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Digital Skills for Small Businesses.pdf
- 1. JULY 2022 PRESENTATION BY MUGDHA SAPTARSHI Digital Skills for Small Businesses
- 2. Digital skills boost business productivity - saving huge amount of time and costs; sometimes saving the environment by going paperless! Quality hike - automation frees up workers to perform higher value functions rather than tedious repetitive tasks. Provide a competitive advantage WHY DIGITAL SKILLS?
- 3. Manage and Grow Customer Relationships Design and Develop your Sales Pipeline Develop Loyalty and Retention Gaining Competitive intelligence Develop resourceful content using all media types Building your social and digital assets that you can leverage later Real time customer engagement and listening Develop your own specialised expert network Find new collaborations by building your networks Secure your business from any cyber threats Having Certain Digital Skills Can Help You To...
- 4. “Business leaders also have to be digitally proficient to be able to identify the key digital skills that new employees should master, together with critical thinking, ingenuity and flexibility for the benefit of their business.” - Marco Mongiello, Pro Vice Chancellor at The University of Law Business School
- 5. Digital Skills For... Using formal platforms effectively for internal communication eg. Email, MS Teams, G-Suite, Skype etc. COMMUNICATION Building a personal brand, creating an image through blogs and content creation on platforms such as LinkedIn, Facebook, Instagram, Twitter etc BRANDING Managing transactions, knowing basics of investing and accounting and keeping records of all finances using various tools such as Wave Apps, You Need A Budget or even MS Excel FINANCES
- 6. Digital Skills For... Digital marketing disciplines eg. e-mail marketing, search engine optimization, pay- per-click, social media marketing, content marketing etc. MARKETING Knowing the basics of designing applications such as Photoshop, using Canva for creating graphics, Pixel Buddha for professional resources etc. DESIGNING Reaching out and connecting to people through professional networking platforms such as LinkedIn, AngelList, CoFoundersLab etc. NETWORKING
- 7. Digital Skills For... Making data-based decision by analysing big data, using tools such as Google Analytics, Adobe analytics, Mixpanel etc. ANALYSIS Using online learning platforms such as Coursera, Udemy, Scaler etc. to learn and evaluate useful digital skills such as Spreadsheet software, Product management etc. SELF EDUCATION BUILDING A DIGITAL SHOP Registering your product on e-commerce platforms (Flipkart, Amazon, Alibaba), building a website if you are a service-provider, setting up digital payment platforms such as GPay, UPI etc.
- 8. INDIA AFTER COVID-19: ADOPTION OF TECHNOLOGY ACROSS SMALL BUSINESSES IN INDIA, 2020 SOURCE: STATISTA.COM In India, MSMEs, Micro Small and Medium Enterprises are rapidly trying to adopt technology and digitize their businesses. They are being encouraged to market their products on the e-commerce site, especially through Government e- Marketplace (GeM), owned and run by the government. As of March 24, 2022, the GeM portal has served 9.63 million orders worth Rs. 219,071 crore (US$ 28.70 billion) from 4 million registered sellers and service providers for 59,259 buyer organisations. MSMEs are adopting digital payments over cash, with 72% payments done through the digital mode compared with 28% cash transactions.
- 9. SMEs in India India would have 105 million SME base in 2024 out of which 90 per cent of the enterprises would be ‘digitally influenced’ from existing 70 per cent. Having access to digital infrastructures such as PC or smartphone and Internet. The business may also be listed on an aggregator portal such as Justdial or have a website or listed on a social platform or communicating through WhatsApp, email etc. GROWING SME SECTOR DIGITAL INFLUENCE? GOVERNMENT AID Currently has around 18 technology centres called Tool Rooms to help MSMEs learn and adopt the technology.
- 10. ECOSYSTEM ENABLERS Digitisation was tough for small and medium businesses due to shortage of resources, lack of awareness and inability of owners to grasp the concept and its implications. BUT TODAY, BUILDING TECHNOLOGY CAPABILITIES IS NOT AS DIFFICULT, THANKS TO A BOOMING ECOSYSTEM OF ENABLERS. Instamojo, for instance, is helping small and medium businesses leverage the Internet to expand reach. It sets up online storefronts and organises product catalogues. It also facilitates digital payments, offers logistics services, arranges short-term capital and helps companies develop digital marketing tools.
