Optimal Time for SMEs to Market Through Internet

Who would have thought about online business two decades ago? Furthermore, ten years back, who would have thought about online marketing? But today, it is the reality for most of the businesses across every genre and every economic status. Online marketing has replaced the traditional ways with its efficient and comprehensive tools, especially benefiting SME sector worldwide.

With cyberspace usage leaving the market astounded with a host of advantages in its kitty; now, is certainly the best time for smarll businesses to market through Internet and tap a much larger base of buyers. Utilising such an opportunity, online business and marketing platforms like IndiaMART.com have heralded a wind of change in the SME sector through their Internet-based comprehensive service range to buyers and suppliers alike. Armed with a paraphernalia of value added tools and services like online trade enquiries, trade alerts, etc., Internet-based interfaces are a boon for the SME sector. Likewise, social media sites and blogs also hold great potential to drive online marketing to success.

Following are some of the benefits which the SMEs can reap off internet marketing:

1. Wide reach – The world wide web has indeed lived upto its name. Reaching people across varied age, interest, demography, socio-economy group, etc has become possible only through the advent of Internet. According to Miniwatts Marketing Group, approximately 1.67 billion people worldwide use the Internet, as on June 2009. SMEs can actually build business at international level without splurging money on frequent globe trotting trips, all because of Internet marketing.

2. Free or low cost of information distribution – Shortage of credit is one of the biggest problems faced by for every SME. And online marketing comes across as a blessing for them as it allows for cost-effective dissemination of information about their enterprise and products, to the target audience, Indian or global. Isn't it better to upload product catalogs on web pages for negligible cost rather than have expensive print outs of leaflets and pamphlets?

3. Devoid of time constraints – Available 24X7 to the users, this platform provides flexible business and marketing opportunities to people unlike traditional media like print and electronic. Moreover, Internet also has a vast shelf life, which implies to information availability for a longer period of time. This enables brand retention in audience minds, giving good exposure to SMEs.

4. Interactive nature of the medium – With more and more communication platforms like social media sites, blogs, polls, discussion forums mushrooming in the virtual world, it has been an upward drive for online marketing all the way. According to a recent study, social media site Facebook has 300 million registered users accessing social network. SMEs can utilize this approach to build customer relations which may lead to business leads.

5. Blurred demographic boundaries – A small business owner can carry out successful business transactions with a buyer operational in USA or UK or at the other end of the globe, sitting in the comforts of his office in India. Demographic constraints have been lifted by the arrival of online marketing.

With such rewarding features, Internet marketing hosts enormous opportunities for sellers to connect with the buyers and promote their businesses.