marketing is that you can get user feedback and comments on your web page. This will help you to increase your customer base as the next buyers can see the comments and feedbacks of the previous one. This will also encourage your followers and clients to visit your website. The more positive comments you will get the more people will share and like your website.
It will help you to connect with other businesses
Not only in finding customers but this will also help you in finding and connecting with other start-ups, entrepreneurs, and businesses. Making these connections will benefit you in many ways. So make as many connections and contacts as possible.
Helps you in getting your target audience
Digital marketing allows you to create brand awareness and helps you to be in touch with your customers. With significant contents, you can impress your customers and gain their trust. High-quality content and engaging social media posts can easily get your target audience.
With increasing impact of digitalisation, SMEs cannot overlook its benefit. Having an online presence is extremely important for any brand or SMEs. It will help you and your business to exist and survive in the competitive market. So, if you are still not using this marketing strategy, do it now.