Home
Subscribe
CRM
Magazine
CRM eWeekly (e-Newsletter)
Cloud Dashboard (e-Newsletter)
RSS Feeds
Web Exclusives
CRM Featured Articles
CRM Across the Wire
Viewpoints
Archived Best Practices Articles
Employment Opportunities
CRM Defined
Digital
CRM
destinationCRM Blog
CRM
Magazine
Current Issue
Previous Issues
Digital
CRM
Awards
Subscribe to
CRM
magazine
Topics
Analytics
Big Data CRM
Channel Management
Cloud-based CRM
Customer Service/Call Centers
Enterprise CRM
Integration
Marketing Automation
Mobile
Sales Automation
SMB/Mid-market CRM
Social CRM
Industries
Consumer Packaged Goods
Education
Financial Services/Banking
Government
Healthcare
Insurance
Manufacturing/Automotive
Non-profit
Pharmaceuticals/Chemicals
Professional Services
Retail
Sports/Entertainment
Technology
Telecommunications
Transportation
Travel/Hospitality
CRM Partners
Analytics
Big Data CRM
Channel Management
Cloud-based CRM
Customer Service/Call Centers
Enterprise CRM
Integration
Marketing Automation
Mobile
Sales Automation
SMB/Mid-market CRM
Social CRM
CRM Resources
CRM Buyer's Guide
Best Practices White Papers
Sponsored Content
Sponsored Videos
CRM Directory
Conference Videos
Events/Programs
Web Events
CRM Evolution Conference
Smart Customer Service Conference
SpeechTek
Events Calendar
About
What is CRM?
About Us
Contact Us
How to Advertise
Getting Covered
Editorial Calendar
Reprints
Putting a Face On Small-Business Owners
Understanding the needs of both the small business and its owner brings you one step closer to securing a purchase.
By
Alexandra DeFelice
Posted Jan 27, 2005
Page 1
Related Whitepapers
Voice of the Customer Strategies for Better Customer Insights
Customers Prefer Self-Service
CRM Magazine’s 2017 Buyer’s Guide & Vendor Directory
Must-Have Sales & Marketing Tools That Deliver Immediate ROI
The Evolution of Contact Centers to Customer Engagement Centers
Business Intelligence & Analytic Solutions for Deeper Insights
Rethinking Workforce Optimization
2018 Megatrends: CRM Predictions From Top Industry Experts
Voice of the Customer Programs: From Listening to Action
The State of IVRs in 2018: Great Self-Service Solutions
Knowledge Management: Crucial for Customer Service Success
Conga + Salesforce = An End-to-End Sales Cycle Solution
Improving the Customer Experience in a Smartphone-Centric World
Small-business owners are 54 percent more likely to be receptive to email than the general population, according to a recent Experian study. That's invaluable information for companies looking to market to one of the largest of consumer groups. The information allows marketers to package their product in a unique way. The purpose of the study was to put a face on today's small-business owner--a group whose individuals have different needs from decision-makers in publicly owned companies. Experian took a sample of 1 million small-business owners and matched them against a national consumer database. The study highlights areas where these potential customers stood out from their peers. Key areas include affluence (21 percent higher income than the general population); residence (most live in Pacific and Mountain time zones); and charitable giving (they donate more than the overall population). "It's the cutting-edge entrepreneurial view versus what they're really like,'' says Denise Hopkins, senior director of business marketing solutions for Experian. According to Hopkins, the study reveals that small-business owners are stable and family-oriented. One of the most intriguing discoveries, Hopkins says, is that small-business owners tend to come from traditional households--those in which a male heads the household and is married with children--and are on average 50.3 years old. That's very different from today's image of a 20-something entrepreneur who struck it big with his Internet startup. Email receptiveness was another key finding, which is further broken down by industry--those in the services industry tend to be the most receptive, followed by those in finance, insurance, real estate, and public administration. When dealing with a smaller company, according to study results, the needs of the business and the business owner both play into the motivation to buy. Understanding those needs brings you one step closer to securing a purchase, even if you can't meet them in Hawaii for that secret getaway. The crossover between commercial and consumer spending is another important element of Experian's study. "Industry research suggests that small-business owners often blur the lines of their business and personal expenses, using their personal and commercial credit cards and bank accounts interchangeably," the study states. "Knowing how a small-business owner's credit score correlates with (that of his company) offers financial institutions ... a more comprehensive and holistic view of a business's creditworthiness and risk, helping them make important lending and financing decisions."
Related articles:
SMB Customers Are Key to CRM Health
Analyzing CRM Data
Print Version
Page 1
To contact the editors, please email
editor@destinationCRM.com
Every month, CRM magazine covers the customer relationship management industry and beyond. To subscribe, please visit
http://www.destinationCRM.com/subscribe/
.
Popular Articles
Gartner Finds CRM Was the Largest Software Market in 2017
CRM Evolution/Smart Customer Service 2018: Keep True and Honest Amid Rapid Change
Whishworks Partners with Databricks on Big Data Analytics
Demandbase Introduces ABM Analytics, Integrates with Pardot
Oracle Modern Customer Experience Day 1: Oracle Boosts AI, Adds Other Marketing Enhancements to CX Cloud Suite
Marketplace
Unisphere Research
Delivering Certainty Through In-Depth Analysis of Enterprise Technology, IT, Marketing & Media Trends
Home
|
Get
CRM
Magazine
|
CRM eWeekly
|
CRM Topic Centers
|
CRM Industry Solutions
|
CRM News
|
Viewpoints
|
Web Events
|
Events Calendar
RSS Feeds
|
About destinationCRM
|
Advertise
|
Getting Covered
|
Report Problems
|
Contact Us
© 2000 - , CRM Media, a division of Information Today, Inc. (ITI)
PRIVACY/COOKIES POLICY