99% of SMBs Plan to Offer Contactless Services to Customers Permanently

In India, 99 percent of SMBs plan to offer contactless services permanently led by secure digital payments (78 percent), mobile order (68 percent), and digital customer service (62 percent), according to the fifth edition of the ‘Small and Medium Business Trends’ report launched by Salesforce. The report reveals that SMBs are seeking investments in technology to help their business survive even the most tumultuous times.

Conducted online by The Harris Poll on behalf of Salesforce, the report analysed the responses of more than 2,500 SMB owners and leaders worldwide to determine how support from local communities have affected SMBs, what SMBs are doing to deepen trust with customers and employees, the role technology plays in their growth, what has changed for SMBs in the last one year, and finally, how has it impacted their future.

As SMBs are struggling to maintain revenue streams due to the frequent lockdowns – the government and the local communities are chipping in to help. Majority (62 percent) of SMBs in India have strongly emphasised that financial support from their community has been utmost vital in the survival of their business in the last one year.

Arun Kumar Parameswaran, SVP and MD, Sales & Distribution, Salesforce India said, “The grit and innovation of SMBs during a time of great change has been a triumph. This has also been a testament to the perseverance and creativity of SMBs and the communities in which they operate. It is truly inspiring to see how Indian SMBS are leveraging technology to transform their operations and push forward after a year of change.”

After a period of turmoil, SMBs are focusing on meeting customer expectations and deepening trust by providing employees with transparent communications and flexibility. Since the pandemic began, 59 percent of SMBs in India have expanded ways customers can reach them and 48 percent have prioritised deepening relationships over one-time transactions.

Many SMB leaders were forced to relook at their strategies in order to keep their businesses afloat; which in turn made their operations more efficient. 100 percent of SMBs in India with some of their operations online moved more online in the last year and 82 percent of them feel the operational shifts made over the last year will benefit their business long-term. 61 percent of growing SMBs in India have accelerated investments in marketing over the past year.