The explosion of technology, especially with the advent of the internet has rightfully changed the course of business operations and marketing across the globe. In India, there are more than half a billion internet users who spend most of their waking hours glued to their phones, laptops, desktops, tablets, and other gadgets. This implies that people can actively seek out brand awareness in India via digital media, making it essential for businesses to reach customers through digital channels.
For small businesses, digitalization is a boon as it reduces operational costs and helps them target a larger audience. Small business owners have been able to facilitate a better informational exchange and improve growth, funded by small business loans. Consequently, they can create a brand presence and reach their target audience before an actual conversation.
Advantages of digitalization
All big businesses start small, and the key to growth is quality, consistency, and efficiency. Small business owners can achieve this by adapting to the digital era and changing the mode of operation to provide faster service. They have a variety of digital platforms including websites, blogs, email, mobile wallet applications, social media, etc. to acquire visibility and attract customers. Some small businesses may also look for loans at reasonable business loan rates to fund these digital activities.
Simply put, digitalization offers more value-producing opportunities by:
● Saving operational cost
● Building brand presence
● Increasing content distribution
● Reaching a large audience
Creating brand awareness
Showcasing a business through social media platforms and websites is also known as business branding. Here, customers can familiarise themselves with the product and services without visiting the store or office. Since one can easily research the product and decide whether it’s worth purchasing, creating brand awareness in India by distinguishing the product from its rivals is of utmost importance.
Small businesses have grasped this concept and used digitalization to acquire visibility in the digital space. Having an online brand presence allows these businesses to tell customers what their business is known for, and reasons why their product is superior. MSME loan and SME loan is also provided to enterprises looking to boost business by increasing visibility on platforms such as YouTube, Facebook, LinkedIn, etc. Spreading this type of brand awareness is beneficial as it helps businesses find and retain loyal customers. It also comes in handy while introducing new services and products in the market.
Building customer relations
When customer relations suffer, business suffers. Since customer relationships are key for business growth, businesses must cater to their customers and retain them for as long as possible. Digitalization makes this easier by:
● Improving the customer’s brand experience
● Allowing small businesses to communicate directly with their target audience with personalised messages
● Developing trust by providing quick responses and personal touch
● Accepting feedback and answering queries regarding the product
Small businesses have quickly become aware of the need for digitalization and its advantages over other forms of marketing. These businesses are capable of getting loans at low business loan interest rates to fund operations.
After satisfying all the business loan eligibility criteria, and gaining proper finance, they are able to facilitate meaningful interactions, distribute content, and establish a loyal consumer-base in this ever-changing digital world.