- Online platforms and e-commerce have enabled small businesses to widen their markets by utilising the internet marketplace.
- Concerning visibility, the digital superhighway has leveled the playing field for small firms.
The digital revolution has evolved as a potent tool in linking people across the globe and transforming the way businesses operate.
This revolution has resulted in substantial positive changes, particularly for small firms.
In the last decade, the world has witnessed small start-ups springing up and shooting to the global scene, with a substantial market share within a very short time, and at the same time, big firms plummeting due to the inability to respond to the new phenomenon.
For example, the digital revolution has had a critical economic impact on small businesses in Kenya.
This has presented opportunities and challenges, ranging from increased access to markets and customers to enhanced operational efficiency and cost savings.
Traditionally, small businesses used to operate within their locality, but online platforms and e-commerce have enabled them to widen their markets by utilising the internet marketplace, which allows them to contact customers outside their immediate neighborhood.
They now have an unprecedented opportunity to display their products and services to a bigger audience, thanks to online platforms and e-commerce websites.
They can also engage with clients from across the country and abroad rather than being constrained by physical location.
This increased market reach enables them to overcome regional boundaries, acquire new clients and enter previously untouched territories.
Concerning visibility, the digital superhighway has leveled the playing field for small firms that can now improve their online presence and get awareness alongside larger competitors with the correct digital marketing methods.
They can use social media marketing and Search Engine Optimisation (SEO) to establish professional websites and harness various social media platforms to showcase their products and services, share success stories and communicate with potential customers.
Small businesses can raise their exposure and develop a strong brand presence by using SEO and digital marketing tools such as websites to present their products and services to a bigger audience and lead to increased brand awareness and customer acquisition.
Customer involvement has become critical for organisations in the digital age, and small firms are no different.
Through numerous channels like social media platforms, instant messaging apps and emails, the digital superhighway has enabled improved consumer connection.
Small businesses can interact with customers in real time, respond to their questions and provide tailored services, resulting in strong customer relationships and loyalty.
Traditional marketing strategies are expensive and out of reach for small firms. However, the current digital space provides low-cost marketing options.
Digital marketing methods, such as social media and email marketing, are less expensive than traditional advertising channels and enable small businesses to target specific groups with much precision.
This cost-effectiveness allows small enterprises to manage their limited resources better and achieve higher returns on their marketing investments.
The digital space, therefore, affords the opportunity even for the smallest business, started in the back of a remote village, to rise to a global giant.
Consider that one of the current global giants, Apple, was created in a garage!
Karen Kandie