Key Insights
-
Many businesses choose to ignore small- and medium-sized businesses (SMBs), setting their sights on closing larger clients
-
Businesses will benefit better by targeting the SMB market which has a shorter sales cycle and less red tape
-
Striking connections with your SMB customers will be easier if you make way for personalization and a clear communication process
-
If you are selling to small- and medium-sized businesses (SMBs), you must make it an intentional part of your strategy, tailoring not just the prices but your entire approach.
-
SMB is a segment in its own right. Your SMB sales can only be successful if you remove barriers, understand the whys and hows of the SMB market, and adopt the right mindset to ensure success with SMB customers.
With almost 31 million small businesses in the U.S. alone, the SMB market represents a tremendous business opportunity for enterprises of all sizes.
Before we jump into effective strategies for successful SMB sales, let’s look at what the landscape is all about.
What Does SMB Sales Mean?
As mentioned earlier, SMB stands for small- and medium-sized business.
SMB sales refers to salespeople selling products or services to this market. SMBs usually have fewer than 500 employees.
SMBs also have shorter sales cycles and cost less for salespeople to close a deal.
Since SMBs often have very different needs and customer pain points, it requires SMB salespeople to use a unique SMB sales strategy to land clients, compared to the strategies involved in any big enterprise.
7 Easy-to-Implement Tips for Selling to Your SMB Customers
Many businesses choose to ignore SMBs, setting their sights on closing larger clients.
But, in comparison, SMBs have less red tape, resulting in shorter sales cycles. It is also easier to get in touch with key decision makers, entailing more success for your SMB sales strategy.
It is vital to keep in mind that SMBs don’t always remain an SMB.
An SMB today might grow into a multi-million dollar company in a few years. And this big enterprise will keep on using your product or service for years to come.
Let’s walk through some of the best sales techniques for SMB customers.
1. Connect Early
As you get down to fine tuning your SMB sales strategy, make sure to add early engagement as the first part of the process.
Interact with potential customers before you start pitching.
By making yourself available at the very start of the decision-making process and maintaining consistent contact, you will provide greater value throughout the process.
Additionally, you will be top-of-mind when the time comes for your SMB customers to make a purchase.
2. Qualify Properly
Qualifying leads help you to determine whether a lead fits into your ideal customer profile and will convert into a paying customer.
Lead qualification is critical to any segment that you are targeting, but more so for the SMB market. Keep the following points in mind when evaluating an SMB business:
-
Has the business been registered last week?
-
Has the SMB determined its business model yet?
-
How much funding does the SMB have?
Such questions will help you evaluate if you are zeroing down on a SMB that fits your business. Otherwise, you will deplete your own resource pool in chasing the wrong client.
3. Niche Down
Regardless of what you are selling, it won’t be a good fit for everyone.
One you have zeroed down on your ideal customer type, you can make the process even more seamless by focusing on a smaller cohort.
For instance, let’s take restaurants as your target SMB customer. Rather than simply targeting restaurants of a certain size, target those that cater to a specific demographic.
The idea is to get as specific as possible. This is how you will get to know everything about your ideal SMB profile, enabling you to sell better and smarter.
4. Keep it Simple
When you are fighting to make a mark in the SMB market, it is easy to get caught up in the details. But an in-depth sales pitch isn’t what your SMB client wants to hear.
Don’t complicate your pitch.
In fact, a simple straightforward pitch, with touches of personalization will be more effective for making a sale.
Present your information in an easy-to-digest, bite-sized format. Cover the facets of your product or service that your SMB leads will care about.
5. Offer an End-to-End Solution
SMBs require products and services that will be up and running in no time, with little or no effort on their part.
That is why you must make it clear that your solution will meet their needs without an extra investment of time or money to install and build the features.
Regardless of your target SMB, ensure that implementation is fast and easy.
When you emphasize your understanding of their need for a turnkey solution, you show that you value their time.
6. Alleviate their Worries
SMB customers tend to be risk-averse, for many of them are bootstrapped.
For SMBs, every dollar counts.
You can set your customers’ minds at ease with some easy steps listed below:
-
Offer a free trial of your solution
-
Provide a money-back guarantee
-
Make way for monthly payments rather than a yearly subscription
-
Feature testimonials and case studies on your website so they have proof of your product’s features
7. Cultivate Loyalty
Long-term customer loyalty comes with a slew of benefits for your business.
In fact, repeat business can generate valuable referrals for you.
So, it is important for you to maintain and strengthen existing SMB partnerships.
This starts with treating your SMB customers as valued individuals. Personalize their experience with your sales team. Be patient and offer assistance at every stage of the sales process.
Whether it be pre-sale or post-sale, every engagement must be guided with the objective of providing stellar customer service and support.
Summing It Up
To capture a meaningful and sustaining partnership, it is critical to lead with the objective of providing value for your SMB customers and not just to create value for your business.
A successful SMB sales pitch will find a way to help clients achieve their dreams in a manner that is honest, transparent, and respectful.
