SMEs to Begin its Growth Story via Internet Marketing
Small and Medium Businesses are the backbone of Indian economy playing a major contributing role in economic growth. Our country consists of about 48 million SMEs who are engaged in manufacturing intermediate & finished goods or are providing an array of services, conjointly accounting for considerable share of India’s industrial output.
Due to its growing importance in Indian economy, SMEs become an ideal target for technological up gradation which can be done through technological cooperation with foreign & local enterprises or with R&D institutions & centres of technology development.
There is a continuous pressure on such firms to get out of the impending scenarios by working hard & bringing major changes in their operational policies. They need to incur more efforts on R&D and how they can use technology in par with international standards. Keeping this in mind small businesses are planning to spend more on Internet Marketing in 2015.
As per a survey on SMB Internet marketing by chamberofcommrce.com & Bright Local 37% of SMEs plan to spend more on Internet Marketing in 2015, this show a rise of 16% since last year’s 21%. However 47% of businesses are unsure about whether they will increase their spend level or not – so maybe this figure of 37% may go up if business conditions are favourable in 2015. An approx of 28% of survey respondents are of view that word of mouth wins the race amongst a list of channels including PPC, Email marketing and SEO.
Investing in technology is essential but many a times SMEs invest in sophisticated technologies just for the sake of doing it and later find out that it wasn’t necessary. The root value of internet for them lies in cost savings and expanding the market reach but upgrading to complicated internet technologies may cause a reverse action that is increase in cost. With substantial challenge in scaling the business, investing in technologies & tools like Enterprise Resource Planning (ERP), cloud based offerings or Customer Relationship Management (CRM) is fairly expensive & even a minor lack of scale can be risky with such kind of investment.
Internet based marketing can solve this problem to a large extent by giving an option to create online outlet for all kinds of goods & services just like Indian e-commerce is being doing so far. So to join the battle with existing players SMEs should begin with focusing on building online presence. Unlike a few years ago when building a website was very costly and difficult, now a days it’s just a task of few hours and SMEs can go from local to global. Such firms can extensively cut their supplier cost by employing a team that can consistently look for new suppliers online which gives them huge bargaining power.
If you are a small or medium enterprise looking for growing your business, ADG Online Solutions is an Internet Marketing Agency in Delhi that is there to help you build an online presence, sustain it and allow it to extract enough returns to invest in additional technologies.