"99.8% of EU businesses are classified as SMEs, generating £1.8bn in revenue in the UK. While 70% of marketers see this market as crucial, 90% struggle to engage effectively."
"Small businesses cannot be defined solely by size; their needs differ significantly. An artisan baker and a discount retailer require distinct marketing approaches."
"Brands often bombard small business owners with unwanted sales calls or engage in ineffective LinkedIn stalking, leading to frustration and a lack of genuine connection."
"To connect with small businesses, brands should understand their unique needs and follow five principles, including rethinking segmentation and adapting to their buying behaviors."
The small business market is largely untapped, with 99.8% of EU businesses classified as SMEs. Despite 70% of marketers recognizing its importance, 90% find it challenging to engage with small business buyers. Small businesses vary greatly, and marketers often fail to tailor their approaches, leading to frustration. Brands need to understand the unique needs of different small businesses and improve their engagement strategies. By following five principles, including rethinking segmentation and adapting to buying behaviors, brands can enhance their connection with small businesses.
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