- 11. SAAS (SOFTWARE-AS-A-SERVICE) FIRM NOWFLOATS SERVICES A NUMBER OF BUSINESSES IN RETAIL, HOSPITALITY, MANUFACTURING AND HEALTHCARE SECTORS. It creates differentiated marketable content for small and medium businesses and enables them to share it on social media channels like Instagram, Facebook and WhatsApp. It also solves the problem of discoverability by mapping businesses on Google Maps and WhatsApp. The Public app, a location-based social networking app where businesses can market products, uses hyper-localisation and geo-targeting to help businesses reach their target consumers. “Digital marketing enables brands to target the right set of customers at a much lower cost. Brands with low marketing budgets can opt for online advertisement depending on funds they would like to allocate. One can start advertising digitally with even ₹100,” says Tarun Arora, chief operating officer, Inshorts Group, which owns the Public app.
- 12. GLOBAL GIANTS ARE NOT FAR BEHIND. Amazon Web Services (AWS) launched Amazon Digital Suite last year to help small and medium businesses take functions such as accounting, customer support and human resources online. It covers a wide range from compliance to solutions such as AI, machine learning and internet of things. Separately, Amazon established a digital brick and mortar kendra in Surat last year. It wants to use these centres to bring tools, support and services closer to small and medium businesses. Amazon has also rolled out a programme called Spotlight Northeast to expand the benefits of e-commerce to small and medium businesses in the region.
- 13. CHALLENGES Internal resistance to change has been the biggest barrier to adoption of technology in traditional establishments. There is also skepticism about the potential of technology. After all, businesses have worked for years without digital. RESISTENCE & SKEPTICISM Much of the workforce in small firms is not digitally literate and there is a dearth of technical talent as well. Digital skills, though efficient once learnt, need time and the right resources for adaptation. LACK OF DIGITAL LITERACY Data protection and cybersecurity issues will also take centre stage once small and medium businesses adopt digitisation at a larger scale. Cyber attacks and complying with laws and policies will require companies to build mechanisms which entail considerable, if not hefty, costs. DATA PROTECTION AND CYBERSECURITY ISSUES
- 14. Success Stories Hitesh Kumar, 39, runs Shri Balaji Online Store, which makes sofa covers, chenille sofa fabrics and tissue curtains, from Panipat in Haryana. The former IT professional decided to digitise the business in 2019, and after looking at various options, took his store online with Walmart Vriddhi, a programme by the US-based retailer to digitally empower small and medium businesses. Now, he sells on Flipkart. Earlier, he was restricted to 8-10 cities. Now, he can sell in the entire country, with online accounting for 45-50% sales. “Online opens new markets,” says Kumar.
- 15. Success Stories Batra pivoted online by signing up for the Local Shops on Amazon programme after her business started struggling during the pandemic. Her order book soared 40 times. “Going online meant opening our store to the entire country. Now, we receive orders from all over India. We are competing with top brands,” she says. VANDANA BATRA, WHO RUNS FAIRY TALES CREATION, A GARMENT STORE IN NOIDA IN UTTAR PRADESH, FOUND HOPE ON THE WEB.
- 16. Success Stories Pansari Group makes spices, oils and other food items, has digitised all processes right from production monitoring to order dispatch. It has equipped phones of employees with technology that allows them to remotely supervise production. It has also made huge investments to replace traditional servers with cloud storage. For them, tech has enabled live mapping of production, which reduces errors and allows swift implementation of corrective measures. “Due to adoption of tech, our operational costs have gone down. If per unit cost of production falls, it leads to savings,” says Agarwal, M.D. SMALL AND MEDIUM BUSINESSES TYPICALLY SPEND ABOUT 1% REVENUES ON TECHNOLOGY SOLUTIONS. THE BULK OF THE INVESTMENT GOES INTO CLOUD, AUTOMATION AND MODERN INFRASTRUCTURE, SAY ANALYSTS.