Majority of Indians have bare access to the basic needs of human beings. Yet practically everyone is updated on mobile gadgets and the benefits of technology it brings in. This clash of the rickety infrastructure challenges and the 21st-century opportunities creates interesting dynamics for the consumers and the companies that serve them. Digital technologies have the potential to address most of the challenges that are being faced.
Under Swatch Bharat Mission 100 million public toilets were constructed and it is estimated that 600 million people are the beneficiaries. people can use the mobile to locate the nearest toilet.
Most successful marketing companies in India use digital technology to connect with millions of rural customers, expand their market and improve health and welfare support.
SMEs and new entrepreneurs can reach new customers.
E-Commerce platforms like Indiamart help connect local businesses and consumers to the whole world. Digital technologies facilitate interactions at both micro and macro levels, providing an opportunity to tap large groups as well as niche audiences.
Modernise markets
Digital technologies allow companies to blend online and offline interactions in ways that allow them to reach customers who live in rural areas or less affluent. The retail industry will move into direct selling with the help of digital technologies with the shopping malls forming a very small part of the sales mainly restricted to big cities.
There has been a rapid acceptance of digital wallets and payments and even micropayments are being done through digital wallets. This has facilitated the transaction for goods and services digitally. Digital platforms are enhancing the welfare of rural and less-affluent consumers, allowing for a frictionless, real-time fund transfer to families living in remote areas. As customers become comfortable with digital payment gateways, they are using it for utility payments and day to day needs.
Mould technology to the market and not the other way.
The key is to mould the technology to the market requirements rather than wait for the market to adapt to technology.
TO cite a specific example, maintaining supply chain efficiently is a big challenge. Companies need to modernise logistics that adapts to the ground realities. Rivigo, a trucking company has revolutionised how the logistics are managed in India. It used both the digital and physical systems to improve the delivery and quality of life for the drivers. It started a relay service where the drivers drive for 4 hours to the nearest hub and drive back with a return load. this enabled them to spend more time with family and improve the quality of their family life. It also enabled the truck to be on the move 24 hours a day, improving utilisation of the vehicle and delivering goods faster. Using IoT devices it monitors the health of the vehicle to provide warnings of maintenance requirements as well as giving real-time data on its location and utilisation which benefited the owner, the driver as well as the hirer.
Empower your consumers
Infrastructure bottlenecks have limited access to information in emerging markets. language and literacy can be a major challenge on digital platforms. Companies need to adapt to these realities. The ones who can find ways to empower their customers will stand to benefit. Ensure greater transparency to help facilitate quick adoption. With intelligent solutions, companies can facilitate big wins for consumers using digital technologies and make a good living doing it.
How Indian Companies Are Using Technology to Reach New Consumers
by Vijay Mahajan HBR 2020/10
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