Small and medium businesses (SMB) contribute over 50% to India’s GDP. While government initiatives such as Atma Nirbhar Bharat Abhiyan (ANBA) and the PM's 'Vocal for Local' campaign are creating stimulus for SMBs, technology has a critical role to play in driving their success. Whether it is streamlining supply chain and logistics, last-mile delivery, or building contactless payment and e-commerce systems, SMBs can grow and thrive when they pivot around technology.
The dramatic shift in customer behaviour, where customers have adopted digital touchpoints to access routine services – banking, education, healthcare, shopping, etc. – will continue beyond the pandemic. So, SMBs will not only have to build digital infrastructure to react with agility to this change, but also focus on the following key areas to spur business in the next normal.
Traditionally, B2B sales has been dominated by field-sales models, in-person meetings and product demos, given its complex nature that involves:
“As digital engagement grows, customers expect companies to digitise their operations for multichannel, high-touch interactions.”
As a small business, you can no longer afford to ignore marketing automation. With automation, businesses can drive a 14.5% increase in sales productivity and a 12.2% reduction in marketing overheads. While investing in marketing automation, consider a platform that:
With Salesforce Pardot integrated with CRM data, you can do all this and make every rupee count.
There is no denying that technology is a great leveler, especially when it comes to SMBs. The right tools can help companies to tap opportunities that otherwise require huge CAPEX, large teams, and in-house specialists. You can upgrade internal operations and processes and kick-start continuous innovation by:
“SMB leaders have been steadily using fewer apps over the past year, suggesting small businesses want to consolidate their technology.”
Other significant internal changes could include: