In the 21st century, where the world is driven by technology, digitalization plays a very crucial role in running a business in order to maximize the profit and make a mark in the growing business industry. Last September in a piece for the Forbes Magazine, Steve Andriole wrote that “everyone wants to transform their businesses, and everyone who’s alive knows that transformation and change now depend on digital technology.” These days numerous technological solutions appear in order to meet the requirements of SMEs and multinational companies. Digital transformation is the key to survive in today’s competitive world.
Dependency of SMEs on digitalization
Information technology (IT) infrastructure has become the most important asset for most small and medium sized enterprises (SMEs) and also a mantra for growth due to the fact that information technology has revolutionized the way today’s business operate – from the onset of email and mobile communications, to the ever-increasing growth of online trading and electronic payments.
One out of five SMEs, say that online dealing and social media marketing is the biggest scope for their opportunity for growth, with innovations such as mobile technology (18%) and cloud computing (11%) also topping the charts.
Digitalization is the grand source of marketing for the SMEs as one out of ten individuals are socially influenced and hence proper online marketing strategies to create an influential impact on the consumers gaining their attention.
Role of Digital selling in promoting SMEs
Creating a start-up can be simple of late with the government’s support from, nationalized schemes and loan facilities, however, creating it a very ‘revenue-generator’ may be a totally different story all at once, that is why Digital selling comes into the scene. Digital selling is superb thanks to promote SMEs UN agency square measure competitor with well-established business homes and types.
Use of Digital selling helps SMEs to search out versatile selling potential that successively would increase sales volume
It is the foremost price effective thanks to reach resolute target potentials and establish a right away contact with each their current and potential customers
There is no want for long standing commitments. Lead generator campaigns through Pay per click (PPC) model is changed or updated frequently for optimum ROI (return on investment)
It helps SMEs to return in grips with specialists UN agency square measure up-to-date with relevance the developments going down within the market and update their skills
It conjointly provides SMEs with the liberty to form changes in their in progress campaigns whenever the necessity arises
Nowadays, it’s doable for each tiny and medium business to attain business success with on-line advertising by creating use of a mix of video selling, social media selling (SMM), content selling, e-mail selling and programmed selling (SEM).
Why SEO might be A Game-Changer?
If you’re associate degree SME owner, you ought to embody SEO in your on-line selling combine. Programmed improvement or SEO is kind of a preferred digital selling medium these days since it enables you to reach the highest position within the programme Results Pages (SERPS) within the biggest search engines – Google, Yahoo, Bing etc. once web users look for your product or a connected product, a class or complete (business) on-line they get to visualize the name of your on-line business entity (could be your web site, blog, social media profiles, business portfolio, business contact details and then on). SEO helps to project your business at the forefront of public search leads to a probe engine. A purposeful SEO strategy will work wonders in generating a gentle stream of traffic to your business web site. Well written and relevant content on the web site can facilitate convert prospects into qualified leads and a well devised lead nurturing strategy will facilitate convert those leads into customers.
Things to be unbroken in Mind
However, sure things got to be unbroken in mind whereas choosing Digital selling in promoting SMEs –
Pay attention to current trends of digital selling by reading current news or well-liked blogs. Don’t be afraid to experiment; you would possibly have setbacks however you’ll learn to form wise choices which manner you’ll be able to keep sooner than your competitors
Tracking also as analysing your web site statistics is crucial since it informs you concerning the visitant demographics and provides useful insights into the population phase of the web site guests. this can assist you to focus on and set up your selling efforts effectively
Mobile devices these days have overcome laptop users in terms of numbers. conjointly major networks everywhere the globe let mobile users access social media, email and websites by exploitation their good phones. you ought to ideally set up your company’s digital selling strategy engrossment extensively on social media and targeting the mobile users
Digital selling has really emerged as a dynamic selling medium for any business. It’s arduous to ignore the advantages a business will get from investment time, effort and cash during a digital selling campaign compared with the standard selling mixture of print and electronic media. Digital selling is efficient and also the come back on investment remains a lot of more than ancient media that may be a positive attraction for SMEs. Having aforementioned of these, it involves the question – however will SMEs use digital selling effectively?
There square measure 2 choices – to take knowledgeable service from a digital selling agency in Bharat or to be told digital selling and begin doing it yourself for your own business. Obviously, the primary possibility is that the automatic selection for many SMEs as – it saves their time, energy and conjointly they get best digital selling service from specialists while not having to press a button or click a mouse on their computers and laptops. Whichever be the choice you choose for, digital selling is that the manner forward, therefore opt for it and come through your business goals!
Learn from other SMEs
SMEs find this as the best of learning to take their business to another scale. Different SMEs implement different marketing strategies to maximize profit; hence this paves a way for other SMEs to learn from them. One SME might specialize in one aspect whereas other will be an expert in something else; this is an opportunity for the SMEs to learn from each other and boost up their business to another level and walk out as a confident firm.
Three years for the Narendra Modi led government’s emphasis on encouraging the upliftment of the small and medium scale businesses has given some phenomenal results.
- In a report published in August, 2016; it is mentioned that the small and medium sized enterprises are of utmost importance for the development of Indian economy as they contribute over 45% of the country’s GDP which is almost three times the GDP contributed by the corporate India. Not only this, the SME sector contributes majorly in the country’s employment. It accounts for employing over 46 crore people helping the nation to transform into a developed nation and also growing at a rate of 11% annually. Hence, SMEs are the major contributors to the Indian economy.
A survey was conducted by facebook in collaboration with the Organization for economic cooperation and development on the “dependency of SMEs on one another for learning new strategies” to see the developmental procedures of the SMEs which contribute a surplus amount to the economy these days.
- In line with the global trends, the small enterprises in India are growing at another level and are relying on each other to learn and are sharing contemporary ideas on the digital platform says the survey. Rather than competing amongst themselves, they have chosen a better option to help each other grow and contribute towards the economic development of the nation.
Hence, it can be concluded that digitization is the backbone of the SMEs in today’s socially influenced world. It plays a crucial role in the success of the SMEs in the long run.