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These 3 Trends Will Put Indian SMEs on The Growth Trajectory in 2017

SMEs are joining the digital bandwagon in capturing and exploring more to itself on web.
These 3 Trends Will Put Indian SMEs on The Growth Trajectory in 2017
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You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The current era is a revolutionary stage for small and medium enterprises that are mushrooming with a significant pace and speed at present. SMEs are joining the digital bandwagon in capturing and exploring more to itself on web. Whether it’s about digital hiring or interacting consumers on social media, SMEs are making themselves digitally-driven. 

We have had seen a transitioning change in various sectors of small and medium enterprises in year 2016, let us take a look at what is going to trend in the coming year, which is so close to us now.

  • More social buying with more Smartphone users

Everything or anything in social media that has eye-catching collection with fascinating offers dabbed on it will roll on internet, no matter what. With the increasing number of e-commerce websites, the small e-comm. players are beating giants like Amazon and Flipkart in gaining mass attraction and traffic.

In 2017, e-commerce sector is aiming to hit $100 billion business that should be accentuated by SMEs at the larger perspective to go digitally more active. 

  • AI and Chatbot

Since consumer engagement is one of the most important marketing tips which every SME should focus on, Artificial Intelligence and Chatbots will help SMEs grasping consumer nature and preferences. Getting a direct feedback from consumers is an asset for a business entrepreneur. Use of AI-based chatbots and applications can help SMEs raise higher sales revenue on web. The growing trend of having consumer and retailer on the same platform is serving small and medium businesses a way of interacting consumers and fetching higher revenues.

Global giants like Google and Facebook has come up with their own set AI-based interfaces to help SMEs grow consumer engagement.

  • Crowd-funding

The sales and revenue of business is not everything what SMEs always rely on. Raising investments for business sometimes becomes a task for Small and medium entrepreneurs. To ease the funding routes for business in order to fetch higher growth, the smart business entrepreneurs should use crowdfunding to raise capital. Crowdfunding also has other productive uses, as it’s also be used in validating newer products before making an investment on it.

There are many brands which are raising capital and investing them through these easy ways. Some of the reliable crowdfunding platforms on web are- Faircent, Ketto, Wishberry, FuelADream, Bitgiving etc.      

 
Edition: April 2017

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