I was reminded of how common this problem is when working on a recent copywriting project. The work was for a B2B marketing agency whose client was selling products and services to small business.
Small businesses come in many types, of course, including such categories as:
- Personal services, such as hair and nail salons
- Home services, including contractors, landscapers, plumbers, electricians, etc.
- Gift stores
- Financial services, including CPAs and financial advisors
- Lawyers and physicians
- Dry cleaners and tailors
- Shoe repairs
- Phone stores
- Framing shops
- Drug stores
- Nail and hair salons
- and many more.
All of the direct mail, email and digital B2B marketing elements (media, channels, messaging) that were part of the client’s B2B marketing programs were chosen to reach and appeal to the generic small business.
However, like the song lyric “Lookin’ for love in all the wrong places,” this company was spreading its marketing budget over such a broad sweep of channels and businesses that the impact of each dollar spent was significantly diminished.
Then, its agency conducted a detailed analysis of the client’s customer database and the revelation was dramatic. Out of the dozens of small business categories, a handful of very specific types of small businesses stood far above the rest in terms of the number of orders and amount of revenue they generated.
Now, with this research in hand, all the client’s B2B marketing efforts are focused on channels that directly reach these small business categories. All the visuals and copy used in the marketing are designed to build a connection with these specific business types.
The lesson is clear. It’s essential that B2B marketers periodically conduct this kind of analysis of their own customer data. It’s the only way to ensure that they are not spreading their dollars too thinly, but that their targeting and messaging lead to the most sales, the greatest income and the best lifetime value.