Indian SME segment is as an agent of economic growth. They garner revenue and hold the economy stable in recession as well. Indian SME industry is unstructured and they lack technology information and online business strategies, though IndiaMART has been working from a decade to fulfil the online needs of SMEs. This time again IndiaMART has come with Leaders of Tomorrow Awards – 2010 in association with ETNow and Neilsen to encourage and recognize the significance of Indian SMEs. We have already informed our readers that soon IndiaMART will come with large scale campaign for SMEs for a period of around 6 months. Under this award campaigning, success story of selected SMEs be featured in ETNow which will be a great opportunity of SMEs to catch more eyeballs.
These days, IndiaMART is sponsoring, participating and organizing many events related to SME industry as they did in past like hosting conferences, Free events for SMEs and many more. IndiaMART’s marketing strategy is well defined, having a blend of traditional (Newspaper, Online, TV Commercial ads, Radio etc) and innovative ways (trade fair participation, event organizing, sponsorship etc) of brand building, advertising & promotion. Before getting funded from intel, IndiaMART was never openly exposed to marketing and now they are rightly utilizing the funds on brand building and marketing activities.
IndiaMART global competitor – Alibaba has also recently organized an offline sourcing event in Delhi to connect Indian suppliers with European buyers. However, Alibaba has entered the Indian market around 2 years back but still they are struggling to fix his shoes in the market and IndiaMART in all manners giving him tough competition.