"A new force is at play - one that sits in the blind spot of most marketers despite its sheer scale: small businesses. Small businesses make up 99% of all US companies and account for more than 51% of GDP. Collectively, they generate around $6tn in revenue and employ almost half the US workforce. In other words, if small businesses were a nation, it would be the world's third-largest economy."
""This year we saw two or three Super Bowl ads aimed squarely at SMBs," Raggio noted, a shift that would have been unthinkable just a few years ago. The same trend is visible on the Bart line in San Francisco, where station takeovers by SaaS and fintech companies targeting small businesses have become a near-monthly occurrence. As Raggio put it: "They very much hide in the shadows. There are not a lot of scalable first-party data sources that actually get to the business owner or decision maker.""
Commerce media is shifting from consumer-focused to B2B, centering on small businesses. Small businesses represent 99% of US firms, over 51% of GDP, generate roughly $6tn and employ nearly half the workforce. Visible new marketing tactics include Super Bowl ads and transit station takeovers by SaaS and fintech firms targeting SMBs. Mainstream marketers have historically overlooked SMBs because scalable first-party data reaching owners and decision makers is scarce. Intuit SMB MediaLabs converts QuickBooks' first-party data fidelity into media products to help brands target and engage small-business decision makers.
Read at The Drum
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