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.
Sales & Marketing
Imagine this: you’re a butcher shop and in an effort to increase sales, you send fliers to every home in the neighborhood. Seems like a smart idea, right? Send out a local promotion and increase sales, easy as that. Well, what if 20% of the neighborhood is vegetarian and 10% are vegan? Then at least 30% of your expected sales are never going to realize.