Small businesses represent a huge opportunity for brands. But, despite good intentions, marketers are still failing to realise their true commercial potential and win the hearts and minds of small business customers.
- 99.8% of EU businesses are SMEs. (Source: Eurostat)
- £1.8tn revenue is generated by SMEs in the UK alone. (Source: Eurostat)
- 70% of marketers believe the SME market is extremely important to their business. (Source: CEB)
- 90% of brands struggle to identify and connect with actual small business decision-makers. (Source: CMO Council)
Where are marketers going wrong?
Sometimes, as marketers, we don’t look hard enough at stuff. We’re far too happy generalising, following stereotypes and not taking to time to look a bit deeper – especially when it comes to the audience we are talking to.
If you Google ‘small business owner’, it will invariably throw up: coffee and flower shop-owning, tech savvy millennials. And while for many small business owners this may be the case, we know they are much more diverse and interesting than this – each with their individual story to tell.
Think Small aims to really explore the world of small business and help B2B marketers get past the stereotypes that exist – giving them better insight to make their marketing and sales to this market more effective.