Digital marketing is a critical component of your company’s overall strategy. However, we believe that the question of whether or not MSMEs need it has remained debatable for far too long!
In recent times, digital marketing has dramatically altered the way Micro, Small, and Medium Businesses (MSMEs) engage and connect with their clients. It has enabled MSMEs to be at the right place and right time, and helped simplify customer acquisition at a suitable cost!
Here are 5 reasons why Digital Marketing is secretly the backbone of MSMEs.
How Digital Marketing Helps MSMEs
1. It is cost-friendly
If you own a small or medium-sized business, you are probably familiar with working on a tight budget. Although you might think Digital Marketing is expensive, it is actually the most cost-effective way for MSMEs to get a customized strategy and marketing help. Google’s study shows that a business can get over 2.8 times more revenue via a digital presence than those who do not opt for it. Your business needs an online presence for a variety of reasons, but the flexibility and ease of controlling your costs are the most vital ones for small businesses.
2. It allows you to stay competitive
Competing with large enterprises for a share on offline shelves is hard for young brands. Both below-the-line and above-the-line promotions are expensive and require substantial investment. Thanks to digital marketing, the gap between companies, irrespective of their needs or budgets has shrunk over the years. While large organizations have bigger budgets to spend on paid ads and advanced technology solutions, most platforms give MSMEs equal opportunities to compete, improve brand awareness, and build an audience.
3. With Digital Marketing – the world is your oyster!
Expanding your company to a new geographic location via traditional marketing strategies is a challenging, time-consuming, and expensive process. 59.5% of the global population has access to the internet – that’s 4.66 billion people! Unlike traditional marketing, with clever awareness campaigns on social media platforms, you can reach anyone and everyone who has access to the internet. Today with the right digital strategy you can reach out to your desired audience across the globe without any ground barriers. A well-defined and well-executed online marketing strategy can put your business on the map without an exhaustive budget.
4. It increases customer loyalty through communication
GoPro is adventurous. Mercedes is luxury. India Circus is quirky. We all agree to this unanimously, but why? How do brands even have these personalities? The answer is digital marketing. The content they produce on various platforms enables them to construct a personality for themselves. Your brand personality plays a significant role in building brand loyalty. Research shows that brand personality is capable of enhancing customer loyalty and improving customer satisfaction. In today’s competitive market where most products are very similar, ‘who your brand is?’ has little to do with your product and a lot to do with who wants your brand, especially if you are a product company. Your brand’s online presence allows you to maintain a consistent voice on multiple mediums to carve out your niche with ease.
5. It is easy to measure Marketing ROI
MSMEs benefit from digital marketing because it is easy to measure the impact it has on your target demographic. It gives the flexibility to develop the best plan for your brand on the go and evaluate the impact of your marketing efforts in real-time.
We don’t deny that in a market full of choices and loud noises, it’s harder for MSMEs to stand out. It is important to choose a branding and marketing partner that has experience and expertise and most importantly, would treat your brand as their own. Collaboration is the key! And Brand NEEV offers you just that – a collaborative, full-service, and truly transformational experience that is affordable. We work closely with you at every step with a solid commitment to delivering excellence that makes a difference.
Let’s start a conversation by getting to know you. Click here to reach us for more information.