Thursday, May 20, 2010

Think you hold the power in a small business purchase decision? Think again.

Small business owners are doing their homework before making purchase decisions and they’re increasingly relying upon online and third party resources. Unlike consumer purchase decisions that are often driven by emotion, small business owners are more pragmatic and consider the practical business implications of purchasing something for their businesses. Now, they’re taking to the web for insights. Small business owners have always relied heavily upon their fellow business owners for advice but with the huge increase in online resources, small business owners now have the opportunity to tap into opinions and advice from millions of “strangers” in addition their own colleagues.

91% of all small business owners consult user
generated content/peers when making
purchase decisions

Your corporate web page remains the single most important resource for reliable and credible facts on your products and services, so the more questions you can answer there, the fewer additional resources they will need to consult in order to make a decision. As a marketer, a lot of the power you have over your brand is becoming outside of your control; however, there are learnings you can leverage. Spend some time mining the recommendations and opinions that your customers have about your products. They are likely honing in on key features or benefits that they think stand out for your product or service – this should align with the elements you are highlighting in your messages.

(i.e. Do an NPS Survey, profile your Ideal Customer and their needs, wants and most importantly their pains and fears, develop your Value Proposition (message) and provide relevant information to your Ideal Customers and Prospects based on this knowledge. Rick )

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