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How Can Digital Marketing Be The Saving Grace For MSME's

Today, you will find competition at every turn, no matter which industry you are from or what business you own. And it has proven to be especially true for the small and medium businesses in recent times. These couple of years have really been cruel on many small businesses and have tested everyone's patience.



In such times, DIGITAL MARKETING has really been an alternate platform that has kept some of the businesses alive. Those who understood its worth at the time, managed to keep their dream going. These recent years have stunted the growth of many MSMEs. But that doesn't mean that survival of businesses during this pandemic is impossible.


In such a challenging time, Digital marketing has proved to be the need of the hour. It is what is needed for businesses to flourish, small and big. Today, it is not enough to just have the knowledge of how to be an entrepreneur or how to run a business, a strong Internet presence is also needed for that business to reach the market. Proper advertising of your brand, creating online traffic for your website, targeting the correct audience with original and authentic content, etc such tools are also what decide the fate of your business.


What's baffling in all this is the fact that these SMEs are the backbone of the Indian economy. They contribute around 29% towards the Indian GDP and generate employment opportunities for the citizens, yet they do not have the proper resources to expand their market reach and growth.


DIGITAL MARKETING'S EFFECT ON BUSINESSES

According to surveys conducted, many of the small and medium business entrepreneurs know the effect digital marketing will have for their business and how it can expand its reach. But a considerable number do not know how to properly use that strategy. They lack the knowledge and the experts to make proper use of the marketing strategies to create a bold presence for their business and as a result of this, their businesses suffer.




LACK OF CAPITAL - A MAJOR REASON BEHIND MSME's STUNTED GROWTH

For a lot of these businesses, money is a big reason for the lack of a social presence. They cannot generate enough capital to build a strong technological team or hire experts to handle the digital side of the business. And as a consequence of that, their quality of work comes into question and they are left far behind in the race. To help these SMEs, India’s MSME ministry has proved to be a great resource. They have conducted workshops to familiarize the entrepreneurs with the digital tools of marketing strategies so that they can be at par with the others at such crucial times.


WHAT MORE CAN YOU DO TO GROW YOUR BUSINESS? INNOVATION IS THE KEY - FOCUS ON MORE UNIQUE AND PERSONALIZED CONTENT

Having the knowledge and the capital is a necessary prerequisite but what happens afterwards? How do you ensure a strong online presence and expand the reach of your brand? For that you need to have a consistent and reliable image of your brand. But that is not all. You need to be updated with the modern and latest technologies that you can incorporate in promoting your business. Keep innovating, Use different technologies like AI ( Artificial Intelligence ) or Data Intelligence and use unique ideas that will strike a chord with the consumers and make your brand stand out.


Always understand the market situation before applying an approach or a strategy for your business and hire professionals and experts to help with these data analysis. There are several factors that influence your businesses’ market presence in a digitalized world. It is important to understand that every brand is unique and has a different marketing approach and strategy for its expansion. And they achieve that because they have a clear sense of their targeted audience.


KNOW YOUR AUDIENCE

Knowing who your audience is , happens to be one of the most crucial aspects of a digital marketing strategy. Your audience can be of any age group depending upon your brand and likewise you need to organize your efforts towards achieving maximum engagement or awareness from that audience. Have clear goals of what you want to achieve. For example, your goal for your business could be brand awareness, or engagement through authentic content or generating maximum traffic online or trying to attract new customers etc. Whatever your goal is, your efforts need to be aligned according to that.


CAMPAIGNS AND CONTESTS GO A LONG WAY TO UNDERSTAND YOUR AUDIENCE'S NEEDS AND DEMANDS

Online campaigns and contests for marketing and promotion are a really effective way of reaching new audiences and understanding their needs and concerns. You can get a clearer sense of what the need of the hour is and what is expected from your brand. Hence, understanding your audience and setting your goals accordingly is important for a good social media strategy. Another digital tool at your disposal could be through the social media metrics tools. Measuring your brand's performance and engagement rate to determine further actions and goals could lead to the road of success.


KEY TAKEAWAYS



One thing to keep in mind while strategizing for your business is authentic and novel ideas. Remember, the audience connects with the brand that they think is unique and one that strikes a personal chord. They respond better to personalized content rather than generic one. In a world, where they are surrounded by advertisements all the time, you need to provide them with something that'll make you stand out and make it easier for them to remember you.


CONCLUSION

Having a head for business is indeed a talent but having the awareness to expand it and make it reach the world is another thing. With the new and modern tools and technologies being introduced everyday, one needs to keep up and know when and what to incorporate to make their brand grow.


That is what proves to be the deciding factor in the end and differentiates you and your brand from others.

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