Given its geographic location and the fact that 40% of its products are exported, India offers enormous growth potential for SME businesses. Digital marketing is crucial to the growth of small businesses. There are numerous additional ways that digital marketing contributes to the expansion of small businesses.
Given its geographic location and the fact that 40% of its products are exported, India offers enormous growth potential for SME firms. Digital marketing is crucial to the growth of small businesses. There are numerous additional ways that digital marketing contributes to the expansion of small businesses.
Why is Digital Marketing Important for the Growth of Small Businesses?
What are the main justifications for the significance of digital marketing for small business growth? There are numerous. Let’s examine each one in more detail.
Organized e-commerce sector growth
By 2022, the burgeoning Indian e-commerce industry would need approximately a million new employees in the field of digital marketing. The e-commerce industry will help more than 20 million small and medium-sized businesses expand.
These numbers demonstrate unequivocally that digital marketing will serve as these SMEs’ primary engine in the years to come. These SMEs would miss the present e-commerce boom unless they implement digital marketing and raise awareness of their firm, brand, products, and services.
Many of these SMEs now offer their goods on independent internet retail sites. However, it might be challenging for a buyer to conduct a precise search given the millions of products that are displayed on e-commerce portals. As a result, the brand or small business may never appear in search results on a major e-commerce portal and lose out on the chance to gain clients.
India has a growing smartphone and mobile internet market.
In less than two years, there are predictions that India would have over 442.5 million smartphone users. The causes of this exponential expansion are varied. India had about half as many smartphone users in 2019 as there were in 2018.
What are the causes of the country’s rising smartphone usage? The main cause of this rising trend is a decline in smartphone pricing. As a result, people from the lower income category may now afford smartphones.
According to a number of statistics, mobile marketing, which mostly involves smartphones, accounts for around 70% of all e-commerce sales in India. According to reports, this number is also rising as mobile service providers enhance their connectivity in outlying locations to offer high-speed mobile Internet.
This is among the main justifications for why digital marketing is crucial for the expansion of small businesses. Rural enterprises that previously had to rely on small local markets may now be able to flourish and expand into larger domestic markets and eventually even international ones.
Growing Popularity of Mobile Apps
In India, there are an increasing number of apps available for smartphone users. We have applications from numerous Central government agencies. Then there are apps from banks, online merchants, transportation companies, and virtually every other service offered in the nation.
Apps are used by people for a number of purposes. This could include everything from online service requests to the federal or state governments. or to send money to friends and family. They are helpful for both investing and shopping for items of various kinds online.
The majority of daily-use applications, like news apps, rely on advertising to support themselves. In India, there are innumerable companies of all sizes using these apps to promote their brands using smartphone-based apps. And this market is crucial to the expansion of small businesses.
Small businesses typically lack the resources to invest in low-cost advertising campaigns on established marketing channels, like print and electronic media. Digital marketing offers the best option for small business growth in such a situation.
A small firm can use digital marketing to promote its ads across multiple apps for a fraction of the price of traditional or conventional advertising. Apps facilitate rapid decision-making because they are typically used while mobile. A small business can therefore expand as a result of the immediate sales that these apps can gain either directly or indirectly through effective advertising. Hire an top digital marketing agency in Mumbai, They will look after the business growth activities through digital marketing strategies.
High Use of Social Media in India
Indians are among the top users of the social media site Facebook, with approximately 240 million Monthly Active Users. In India, there are also a sizable number of users of Twitter, Instagram, and Pinterest. Social media thus offers a fantastic chance for small business expansion.
For very little expense to the business, they may have a great social media presence and market their services to attract additional clients. Since social media marketing is a crucial part of digital marketing, it can contribute significantly to the expansion of small businesses in this nation.
You’ll notice that there are a number of advertisements from various businesses that frequently appear if you pay attention to your Facebook page, Twitter account, or Instagram account, among other places. Some of these advertisements frequently persuade us to “Like” and share them with our friends, on groups, and on our personal Facebook Timelines.
Social media marketing utilizing the entire platform is considered to be quite successful. For this reason, some of the biggest companies in the world have fantastic social media profiles with engaging and pertinent material for users to “Like” and “Share.”
Digital marketing processes are not complete without social media marketing, which enables small businesses to very immediately raise awareness of their brand and line of goods and services. You may also control how and when your advertising are shown on social networking platforms. A skilled social media manager may assist your small company’ social media page in gaining thousands of “Likes,” making it very popular and promoting growth.
Utilizing a variety of digital marketing channels
The ability to leverage many channels is yet another key point in why digital marketing is crucial for small business growth. This implies that you can utilize a combination of many channels to advertise your small business for growth rather than just one in order to get a higher growth rate.
Create Major Impact Over Competitors
It is obvious that digital marketing plays a significant influence in many of the world’s greatest small business success stories. These businesses had modest beginnings and had made very little investment or infrastructure.
However, digital marketing is assisting these businesses in maintaining their competitive advantage over their rivals. However, with time and with effective digital marketing, it can become a significant element in the expansion of small businesses.
Enter Newer Markets
The capacity to quickly penetrate newer markets is a great reason why digital marketing is crucial for small business growth. To build brand recognition in these new areas at a low cost, your small business can take advantage of the power of social media ads, Google AdSense, blogs, and affiliate marketing among other options.
And after using these digital marketing strategies to provide wonderful results, it becomes simpler to enter the more recent market and watch your small business expand rapidly. This may take some time, but it is possible with effective digital marketing.
As we’ve seen, these are the main explanations for why digital marketing is crucial for the expansion of small businesses. Digital is undoubtedly the way of the future. Therefore, every small business must use digital marketing as a component of their overall growth strategy going forward.