Is your business TRULY digital?
If your business process isn’t online, it isn’t at its best
We live in a world where we connect more over digital screens than we do face to face. Whether
it’s keeping in touch, shopping or making hotel reservations, it usually begins and ends
on a connected device. If you’re a Small and Medium-sized Business (SMB) owner trying to
make the most of the latest digital trends, it’s time to take your business online. Here
are three reasons why.
1. Digital is where the money is
Thanks to the rise of internet penetration and smart devices,
more Indian customers are spending online, adding around 90 million online buyers
in the past three years alone.
India is now the fastest-growing market for e-commerce, reaching an estimated worth
of $64 billion by 2021. And if customers are online, that’s where you should be too.
Many businesses have already cashed in on these opportunities by offering online stores
and delivery options. Every second you’re not online, is an opportunity missed.
2. Data improves your sales strategy
One of the biggest advantages of e-commerce is the sheer amount of customer data you now
have access to. Remember the last time you searched for cheap flights, and the next thing
you know, you’re seeing flight-related web banners on every website you visit? That’s the
power of digital customer data at work.
Often when businesses spend money to promote and advertise their services, there is little
feedback about how customers are responding to these marketing efforts. E-commerce on the
other hand provides you with data insights to track your customer’s buying behavior and be
more responsive to their needs.
3. Your peers are making the switch
Everyone wants a slice of the digital pie. To survive, you need to keep up with this technology
change.
We’ve seen many once-great firms pay huge prices for not doing so. For example, Kodak held
on to its film-based cameras for too long, missing out on new digital opportunities and had
to shutter its camera business eventually. Other big names like Borders and Nokia suffered
similar fates because they were unable to keep pace with digital consumer preferences.
Summary
This is even more crucial for SMBs in India, where competition is tough. Fortunately, there are plenty of free resources
to help you go digital more easily. For example, initiatives such as
Startup India help you obtain government subsidies, granting you greater financial
flexibility to venture into e-commerce.
And if the digital transformation journey seems too daunting, just remember,
you don’t have to take it alone. Take advantage of the agility your SMB has, go digital
and conquer.
HP for Business
Security. Reliability. Performance.
Join our HP for Business community today to receive exclusive tips, invitations to local networking sessions and online skills training materials to equip and empower you for the day ahead.