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When it comes to serving small and mid-sized businesses, financial service providers often struggle with creating meaningful relationships and developing a deep understanding of SMBs’ needs by industry and life cycle status.
It’s time to stop the struggle. Let data drive your winning strategies in the SMB market.
There are millions of small and mid-sized businesses in the US and the UK and, for financial service providers and other core services, the revenue potential is enormous. Unless you’re careful, though, the cost of acquisition can also be enormous – and not offset by the value the SMB ultimately delivers. To grow your share profitably, you need to be strategic, and you need to be focused.
The SMB market is ripe with sales opportunities – but you have to be strategic about picking them. With a focus on precision, speed, and relevancy, you can increase sales and grow your SMB market share in a way that’s both profitable and sustainable.
SMBs’ time is scarce and so is their budget – and yet, while they present a relatively low LTV compared to an enterprise, if you offer them what they need when they need it, they are most likely to convert to a customer quickly. But how do you know when to reach out and what they need?
If you’re an SMB payment provider, you already know how competitive the market can be. You may also find it hard to get enough information to accurately gauge a prospect’s LTV potential. But what if you had a way to find growing businesses that not only match your ICP, but that also convert quickly – without getting into a bidding war?
Industry leader Marcus Nagel gives us his thoughts on how Tarci can grow as a valued partner to businesses in the insurance industry – and why he thinks dynamic data is a total game-changer.
Dynamic data is an exciting new way to grow share and increase customer lifetime value in the SMB market. Dynamic data lets you know when businesses are growing or struggling, hiring, dealing with new industry developments, or facing other challenges.
In times of financial uncertainty reducing churn and identifying opportunities for upsell and growth is crucial. But, how do you know what businesses are expanding and have changing needs for more services and products before they start shopping around, comparing prices and offers?