What you need to know to build an effective marketing plan
Successful B2B marketers know that a one- fits all approach is ineffective at delivering results. Accordingly understanding the person, business or group you want to reach is of paramount importance.
The small business owner is a unique creature that needs to be thoroughly understood to ensure you get the biggest bang from your buck however the trap many marketers fall into is treating small business in the same way they treat medium and large organisations.
Effectively targeting small business requires a very different approach that is more heavily based on consumer marketing principles than a traditional business marketing approach. Consumer marketing is driven by behaviour, demographics and attitudes, attributes which are critical to small business marketing as they often influence how these "consumers" run their business.
However understanding the principles of consumer marketing is only the first step to truly effective targeting of small businesses. The next step is to recognise that all small businesses cannot be treated as one group - the micro-segments of the population need to be carefully examined as significant differences may be evident. Having a blended view (consumer and business perspectives) of a small business owner will allow you to understand who you are trying to reach, what their interests are and what motivates them to buy.
Recognising the communication preferences of small business owners is also important as catering to these needs can increase the receptiveness of your targets to your message. The small business owner tends to be slightly less receptive to direct marketing than the general consumer however they are more receptive to receiving marketing communications in the evening and on weekends. As well, they prefer more personal mediums for message delivery rather than mass media such as newspaper the Web, radio and television.
Understanding the financing arrangements of the small business can also impact your marketing campaign however the impact is heavily dependent on the product or service that you provide. In most instances the line between personal and business finance is often very blurred - this information, if you are a financial institution, is critically important. Understanding income and business credit information will determine whether or not this person is a good or bad credit risk and accordingly whether they should be marketed to.
Also consider that while on the surface, many businesses may look alike, there can be significant differences between sole and multi-business owners. For instance, household incomes and appetite for new items such as cars can differ significantly between these two groups.
For B2B marketers having an in depth understanding of the small business owner is essential. This knowledge enables you to match your marketing methods with the preferences of the small business owner, thereby increasing the likelihood of a positive response. What better edge could you have over your competitors?
