To survive during the COVID-19 pandemic, Indian SMBs were forced to take tough decisions, including cutting down perks. But it is encouraging to see that SMBs are coming back stronger, according to Salesforce’s latest Small and Medium Business Trends report.
Here are four major trends in the Indian SMB sector, as outlined by the report.
1. Customer engagement takes centre stage
Customers base a company’s trustworthiness on how it acts during times of crisis1 and demand prompt communication.
In response, Indian SMBs:
expanded ways to reach them – 59%
were more careful about their communications – 67%
prioritised building relationships over one-time transactions – 48%
2. Being digital-first helps SMBs become customer-first
Indian SMBs have gone digital to ensure customer safety & convenience, and to deepen relationships.
82% believe the operational shifts they have made will benefit their business in the long run.
3. SMBs believe the future is contactless
Digital adoption helped Indian SMBs stay in the game, making contactless services mainstream.
This is especially true for SMBs in the consumer goods, retail, and technology industries.
4. Indian SMBs are investing in technology
To build resilience, SMBs have accelerated tech investments in —
Marketing - 61%
Sales - 59%
Customer service - 57%
Indian SMBs are yet again proving their grit by better preparing for the future. Get more insights into SMB trends in Salesforce’s 5th Edition of the Small and Medium Business Trends report.
