- Capturing markets through print and digital media.
- Customer relationship management as the new success mantra.
- Trio of rapport building, competitive pricing, and social networking for effective marketing.
New Delhi, 03 December 2009: With media becoming expensive by the day, devising a low-cost marketing strategy that is high on technology is becoming increasingly tough for Small and Medium Enterprises (SMEs). For a closer look at the issue, The Indus Entrepreneurs (TiE) and IndiaMART.com organized the ‘Envisioning the Wired SME conference’, at the Sheraton, Saket, in New Delhi, on Saturday November 28th.
Run on tight budgets, splurging money on promotion is a pricey affair for small-scale industries. Deliberating on How to market cost effectively and get more customers, Mr. Sidharth Gupta, CEO, GETIT Infoservices, highlighted the three Ps in choosing the right kind of media: presence, performance, and permanence of the media. Although every business has specific customer base and media channels, an effective mix of both print and digital media can ensure better visibility in the markets, he stated.
Youngest on the panel, Mr. Brijesh Agrawal, COO, IndiaMART.com, had some time-tested marketing strategies to offer. Citing the case study of his own company as an example of scaling up using low-cost, effective media channels, Mr. Agrawal said, “Young entrepreneurs and SMEs operating in the B2B mode should work out a balanced recipe of traditional marketing and online strategies and concentrate on building customer relationships. Discounts and package deals can go a long way in attracting customers as they offer something more than the expected, he added while discussing the ways to draw more sales.”
Taking a leaf out from his own experiences in starting up, Mr. Harish Bahl, CEO, SITG, addressed the importance of adapting to new technologies of online marketing. Low on cost and time, social networking through Facebook and Twitter and Blogging can help SMEs in reaching out to global platforms. The key is to focus on your customers’ need and create unique, customized solutions for them, he added.
Effective marketing means mass communication. And what better than trade shows, opined Mr. Prem Behl, CMD, Exhibitions India Group. Contrary to traditional beliefs, trade shows can be zero-cost affair too; even as a visitor, you can generate good business prospects. By identifying prospective clients from traders directories, attending technology-centric fairs, gaining expert opinions from seminars, and doing a little bit of word-of-mouth marketing, one can easily establish good business contacts, without costing a dime, he added while commenting on how trade fairs are getting out of the reach of SMEs.
The event, chaired by Mr. Sanjeev Bikhchandani, Founder, Naukri.com, provided insightful views on the art of smart marketing by leveraging technology and the Internet.