Many SMBs have lost their business in this pandemic which were depending on traditional ways of doing business and the one which was not utilizing the power of digital marketing.
Compared to the small business and even startups which depends on digital infrastructure had faced little to no effect.
This pandemic had also shifted consumer behavior and even business behavior too. We are seeing an increase in online grocery shopping, online education, online medical consultation, online entertainment and this all is hugely shifting the behavior of the market.
Also talking about the IT sector and digital agencies, many of them had reported an overall better profit than the last year. As it is a very clear picture, the lockdown and shift of business to online marketing and digital stuff had influenced these sectors in a positive way.
By now at the end of 2020, many businesses had understood the importance of shifting to digital channels and had started to take online presence seriously.
The SMBs which were the spectator before the pandemic had now realized the power of online and digital marketing and started rolling their fund in this low cost and high return online marketing stuff.
Not only this many businesses had reported, that their customers were searching out for them online and expecting their product/service to the small parts of the country too. This brought many businesses to expand their business from local to global markets by utilizing digital infrastructure.
Now we are expected to see a major shift in the economy and market by the opening of 2021 and hope that it will gonna be a good year for Small and Midsize Businesses.
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