He viewed that digital media is the only medium via which the SMEs can reach out to mass audiences. It is not only the low cost way of promoting one's brand image but it also helps small and mid-sized businesses to reach out to the right target audiences as well.
The digital media is fast replacing the traditional media as an effective medium for promoting, advertising and marketing the products & services.
Srinivas stressed that the Internet has been a huge reservoir of information for SMEs. Many SMEs browse the net for relevant information on any specific product or any piece of information they need at a particular time. Today, the Internet has also become a useful tool for spreading awareness and knowledge to emerging entrepreneurs.
Srinivas further added, "The Internet also helps to make possible changes at ease any moment and also facilitates the opportunity to test new things or new ideas without wasting much time."
"In fact, the mobile technology has changed the face of advertising. Experts also feel that with the advent of latest mobile technology, the basic marketing strategies has also changed. Today the digital space generates higher return on investment (ROI) than the conventional media. Another important point - online advertising is driven by consumers. Advertisements are not pushed to the consumers; rather, consumers prefer online ads."
Expressing his views on the subject, another speaker, Sumeet Singh, National Head, Marketing, Communications and Alliances, Info Edge India, pointed out, "There are 40 million to 70 million people on the Internet in India today and this number is growing at 15 percent each year."
According to Singh, the industry is worth Rs. 800 crore at present and is set to grow at a rate of 20 to 25 percent over the next few years, which will provide more marketing opportunities to the Indian corporate.
Srinivas mentioned that out of 13 million SMEs in India at present, 2.2 million SMEs use the Internet while 20 percent of them have active Internet connections.
Dwelling on the benefits of digital media, and in particular, social media, Srinivas further added: "It allows us to build relationships with customers, listen to them, take feedback and then act on that feedback to enhance customer experience at virtually no cost, except perhaps your time."
