Marketers Turn Focus to Small Business Customers
Just 6 percent of marketers feel they are extremely effective at developing compelling messages and executing measurable campaigns for the SMB market.Two out of three big business brands are planning to increase their focus and investment in engaging small to medium-size business (SMB) customers over the next 12 to 36 months, according to a study from the Chief Marketing Officer (CMO) Council and Penton, a business information services company. While half of respondents said they have dedicated customer experience resources specifically for the SMB market, only 40 percent have a specialized department or team assigned to activating this critical market. In addition, just 6 percent of marketers feel they are extremely effective at developing compelling messages and executing measurable campaigns for the SMB market. "While brands are excelling at developing products, services and even offers that engage small business buyers, marketers are struggling to keep up with the data and intelligence needs of a dynamic, diverse and fragmented market," Donovan Neale-May, executive director of the CMO Council, said in a statement. "Organizations must look to new partnerships and intelligence sources to gain a deeper understanding of the vertical market segments of their SMB customers, including life-stage needs and behavioral shifts."
Just 5 percent of marketers surveyed said they believe that the SMB market has a very positive view of big business, even as one in four brands believes it has well established and trusted brand recognition. Nearly half believe they have a good rapport and growing relationship with their customers.