MSMEs (micro-small and medium enterprises) lead in industries that are affected by COVID-19. MSME can benefit from clear rules regarding access to finance, markets and cutting-edge technology, as well as the favorable environment created by sensible legislation and policies. They can also gain insight from real cases of successful policies, such as repurposing which produced high financial returns. MSME can be catalysts for post-crisis economic revival by creating employment opportunities and directing sustainable economic growth.
While the fact that MSME’S must scale to support their growth is no new, the techniques that can be used for this purpose are more sophisticated and advanced than ever before. These are the top practices that MSME’S can use post-crisis.
1) Technology: Using technology to build digital networks can give a lot more thrust to already-impacted MSME businesses. Social media sites like facebook, twitter, Instagram, and instagram can be crucial in promoting a brand’s visibility and reach locally. Small online events such as giveaways and games can help to spread the word among local communities. It can be very useful to study the marketing and branding habits of top brands, and how they change over seasons and festivals. You can collect data using a variety of online tools to track the behavior of ideal prospects while also keeping an eye on current trends in the industry. Keeping track of customer purchases leads to optimization and proactive marketing for new services and products. A local developer can be hired to create a simple, if not dynamic website according to your business’s needs. Your brand is not online if you don’t have one.
2.) 2.) Connect with NGO’S AND NPO’S: This is an old strategy for SME development. The wider the brand’s reach, the better. In the past, business owners would meet with NGO officials to discuss products and services or employment generation. This can all be done online through Email. If both parties meet the conditions, this could lead to a fruitful collaboration. These organizations bridge the gap between marketing and employee-generation within local businesses and areas. As a marketing strategy, MSME’s should reach out to them. Because they are closer to the law and order of their undertakings, it is easier to spend more time connecting with them.
3.) 3.) It can be used in any industry that is growing. CRM software was created to collect the company’s contact information, including email, website, products and phone numbers. It provides useful information such as staff names and phone numbers, sales history, feedback, suggestions, and so forth. CRM software consolidates all customer-specific information into one CRM folder. It makes it easy to manage an organization.
These are some of the best strategies that can be used to market MSME. They could also help MSME post-crisis exports. The Indian Prime Minister’s “Make in India” campaign has led to a revival of local e-commerce platforms. This has been aided by WTO approved Trade Facilitation Agreement.
