The small and medium enterprise (SME) segment in India is fast realising the benefits of adopting a dynamic marketing strategy to establish its brands amidst a tough business environment. An increasing number of SMEs are joining the dotcom bandwagon to generate business in the e-market. More and more small and mid-sized companies are planning to establish an online business presence to improve their operational efficiencies and cut costs. Besides, small businesses are becoming increasingly reliant on e-commerce to expand their operations and be a part of the global trade.
Earlier, the SME segment focussed primarily on traditional marketing mediums and business channels like participating in international trade shows or hiring sourcing agents. However, the changing times have prompted small units to opt for online marketplaces that offer extensive benefits and help them reach out to customers worldwide. Online marketplaces make global sourcing and marketing available 24/7 at little or no cost, thus proving to be an ideal and effective platform for small businesses in troubled times like these. These platforms also remove both geographical and time zone barriers, thereby offering greater advantages to small businesses than the traditional marketing sources.
With cost-cutting becoming the chief priority, small and mid-sized businesses are laying thrust on e-commerce to do business, both on international and domestic fronts. Indian SMEs are using the online marketplaces to expand their customer base in emerging markets like the Middle East, Latin America, Central Asia, Southeast Asia and Eastern Europe. Companies that have opted for online marketplaces have already seen a substantial increase in enquiries and overseas orders from international clients in the recent months.
E-commerce allows businesses to weather the economic challenges, gain access to new markets and tap opportunities. With global recession adversely affecting all segments, it has become important for small firms to proactively market their products both in the local and overseas markets to gain an edge in this challenging environment. To conclude, e-commerce provides the best exposure to a business and gives it a head start in the competitive market.
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Saurabh Garg
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