Penetration Strategy For SMEs Using Digital Marketing Techniques

Published by MBA Skool Team, Published on December 18, 2017

With the rapid growth of internet around the world especially in India had created a larger set of opportunities for the businesses that use digital as their platforms. Combining with Big Data no one have ever imagined that they are going to change entire consumer experience in the coming days. But the fact is they have already started. In this article now let us briefly see what all are the major contributions of digitalization, Analytics and Bigdata in enhancing the consumer experience and facilitating the ease of doing business for SMEs. Since they are coming with a new idea that could solve an existing problem and they don’t have huge marketing budgets they can reply up on digital marketing techniques to gain popularity and revenues. So, let us see now how can the strategy be made for these firms using the available digital tools and internet.

The first and foremost thing that the company has to do is to create a brand awareness so that everyone comes to know about their product or service. So, for this the starting step would be creating digital content e.g. blog or a website and authoring relevant content about your product and services. Then the next step is to contact the influencers so that they can know about your product.

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Companies can also invest in SEM to create advertising. However, this involves extensive research and efficiency. So once the blog is done then company need to focus on developing an efficient website that would give a rich consumer experience to the visitor who landed to that website. This can be done by hiring good content creators who create content in form of images, videos, posters which are the things that attract the consumers at first look. Developers need to monitor the website continuously to track the user journey of consumer.

The next step of creating conversions for the firm is in social media through Social Media Marketing. Based on the product, with the help of various filters available in Facebook, LinkedIn, Instagram several Ads. can be targeted to the potential consumers on digital platform. With 241 million Facebook users India ranks 1st in number of Facebook users while US stands second with 240 million users.1 From this it is evident that the number of internet users are growing more and more in India. The filters in Facebook gives access to huge amount of consumer data related to demographics, Interests, Income levels, Education etc. So, by choosing the right set of audience trough filters and right budget and through creative content the number of conversions can be increased for the company. This is how we use Big Data for marketing our products.

This helps in promoting right products to the right consumers. Have you ever wondered why men don’t get any Ads related to women’s clothing and jewelry on their Facebook or LinkedIn or Instagram? This is because firms target both segments separately. This is one of the key advantage of going for digital Marketing compared to conventional marketing methods. For example, we can talk about women’s shampoo Ad. being telecasted in TV but watched by many of the bachelor boys or men which doesn’t create any impact on them. The same goes with the newspapers and brochures and roadside posters. In conventional Marketing advertising is done in a more generic way to all irrespective of the preferences. So, this involves in wastage of lot of Marketing budget. Imagine a Saree Ad. displayed at a movie theater where majority of audience are men. So Digital Marketing with the help of Big Data and Analytics help firm to easily target the right audience with the right products.

Then the next step after Social Medial Marketing is to use the Analytics to drive sales and create a better consumer experience. So, using Analytics we are able to see what kind of product the consumer is looking for in the website and send him the relevant product with some attractive offers so that sale can be converted. If he hasn’t purchased it another campaign can be launched with more satisfying offer with the help of various free campaign tools. Several CRM tools can be used for this like Adobe Campaign, IBM Unica etc. So, this way Data Analytics is providing firms a unique way to identify consumer needs based on his buying behavior and sending him the right products with satisfying offers for conversion.

Going further ahead Virtual Reality can be used to enhance the consumer experience to the higher levels. If we see an App called ‘MakeUpGenius’ launched by Loreal is providing a unique experience for the teenage women. Once you download and put it in selfie mode you can choose different makeup products and it will virtually put them on face so that you can have a look before you actually purchase it. Once satisfied with the products it automatically adds the exact products to the cart and you can checkout easily. This way virtual reality can help in improving the consumer experience. ‘LensKart’ is also providing 3D Try option which is of great experience. To think furthermore the same virtual reality concept can be implemented in an ecommerce website like Myntra, Jabong etc. where a full picture of user can be uploaded by himself and select a shirt or pant then it auto applies to our body and give the exact look after wearing them. This was it overcomes the problem of trial before buy which is the major facility of only offline shopping. So, company can think of investing in virtual reality to enhance the consumer experience and to become unique with respect to the competitors.

Chatbots can also be used in the website by integrating voice based search to fetch the right products to the users. As many of the users are not aware of using the filters that are already available in the site this Chatbots can help them providing a better experience. Chatbots can be developed with Artificial intelligence and Natural Language Processing(NLP)2 techniques so that they get adopted to the consumer conversations in a shorter span and serve them better. So, this way all these different techniques can help any emerging SMEs to rapidly gain publicity and to fetch revenues.

Yet there are some cons that act as major concerns for any firms using digital for their businesses. They are the data privacy issues. Recently there was an issue in Spain regarding the collection of data by Facebook and lending it for small businesses to use it for their promotions.3 So this can be addressed by being more open and ask the user before the data is collected as done by several apps in Android which asks the permission of user to collect data before using it. Also, firm should ensure that they are aren’t disturbing consumers with too many Ads. Per day and filling up their inboxes and sending notifications for every hour. This creates a privacy issue which is not very good. So, companies have to be clear about the consumers privacy and not irritate them too much. So, implementing digital Techniques by respecting privacy of consumers will take company to a stronger position in a shorter time.

This article has been authored by Pardha Saradhi Reddy Veeramreddy from IMI New Delhi


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