The small and midsize business market is significant, making up 44% of the U.S. GDP. However, it poses challenges due to its fragmented and competitive nature. Integrating AI with traditional sales techniques gives technology providers strategic insights needed to navigate this market effectively., based on a survey of 3,500 U.S. SMBs, shows that in today's tougher economic climate, SMBs have longer and more complex buying processes to ensure their survival.
Based on conversations with sales teams from various startups selling to SMBs, we identified the following challenges: • Finding SMB leads is difficult because there’s no easy way to locate them. People often have to search randomly through platforms like Google Maps, Yelp and Yellow Pages. • Filtering out these SMB leads isn’t easy. We observe different lead filtering requirements from our clients, and each of them, after receiving a list from the leads provider or others, still needs to spend days on manual research to determine if the business is a fit.In the past, understanding the SMB sector required significant manual effort, visiting each store to evaluate their situation and manually figure out whether they were a fit.
What’s more? We can leverage website traffic and engagement data from tools like Google Analytics to understand SMBs' interests and potential needs. Similarly, insights from search queries and social media can provide valuable information about what SMBs are looking for, using platforms like Google AdWords and SEMrush for valuable search data.