Why SMEs fail these days?

"Why SMEs fail these days?"

The Million-Dollar question that brings out authentic solutions if dealt in optimistic ways.

The negative tone of this article while beginning itself doesn’t mean to demoralize your entrepreneurial spirit rather making this spirit livens up to the fullest.

As we know, “why & how” is one side of a coin that has the answer in the other side, so better we go with the same approach in getting into the competent solutions.

So, let's face the question, here we go:-

Why do SMEs fail these days?

Though there are several forces & reasons that influence your business’s move- but the first & foremost -as follow

1.Going away from customers

You wonder as to why the graph of your business is declining day by day?

Being established SMEs still you are not “digital ready "which means chances are there you could be missing out potential clients every year. So, Digital presence isn’t a choice anymore but a prerequisite.

“Lack of finding your right customers”

So, how do you find your customers? Where are your customers these days spending most of their time?

How do you target your customers & reach to them?

Are you present online media? Do you have a website? are you present on social media for your business? Do you have any video on YouTube?

In the internet age, if you don’t present online then Why should customers buy from you?

With the internet and social media penetration going up persistently, it has become indispensable for businesses to have a presence online especially on social media. Social media has become the best platform to reach the general public worldwide. In fact, it is healthy for any business to have a huge customer base and social media serves such opportunities to do that. Webeaz Technologies <a data-cke-saved-href=" />social media strategies will help you to identify your target customers for your business.

 

2.Lack of Brand awareness

You worried as the products you offer are of top quality still the graph of your business is declining day by day?

Your business is struggling for brand awareness.

You have a shop in a reputed city like Bangalore? But still you are not getting any recognition by following the traditional marketing way. Though you have spent a lot on big hoardings, those are overlooked by the by-passers.

Here the relevant question is, how many persons know about your shop within a radius of 10kms? Also, if you don’t have a website, and a social media pages then how they will know about your business?

If you don’t have a website- irrespective of the type of your business, this could be harming you more than you realize. Despite the advancements made in technology, and when the whole world is going digital, it’s not just some new SMEs that are failing to grasp the significance of the Digital Worlds, a large number of established SMEs are still going the traditional marketing way.

Webeaz Technologies would like to suggest, this is the right time you should transform your traditional marketing strategies into the new advanced form. The internet has opened a whole new world of marketing that didn’t exist before. Your website can attract new businesses/customers by using a whole host of low-cost marketing technique. We will do GEO targeted digital campaign to promote your business with your 10/20Km radius near by customers. Once they know about your offers and deal through online, they will visit your outlets for buying your products.

3. Ignoring Online Platform to sell your products 

Do you sell your products through Amazon or Flipkart to reach new and diverse customer bases?

Indian Economy is getting the most internet-reliant, more online shopping taking place with companies having their vibrant online presence & interacting with potential customers as well as by building online reputation. At this time if you don’t plan to sell your product online then your business graph will certainly go down as in this mechanical world customers are more into convenience and time-saving mode. More over online-shoppings also offer healthy and smart discount sale in saving money as compared to that of store shoppings.

4.Doing away with new technologies and innovation

In the market arena, whether you concentrate on your current operation, it is vital to think from the future-perspective. You must be upgraded with the new technologies and innovations to attract your potential customers.

It seems we’re on the edge of yet another technological evolution, for small business owners, there are quite a few tech innovations to be aware of in 2019 or new ways to connect with social media followers.

Do you have a Mobile Application for your business or for operational activities to reduce work load and smooth transactions? it's time to think and implement technologies and innovations for your business operations or sales support etc. Most of the large scale business use AI (artificial intelligence) to improve the business operations or sales, that’s why they are able to manage with good income for their businesses.

Wrapping Up

The bottomline is, if you do not have an official website, social media page or internet profile the chances of your business to fail in the long run are higher as your reach will be very limited which is not good for a business.

"Webeaz Technologies is transforming the traditional way into digital,"

You can email us  or call us on +91 98867 71819 for any of your Business Requirements and we will come up with an ROI based Digital Marketing Strategy that will scale and grow your Business!

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