Google Inc (GOOGL)’s Google My Business Aims To Get 20 Million SMBs On Board By 2017

Google Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) has its eye set on tapping into India’s rapidly expanding Internet population. The company has come up with a service called Google My Business (GMB), which targets small and midsize businesses (SMBs) in India. The company hopes to capture 20 million of India’s SMBs by the next two years through GMB.

A five-month pilot program for GMB in India turned out to be overwhelmingly successful and Google Inc (NASDAQ:GOOGL) hopes to do more in the market. The company signed over 1 million SMBs in the trial phase of the program and says that, on average, 25,000 businesses sign up to GMB weekly. At that rate, Google sees itself meeting the target of 20 million SMBs on GMB by 2017.

Language options

With GMB, businesses can have an online footprint quickly and easily. The app enables businesses to create and manage their online information without investing in a website or domain. GMB is available for Indian SMBs freely in both English and Hindi languages.

500 million Internet users

According to Google’s head of South East Asia and India, Rajan Anandan, there will be more than 500 million Internet users in India in the next three years. Therefore, GMB is one service that will enable the large Internet population to easily search for information on local businesses and for the businesses to connect with customers.

Broken connection

There is a great opportunity for Google Inc (NASDAQ:GOOGL)’s GMB to bridge the current information gap on local businesses to facilitate easy connection between vendors and buyers. Currently, of the 51 million Indian SMBs, just about 5% to 6% have an online presence and Google is betting that GMB will change that sooner or later.

Earlier, Google Inc (NASDAQ:GOOGL) tried to bring India’s small businesses online through what it called the “India Get Your Business Online” initiative, managing to bring a half a million businesses online.

Programs like GMB clearly explain Google Inc (NASDAQ:GOOGL)’s push for wider access to cheap and reliable Internet connections in the developing markets.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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