Indian businesses are majorly segregated into two different components – The Big Scale Industries and SME business entities. Ever since the Indian independence, the large scale industries had the financial muscle power to establish its brand throughout all corners of the country taking full advantage of the electronic media era. The big names in the market which we know today are all beneficiaries of mass advertising through televisions, All India Radio or through sponsoring major events which were telecasted in these mediums. The Small and medium scale business enterprises were subjected to local branding as they could not afford the financial power to reach out via electronic media.
Impact of social media on Indian Businesses
Everything changed in the late 2000’s. A website which was started to keep friends, families and long distance relationships; together eventually opened up a revolutionary gateway which has changed the way marketing is carried out in the present years. Social Media Marketing has given an opportunity for SME category companies to reach out to the public across the streets, cities, state and international borders. SME companies and starts up are the biggest beneficiaries of Social Media Marketing today.
Here are some outstanding statistics which would make your jaws drop. As per the 2013 year survey, around 190 million Indians were connected to Social Media across all ages with a 4time growth prediction by 2018. The significant growth is to be partially credited to the penetration of Internet accessible Smartphones which have is predicted to connect both the urban and rural ends of India by 2020. About 48% of the smartphone users fall in the age group of 18-24 which, by marketing standards is the right segment to target consumer good.
Out of the total population who are connected to the internet, about 86% visit /open an account with a social media website. Facebook tops it with around 90Million users followed by Twitter with 33Million users and finally LinkedIn with 18Million Indian users and is expected to grow by a minimum average of close to 30% by 2018. So how does all this help the SME businesses in India?
SME can generate leads, Drive Sales, Increase Brand Awareness, Reach new customer segments, Drive customer engagement, Gain customer insights, Cost savings / Productivity Improvement at a ratio on par with the big scale companies using tools such as Website, Social Media, Email for Marketing, Search Engine Optimisation (SEO), Videos and Photos, Mobile Apps, SMS and Whatsapp . 95.7% of organisations and business entities in India use social media to build communities, 76.1% for highlighting brand news, platform specific parameters such as number of likes, share, and comments about the company are considered by 81% of the organisations to measure their success. As far as the budget is concerned, most of the organisations set budget below INR 10 million on their social media spending that makes 1-5% of their total marketing budget. Companies also tend to fill up their top level vacancies using Networking sites such as LinkedIn.
The end results arrive in sales, Leads, Brand and Good talents interested in joining the company based on the posts and shares updated on the social media page. This has invariably put a lot of SME businesses on the world map purely based on their success stories shared and the Digital Marketing campaigns planned by their DM team.
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