In the current economic situation of the country nobody has been left unaffected from demonetisation. Sharing mixed opinion of pros and cons of the currency ban people are standing in long queues to either get the money deposit or make a withdraw from the bank. Consumption in India is majorly cash-driven, and for digital payments concept it would require changes in consumer behaviour.
With the increase in digital payment mode, in the coming years our economy is expected to grow with a transparency in monetary transactions. Government is considering the impact of this cash crunch for a shorter duration but, there has been a big set back for all the businesses in every sector. Like all Indians, Orange Global has also welcomed the decision of digitalisation of all monetary transaction. This blog will take you through the ways the set back on businesses can be dealt with a possible solution of digital marketing:-
1. Online Platform:- Purchasing, Selling or reviewing any product online offers more confidence to a consumer in comparison to other mode. The e commerce industry has seen an upsurge since the last decade making every single seller to be present on the platform.
2. No Big Capital Investment:- In this hour of cash crunch when people stood in long queues first and now are struggling to earn money; Digital Marketing comes as saviour. With basic investment of making products online and using a payment gateway one can still keep running the business.
3. Take Advantage of the situation:- With all the money in bank and no cash in hand, people are still making transactions online. This method does not involve any give and take of hard money. Perhaps, the giants of e commerce has a back seat in this case of cash on delivery but the situation has still been advantageous for them.
4. Requirement of the time:- “Hit the iron when it is hot”. Where the focus is currently on making transactions transparent, it becomes important to use digital options.
Substantially online shoppers have impacted the over all retail businesses and had given a wide scope of getting digital. The irresistible presentation of a product and the ease of payment attracts more online buyers resulting in increase of purchase through digital payment options. Have a look at them:-
1. Net Banking:- an online payment technique which changed the way country used to shop, pay bills and many more. With a simple login to net banking one can easily transfer money to any account in a day’s time. Why to carry cash now!
2. Swipe Machines:- I remember, when debit cards were introduced it was a haphazard situation with lots of question pouring in minds. What if the card is lost, what if somebody else founds it? But all those worry’s are bygone now. Nothing can beat the ease of immediate money transfer on a purchase.Truly a plastic money.
3. E-Wallet:- It works as an online safe; like a bank locker! Create an account, enter the bank account details once and pay to whomsoever you want to. But be careful while handling E-Wallet, since it is internet based with your bank account details if hacked! Say bye to your money.
It is call of the hour. Choose the best option for your business and get it back with Digital Marketing options to grow.
