Selling to small businesses requires a different strategy than selling to larger enterprise brands. SMBs tend to be more demanding in terms of the product/service they purchase, so having a deep understanding of their needs is essential.
Using digital data to identify ICPs and surface prospects is an efficient way to close SMB deals. Tarci processes terabytes of SMB raw data on a weekly basis and analyzes it to uncover event- or change-based sales triggers.
1. Identify Your Ideal Customer
In order to successfully sell to SMBs, it’s essential to know your audience. You can start by conducting market research through customer surveys, comment cards, online forums, or by holding focus groups. These will give you a good understanding of the challenges and pain points that your product addresses, as well as what their needs are.
You can also use digital sales intelligence tools to go deeper than simple high-level firmographic data and identify prospects that align with your ideal customer profile (ICP). These tools allow you to create a buyer persona for each segment of your business market so that you can target them with highly relevant messaging.
Once you have a clear idea of your ideal customer, you need to understand their buying behavior. For example, SMBs may have a lower tolerance for risk than larger enterprises and are more likely to be concerned about the cost of your service or product. This is why it’s important to offer incentives that can help alleviate their concerns, such as a money-back guarantee or the ability to pay in installments rather than a lump sum upfront.
Finally, be sure to take the time to build a rapport with your prospects. This shows that you care about their business and are committed to meeting their needs, which can help foster loyalty and trust.
2. Understand Their Needs
One of the key differences between SMBs and large enterprises is that SMBs tend to have more specific needs. It’s important to understand those needs and tailor your marketing strategy accordingly.
For example, SMBs may be interested in purchasing a specific product that isn’t part of your standard offering. In this case, you could offer them a discount or other incentive to encourage them to convert. Another way to understand your SMB customers is through digital data analysis. This enables you to create hyper-personalized conversations that address your SMB buyers’ specific needs and pain points.
Lastly, SMBs often have shorter sales cycles. This is because they typically don’t have the same level of bureaucracy as larger companies. It’s important to prepare for this and be ready to close a deal quickly.
Additionally, SMBs tend to have more personal relationships with management. This can make it easier to communicate with top-level decision-makers, which can save you time and energy in the long run. In addition, SMBs are more likely to stick with their suppliers if they’re happy with the service they receive. This can help you build ongoing relationships that can boost revenue for years to come. This is why it’s important to focus on lead qualification and nurturing when selling to SMBs.
3. Build a Rapport
SMB clients have unique needs and a variety of challenges. They often require customized solutions that align with their requirements and budget constraints. To be a true partner to them, you must take the time to understand their pain points and introduce your products or services as ideal solutions for those problems. You also must be flexible in your offering and pricing models, and be willing to work with them to develop a solution that fits their specific business.
As a result, SMB decision-makers tend to be risk-cautious. They know that they can’t afford to make a bad purchase and must ensure that any investment they make will be worthwhile. That’s why it’s important to build a rapport with them early on and establish trust throughout the sales process.
This can be achieved by taking a personalized approach to selling to SMBs. By attending local business events, joining online forums, and interacting with customers on social media, you can connect with SMB prospects and build a rapport that will help you close the deal.
Additionally, SMBs typically have a shorter sales cycle than enterprise-level customers. As a result, it’s important to be efficient and provide value at every step of the sales process. This will not only shorten the sales cycle, but it will also help you avoid wasting time with unqualified leads.
4. Make the Sale
Selling to SMBs is a great way for startups to gain early traction, build relationships with potential customers, and establish product-market fit. They also have shorter sales cycles and simpler sales processes, so they can get more at-bats. This can help them hone their messaging, test GTM hypotheses, and accelerate the path to sales.
However, it’s important to remember that SMBs have different needs than enterprise buyers. For example, they are usually more price-conscious and may not be as willing to adopt a new product. This can be mitigated by offering discounts, providing free trials, or highlighting case studies of your existing SMB clients.
Another thing to keep in mind is that SMBs often have less cash flow, so they can be more reluctant to spend money on a new service. You can alleviate this concern by using email marketing to send automated emails that encourage leads to purchase your products or services. This can be done by using CTAs that grab the attention of your audience and urging them to act now before it’s too late.
With 29 million SMB companies in the US, there’s no shortage of opportunities for entrepreneurs. By implementing a robust smb marketing strategy, you can ensure that your prospects are engaged throughout the sales process and that they’re happy with their purchases.