There are over 33 million small-to-medium sized businesses in the US, and they account for 99.9% of all businesses in the country. That means there is a massive market opportunity to capture when selling products and services to SMBs. Compared to Enterprise sales, SMBs have fewer decision-makers and less complex purchasing processes, making it easier for salespeople to sell to them. But, SMBs also have unique challenges that may impact the sales process, such as being time-poor, having limited budgets and a tight network of contacts.
As a result, SMBs are more receptive to marketing and sales tactics that are tailored to their specific needs, such as offering a free trial period, focusing on ease of use and providing expert support. Additionally, SMBs are typically more likely to make a purchase if they can see how the product or service will benefit them over the long term.
In addition to ensuring that the sales pitch is tailored to their specific needs, SMB salespeople should be prepared to answer any questions the buyer may have about the cost, implementation, and long-term support of the product or service they are buying. They must build trust and rapport with the buyer to demonstrate that they understand their pain points and business challenges.
Because of the differences between Enterprise and SMB sales, it is important to develop separate sales processes and strategies for each type of customer. This will help ensure that the best-performing salespeople are leveraging the right sales methods to sell to the most profitable segments of their markets.