As manufacturing costs across the world continue to rise, more buyers from overseas are looking for sourcing options from countries with distinct, quality products at competitive prices. Indian manufacturers have demonstrated a proactive approach to understanding the buyer's needs and are making a conscious effort to move away from the traditional methods and more into innovation. It is not surprising therefore that with the incredible number of growing enterprises in India, the country is increasingly being recognised as a hub for manufactured products for export.
Thanks to e-commerce and the internet, industries such as machinery, chemical and engineering amongst others have witnessed demand come in from APAC, BRIC and other emerging countries. We have seen small businesses in the machinery industry leveraging the power of e-commerce to make the most of global opportunities. This is reflected in machinery being the top category for buyer inquiries made to Indian suppliers on our website.
Other top categories include agriculture, textile, minerals, chemical, automobile and apparel. This brings to the forefront that there are endless opportunities that the internet can offer. Let us see the various ways in which Indian SMEs can effectively leverage the power of the web.
Embrace the net
SMEs who embrace the internet are able to take their business to new heights. E-commerce platforms provide small businesses with opportunities to establish their presence on the internet by providing them a one-stop shop, identifying potential trading partners, learning more about global trade, sharing trading experience and interacting with each other to conduct business online. Because of the wide reach, these virtual marketplaces can provide great benefits to users with limited or even no investment and minimum time.
Using big data & digital media
Small businesses that use big data intelligently can boost efficiency and sales of their business. Netrepreneurs or entrepreneurs with a presence on the internet, inadvertently accumulate a lot of data - records of what buyers are searching for, where they are from, what they buy, when and how often, amongst other trends. This allows them to pick the right keywords, customise their marketing strategies and tailor-make a more personal experience for their buyers.
Brick to click to mobile
With the emergence of mobile, Indian SMEs should prepare themselves for an omni-channel approach, ensuring that their buyers have a uniform buying experience no matter which platform they choose or which part of the world they are based in. Thanks to the growing popularity of smartphones and tablets, more people now want to be able to shop using many different channels. With smart digital devices and improving connectivity, today's discerning consumers have more information, choice and flexibility at their fingertips. More shoppers are now evaluating purchase decisions - comparing prices and product specs - on the web and even while on the go, using their smartphones.
Once SMEs master the technique to promote their business on the web, the next step that they should focus is how to connect with traders across world markets. Below are quick guidelines to keep in mind: