Targeting the SME Market: From Theory to Practice
A key first step to launching a service offering is developing an understanding of the target market and the potential opportunity that it affords. Part of this process is the necessary task of segmenting the market and building an overview of its structure. This is marketing 101 – what’s the market, who are the customers and what’s the value of that market.
Whichever way you analyse it, it’s almost universally true that the vast majority of private enterprises fall into the category of SMEs – that is, they have fewer than 250 employees. More than 99% of businesses in the European region, for example, are SMEs. Of these, most have fewer than 20 employees – meaning that small companies are not only fundamental to the economy, they are a rich and promising target for service providers.
Yet while it seems that service providers are becoming increasingly aware of this opportunity, they are still failing to seize it. They can recognise the opportunity but cannot deliver compelling solution to capitalise on it. This is the key next step – to understand the needs of these customers and deliver an attractive solution to them that is profitable for the service provider.
According to recent research , SMEs are dissatisfied with the services that they receive from their providers. Among other failings they cite:
- Poor service quality
- Failure to resolve problems
- Lack of clear packages
- Complicated pricing
Operators are beginning to recognise this and the same research indicates that these problems are well known. It’s just that recognition of the problem hasn’t yet translated into positive action or enhanced service delivery.
The thing is, it’s easy to fix most of these things and there are many examples of operators that have recognised the significant opportunity presented by SME customers, realised that competing operators do not deliver services tailored for this market and finally – and crucially – have developed service offers that do address the needs of SME customers.
We know how to do this. If you want to address a significant untapped market that is eager to consume services, we have learnt from our customers the secrets of how operators succeed with SME customers.
This market cannot be ignored. Why not talk to us to find out how we can help you succeed? We can help you translate this opportunity into real and sustained success.