How to gain enterprise-level acquisition as a SMB?

Jan. 28, 2019, 1:37 p.m.

1 Answer

Feb. 25, 2019, 10:50 a.m.

Small and Medium-sized Businesses (SMB) are companies that, by the accepted definitions, have less than 100 employees (for small) or less than 1000 employees (for medium-sized). There are currently over 5 million SMBs in the US.

Generally, SMBs have much smaller resources and limited budgets. From the very beginning, they must work on better strategies and constant development to not fail in the first crisis. Often, people who run those businesses also have a lack of knowledge and experience on how to do it effectively. As a result, many of these businesses are finally failing and give space for new ones. A high rotation is a good chance for the competition. Selling a product (or service) by SMBs is not like selling of enterprise-level businesses. There are big differences, but you are also aware of them. How to gain enterprise-level acquisition as an SMB?

• Multi-channel approach
To reach new clients with bigger potential, you will need a multi-channel approach. It's worth following changes and adapting your offer and advertising to clients and media in real time, keeping in mind external changes of the market and environment.

• Focus on matching the client
Take advantage of the growth, stability, and potential savings that your offer can bring to your clients. Identify at what stage is your target now, and make sure that the offer is matched. Bigger fit - bigger customer satisfaction. In addition, by creating a tailor-made offer, you gain more time and energy to acquire new customers.

• Say goodbye to some old clients
Reducing the number of customers is crucial to the company's development. It is particularly important to SMBs because it not only increases higher due to the lower stability of the company, but smaller clients do not have as much sales potential as the larger ones. Focus on customer segments, acquisition channels, and your real profit.

• Focus on enterprise level businesses’ clients
There is a huge difference between enterprise and SMB clients. Small customers constantly control and reduce budget expenses, but paradoxically tend to be more willing to spend money. Unreasonable. Enterprise clients focus more on stability and processes. Create consistent offers and direct them to customers who are able to pay a lot for a high-quality offer.