How much does an artisan baker have in common with the independent 99p store next door? A lot, according to firmographics – same industry, same location, same size shop.
Clearly, the reality is very different.
And it’s this ineffective segmentation – putting SMEs with very different characteristics and drivers in the same bucket – that helps explain why 90% of brands struggle to connect with the huge SME market (99.8% of EU businesses are SMEs, according to Eurostat).
In this month’s Think Small we explore the pitfalls of treating all SMEs the same, and how B2B marketers can target them more effectively when they understand their differences.
In Segmentation beyond firmographics we look at the SUE model, which incorporates psychographics and looks at how emotional drivers and rationality levels influence buyers’ decisions.
In this video on firmographics we look at how ineffective segmentation could be shooting your SME marketing in the foot.
In The anatomy of a small business, we look at the characteristics that differentiate SMEs.
And in Pitching to the personality of an SME, we spoke with three experts to find out how best to segment this diverse audience.
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