Digital Marketing for Business: Cost-Effective Strategies for MSMEs

May 23, 2024
Updated on

With the advent of new and immersive technologies, the importance of an online presence and branding is increasing. This is driving the need for cost-effective digital marketing for companies, especially small businesses, and building a digital brand for micro, small, and medium enterprises (MSMEs) in India. Reportedly, more than 77% of MSMEs are now embracing online advertising as part of their diversified marketing strategies. Research from Primus Partners shows that a remarkable 80% of small businesses attribute increased profits to their adoption of online advertising. Digital transformation of MSMEs can help them amplify their brands better, reach a larger number of targeted audiences and drive business growth through effective digital marketing strategies like utilizing social media for business.

In addition to the economic benefits, the integration of digital marketing also plays a crucial role in enhancing customer engagement and fostering brand loyalty. With the ability to connect with consumers on a more personal level, small businesses in India can leverage data analytics and customer insights to tailor their marketing strategies effectively. The accessibility of online platforms allows MSMEs to establish a direct line of communication with their audience, obtaining valuable feedback and adapting their products or services accordingly. The dynamic nature of the digital landscape provides businesses with the agility to respond swiftly to market trends and consumer preferences, ensuring a competitive edge in the ever-evolving business environment. Let’s explore how MSMEs can embrace digital marketing for business to boost their growth.

Exploring Social Media for Business

Building a strong customer connection and retention can be easily achieved with the various social media platforms, which is one of the most popular forms of digital marketing for business. Small businesses in India can leverage platforms such as Facebook, Instagram, Twitter, Pinterest and more to create brand awareness about their products and enterprises with ease. Utilizing social media for business is the easiest way to all communicate with their customers directly. With the options to set up Facebook and Instagram stores, MSMEs can capitalize on their potential for marketing for business, can sell their products to a larger customer audience and not be limited by geographical constraints. And advertising on social media will help MSMEs create a digital brand and increase visibility.

Search Ads and Mobile Advertising

Advertising using Google can be the most cost-effective way for small businesses to promote their products and services. The advantages of search ads include easy geographical targeting, reaching a larger customer base to promote and sell products and services and the ability to use keyword variations to tap customers to sell products and services. Mobile ads are more accessible to MSMEs for digital marketing as mobile technology has now reached rural areas making it easy for MSME digital marketing. There are a host of options to choose from including display ads, app advertising, native ads, video ads, etc. Smart devices are the best way for small businesses to implement marketing for business and reach the maximum number of customers.

Grow your MSME with collateral-free business loans

Leveraging Google Business Listings

Google My Business listings are a free resource and can be seamlessly integrated with the Google search engine with giving visibility through local SEO efforts. Google My Business helps MSME entrepreneurs explore SEO and list detailed information about their small businesses and increase their online presence. Adding reviews and answering questions about products and services will enable MSME entrepreneurs to connect with the customers and boost their loyalty. Business listing will show up-to-date-information about a small business on the Google search results. These local SEO efforts will also enhance digital marketing for MSMEs and enable them to reach a larger number of customers.

Using Tools and Software for Poster Designs and Creatives

Visual designs and posters add more colour to marketing efforts and especially in digital marketing. Visuals and creatives create easier retention and enable customers to look at the products and explore additional information about small businesses. Tools such as Canva are perfect for small business owners to learn and use designing software to create quick posters, social media creatives, marketing collaterals etc. Visual creatives will also enhance an MSME’s content marketing strategies and give them an opportunity to boost their customer experiences through digital marketing.

Adopting digital marketing for business, while affordable, can still require capital infusion. Kinara Capital, an RBI registered Systemically Important NBFC in India provides collateral-free MSME loans to help small business owners grow and expand their enterprises with the help of digital marketing and a variety of other business expenses. The free ‘Grow With Kinara’ workshop is designed to help customers and non-customers in the MSME sector to upskill and learn about new technology and upgrades that will help them digitise their businesses and reach the maximum number of customers.

MSME entrepreneurs can check their eligibility in just 1 minute to avail a collateral-free business loan through the myKinara app available for download from the Google Play Store. The app services small business owners in 7 different languages and MSMEs can go from decision to disbursement within 24 hours. Also, we have a dedicated customer support team available between Monday – Friday (9.30 AM – 6.00 PM) at our toll free number 1800-103-2683 for any questions or assistance. This ensures that entrepreneurs can get the help they need throughout the loan process.

MSMEs adopting creative and analytical digital marketing strategies will help them create intuitive campaigns online and reach targeted customers efficiently. Digital transformation will ensure that small businesses in India will be able to sustainable scale their enterprises and get global opportunities for growth and profitability.

Check your Eligibility in 1-minute!

Check your Eligibility in 1-minute!

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