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Honeywell recently launched three products for mid-market segments - an AC controller, smoke detector and AI-enabled camera. Jasmeet Bhatia, GM, Impact by Honeywell interacted with DQ Channels to tell us about the prospects of these products in the MSME sector.
How will you strategise to reach the SMEs in smaller towns for extending your products to them?
Jasmeet Bhatia - From a strategic perspective, we must ensure outreach on two fronts – offline as well as online. For the digitally evolved customer, the primary routes of operation are e-commerce and digital, the former being all the more critical as there exist players operating in a niche space like B2B. However, in order to cater to the section of SMEs not relying on E-commerce and digital, we are further building an ecosystem of "reach multipliers" in the offline space, comprising specialised partners along with system integrators who work directly with the end customer and also act as an advisor for them.
Essentially, these reach multipliers have an “influencer” effect on the end customer as far as the purchase decision is concerned. Moreover, we are setting up a strong digital demand-generation engine which will have a considerable impact on the offline business as well.
Do you think SMEs will be willing to invest in your products in the current stressful situation?
Jasmeet Bhatia - Yes, we are confident of traction from SMEs because the fundamental pillar of any product or offering that we’ve built to date is that we deliver a three-fold value for the end user – unmatched levels of operational efficiency, cost-control across the value chain, and ensuring affordable adherence to compliance requirements.
In the current scenario, this value proposition makes a difference for any business of any size. Particularly in case of an SME, this supports business continuity and paves the way for sustainable growth.
Have you done any market survey about the willingness of the SMEs to adopt your products?
Jasmeet Bhatia - To understand the landscape and gauge the market, we conducted an end-to-end research, taking inputs from SMEs – potential end users and thought leaders within the ecosystem. Our findings suggest that SMEs are not merely looking at another “good to have gadgets”; their requirements are tied to a few value propositions, namely seamless integration with their existing setup, affordability, ease of use, and value for money. Since we strive to consciously ensure that all our products embody these essential ingredients, we are confident about their uptake by SMEs.