
IMPACT OF DIGITAL MARKETING ON SMALL AND MEDIUM ENTERPRISES (SMES) IN BANGLADESH
Author:
Md Nafis Fuad, Avishek Nath, Md. Al- Noman Siddique, Sharmin Ara Chowdhury
This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited
This study investigates the influence of digital marketing on small and medium enterprises (SMEs) in Bangladesh. It examines how these businesses utilize digital tools to improve their operations, interact with customers, and stimulate growth. Data was gathered from small and medium-sized enterprise (SME) owners and marketers using a qualitative study method. This methodology allowed for a deeper understanding of the adoption, advantages, difficulties, and overall consequences of digital marketing in the specific context of Bangladesh. The results indicate that small and medium-sized enterprises (SMEs) have widely embraced digital marketing tools, with social media platforms being the most commonly used method for engaging with customers and promoting their brand. Although SMEs encounter obstacles such as limited knowledge of digital technology, budgetary limitations, and technological hurdles, they acknowledge the significance of digital marketing in maintaining competitiveness and extending their market presence. The primary advantages of digital marketing for small and medium-sized enterprises (SMEs) in Bangladesh are expanded market coverage, enhanced customer interaction, cost efficiency, heightened brand exposure, and the ability to assess performance in real-time. Nevertheless, the need of providing customized assistance and resources to small and medium-sized enterprises (SMEs) in order to fully exploit the possibilities of digital marketing is emphasized by obstacles such as the requirement for ongoing learning and adjustment, financial limitations, and worries around cybersecurity. The report also emphasizes the crucial function of digital marketing in promoting business expansion and cultivating innovation among small and medium-sized enterprises (SMEs). Digital marketing offers SMEs unparalleled potential to succeed in a digital market by expanding into new areas, gaining vital consumer insights, increasing sales conversion rates, and improving brand awareness. Ultimately, governments, industry stakeholders, and support organizations have a crucial responsibility in creating a favorable atmosphere for small and medium-sized enterprises (SMEs) to successfully embrace and utilize digital marketing. Efforts focused on boosting digital literacy, increasing access to technology and resources, and promoting a culture of innovation and adaptability can allow small and medium-sized enterprises (SMEs) to effectively traverse the hurdles and take advantage of the opportunities offered by digital marketing.
Pages | 59-68 |
Year | 2024 |
Issue | 2 |
Volume | 2 |