India has crossed the US to become the second largest smart phone market in the world. A report by IAMAI-IMRB claims that urban India has close to 60% internet penetration. The rural India on the other hand has 750 million potential internet users. The overall internet penetration in India is currently around 31%. What’s more is that 77% of urban users and 92% of rural users prefer mobile as the primary device for accessing the internet, driven by availability and affordability of smart phones and lowering internet tariff rates.
When consumers are on the mobile internet, where would the companies be? The answer is – on the internet. With each passing day, entrepreneurs are juggling with different ways in which the power of the internet can be leveraged. Internet can yield them good profits, save money and help them operate more efficiently. Companies can do their bit by making their websites more interactive by adding surveys, guest books, auto-responders, downloadable documents and newsletters; include a shopping cart feature and deploy innovative strategies to drive more visitors to their official sites. The internet also enables organizations to submit invoices by e-mail, research about competition and even add relevant and interesting content to their website, related to their business. It costs less but fetches great results.
The internet is indeed a democracy on its own merit. Any seller from anywhere, big or small, can sell to anyone in any region, not only in India, but also abroad. They are in fact driving exports. It has the capability to generate greater revenues for an organization and can cater to a large segment of target audience, across geographies and demographics. No matter, if one is based out of the North-east or further down the southern State of Tamil Nadu, the whole of India is one’s target market; one can sell anywhere regardless of their geographical disadvantages.
In fact, internet and internet-enabled e-commerce are the most reliable way to expand one’s business, grow the customer base and earn consistent profits. No matter what the size of your business is, if you are looking to rise up the growth gradient, you just cannot ignore the power of the internet. It is not uncommon for small businesses with unique products to run out of inventory sooner than they anticipate, when they first use a digital platform to sell. In addition to providing a wider customer reach across geographies, the internet also helps businesses to manage resources better, remain operational 24×7 and provides unbound information.
There are hurdles too, but many of those are actually opportunities in disguise. Many organizations struggle to find an effective digital presence, invest time and effort in creating an impactful website, maintain content freshness, update business relevant content in real time, be discovered online, generate potential leads and subsequently pursue conversion. Having a website is imperative in today’s connected world, inhabited by digital natives. The dot com domain names are quite prominent in India and are also the world’s premier web address. Many businesses have found success with a dot com domain name. It is the global online standard, and that is why every Fortune 500 company and the world’s fastest-growing companies have a dot com web address.
The other advantage of internet is that it is playing a dominant role in organizing the immensely fragmented, unstructured and unorganized retail industry in India, represented by a plethora of local mom and pop stores, bazaars and groceries owned privately. The share of the country’s organized retail is at 8%, which is quite low if compared to other countries – the US 85%, UK 80%. However, consumer behavior is now undergoing a shift of sorts and they are having no qualms in buying goods and services online.
The most interesting aspect of utilizing the internet is that it has the unflinching ability to impact sales and marketing efforts, almost immediately. By merely hopping on the internet, in no time, a local craftsman can reach out to a national base of potential customers. Internet is making businesses grow. On the web, a small merchant is as potent as the biggest store. Offline businesses undoubtedly will continue to exist, but they will become more discoverable and will be able to sell more and sell more widely, thanks to the internet and the customers buying goods and services on the internet.
Through the internet, companies are able to provide more customized or personalized products and offers depending on their target audience’s preference and similarly, customers are spoilt for choice. Consumers today want to buy products and services at their terms, at their convenience and in their method and this is exactly where the internet is playing its role.
Even the smallest merchant located even in the remotest areas of the north-eastern sister States of India can create a brand, simply by going online. Even without heavy distribution machinery and marketing muscle which is usually synonymous with larger corporates. In a market like India, where much of the trade happens in small towns and cities, the internet helps merchants reach out to customers everywhere in the country.
Being present online is no more a matter of choice, but of indispensability. In a connected world of today, having a website or being present online is imperative for every business. Not only the customers can discover you with ease but can also find useful information about your products and services and get in touch with you. Internet today is at its very inflection point and businesses should take advantage of this to scale up. If the traders and businesses of the North- east wish to witness long-term sustained success, having a robust presence within the hyper-connected web space is the key.
