Newly Digitalized MSMEs In India Require Offline marketing Like Internet Marketing

While digital marketing might be crucial to keep pace with the new trends in digital that have come out post-Covid-19 pandemic, it could not be everything micro small and medium companies (MSMEs) require. According to a team of experts, the need for digital marketing in MSMEs and other offline and online marketing strategies must be combined to create intelligent hybrid brand awareness strategies for small-sized businesses.
 

Preeti Ubale co-founder and COO of software firm SMBXL said the fact that MSMEs need immediate cash flow and mass media, such as radio, television hoarding, pamphlets, and hoarding are able to provide that quicker. Digital marketing campaigns require time to produce results unless they're paying for a marketplace or platform. "The only way to bring them immediate sales was walking on the streets, walking and interacting with their customers, speaking to them and convincing them to buy from them. Thus, this was instant sales. When it is digital, it's not instantaneous," Ubale said.

She said that there's no formula that can be used to allocate money for each of these marketing efforts and it is all dependent on the stage the business is at. Additionally, Amoli Nagpal is the head of the SME and e-commerce segments at the IT firm Admitad Affiliate Network India stresses the importance of a healthy mixture' of both online and traditional marketing efforts when a small-sized business has the goal of increasing the return of investments (ROI) and sales. When developing strategies for marketing, it's essential to establish the your target market and niche in order to increase brand awareness. A company that is catering to the needs of people between 20 and 30 years old olders could benefit more when more money is allocated to online-based campaigns.

Covid-19 was among the primary reasons behind the rapid digitalization of the country's 6.3 million MSME. Offline deals were shut down and contacting customers was extremely difficult. Small-scale businesses were left with no choice other than to use their internet-based tools and tactics for marketing to establish their presence. Five out of the ten (or approximately 53 percent) micro and small-sized enterprises in India used digital sales channels like marketplaces, online aggregators and mobile marketing, and social media until January 2021, according to a research report is based on an analysis of 566 companies was noted. The rate was three of 10 (or approximately 29 percent) pre-pandemic.

In fact, Indian Fintechs have joined forces to assist this sector in overcoming their most difficult issue of accessing capital. But, the lack of data is still a problem for the majority of fintechs who attempt to help, and their solutions will only be utilized fully when that obstacle is cleared.