SMB vs Enterprise Customers: How to Win Over Big Clients in 2023

SMBs, otherwise known as Small to Mid-sized businesses are always on the lookout for new enterprise customers. 

Ideally, the target is to net a multitude of small-scale clients or bank a handful of enterprise customers, who’d make up for a decent profit chunk. Small-scale businesses, usually struggle to land a contract with their first enterprise client. 

The stretch could go over a year or two. 

However, once a high-rolling customer walks in, it’s all about piggybacking to get more enterprise customers through referrals, etc. 

With the inception of new technology, tons of businesses are founded each day. Not all of them live to see the light of day. In that regard, if you are an SMB owner, looking for an enterprise client, then this post is for you.

We have shared various tips on how to improve and improvise your services for better outreach, a delightful customer experience, and everything else to get enterprise customers to sign.

Let’s get started.

As Compared to SMBs, What Is an Enterprise Customer?

Enterprise customers are larger organizations and corporate entities that require specialized services and solutions. 

They usually have large budgets, more complex requirements, and higher expectations than smaller clients. 

As such, small and mid-sized businesses (SMBs) need to understand the needs of enterprise customers to be successful in winning them as clients. 

In particular, SMBs need to develop an understanding of the unique challenges that enterprise customers face. This includes understanding the operational processes and technologies used by these organizations, as well as their unique requirements for customer service. 

In addition, SMBS need to demonstrate their technical capabilities and show expertise in the specific area they are seeking business from. It is also important for SMBs to invest in building strong relationships with potential enterprise customers to gain trust before attempting to win a contract. 

Finally, SMBs need to be prepared to negotiate with enterprise customers on pricing and terms if they hope to secure a contract. 

By being able to meet the demands of at least one enterprise client, while still offering competitive rates and flexible terms, SMBs can position themselves as a viable option when it comes time for enterprises to select vendors. 

The key takeaway, depending on your market trends on enterprise client(s) is that these businesses have almost 1,000 employees and they could have $1 Billion in revenue. This is a broad-spectrum hypothesis, just to give you an idea.

Key Differentiators Among Enterprise Vs Small Business Owners/ Clients

Although these differences vary among enterprise customers and SMBs due to the ever-changing market economy and other business constraints, some of them can be highlighted as:

• Enterprises tend to have much larger budgets and operations, often with hundreds or thousands of team members and locations. 

SMBs typically have a lower budget, and fewer employees, and operate within a smaller geographic area.

• Enterprise customers generally have more complex needs when it comes to products and services, requiring highly specialized solutions that are tailored to their specific requirements. 

SMBs typically require simpler solutions that accommodate basic business needs without as many bells and whistles at an affordable price point. 

• An enterprise client can often take longer to make buying decisions because of their need for extensive research into potential vendors, detailed negotiation terms, and on-site visits from sales reps before making a purchase decision. 

SMBs tend to make decisions more quickly since they don’t need the same level of scrutiny or lengthy conversations about the products in question. 

• An enterprise client tends to expect higher levels of customer service due to the amount they spend on goods/services as well as due to their expectations regarding response times for any inquiries/complaints they may have about the products/services in question. 

SMBs usually prioritize cost savings over premium customer service offerings but do still expect companies they work with to answer emails promptly and provide support during normal business hours if needed.

Tips To Win Over Enterprise Customers In 2023

The following tips have been known to garner great results, depending on how much you’re looking to optimize your workflow. 

In other words, don’t follow these tips on how to get enterprise customers, to the letter. Improvise, and adopt new strategies, strictly depending on your business requirements, and whatever your competition is currently engaged in.

Referrals Go a Long Way

In the ever-evolving and highly competitive business landscape, referrals are one of the most effective ways to win over. 

They are a great way to get your foot in the door with potential customers, as they often come from trusted sources and have a higher chance of converting into sales. 

To maximize your chances of success, you must have a strong referral program in place that encourages your existing small-scale customers to refer their friends and colleagues. This means offering incentives for referrals such as discounts or special offers. 

While you are at it, make sure to give clear instructions on how customers can refer you, so that they don’t get confused or overwhelmed. 

With a well-thought-out referral program in place, you’ll be able to quickly grow your network of enterprise customers and establish yourself as an attractive partner for them, not only in 2023 but way beyond it.

To that effect, the baseline of each, or the very first enterprise client to walk through that door, is a delightful customer experience for existing clients. 

Business services and referrals work on a ‘word of mouth’ basis. Teach your existing customers with due diligence, and they’ll continue to bring in enterprise customers throughout your business’s lifeline. 

Fail Fast & Learn From Your Mistakes

If you have just failed to land an enterprise customer despite your best efforts, don’t get discouraged! This is a common issue faced by small-to-mid-sized businesses (SMBs), and there are ways to improve your chances of success. 

The key is to understand why you weren’t successful in the first place, and then use that knowledge to create a more attractive offering for the next round.

Assess the reason for failure. 

Was it due to a lack of experience? Poor customer service? Not enough resources? Or maybe the company was too small or specialized for the enterprise customer’s needs. Once you have identified the problem areas, you can begin crafting solutions.

For example, if you failed due to a lack of experience, then look for ways to gain more expertise in your industry. Consider taking classes or attending seminars on business development, or investing in research and analysis tools that will help you better understand customer needs.

If enterprise client service was an issue, then look into ways of improving communication channels with potential customers. Invest in customer relationship management (CRM) software that will help streamline communication with prospects and keep track of their preferences. 

You can also take steps to ensure that customers are getting adequate attention and support throughout the sales process.

Be Opportunistic About Scaling Outreach Through Social Media Campaigns

Enterprise vs small business success banks on social media outreach campaigns.

They are a great way to gain clients, regardless of the business size of your client. 

Use different, and simultaneous social media campaigns to drive awareness, build relationships, and increase engagement with potential customers. By leveraging the power of social media, you can expand your reach beyond your existing customer base and engage with new audiences that may be interested in your services. 

The key is to create a well-thought-out plan that includes content creation, influencer marketing, and targeted advertising. These strategies can help you get the word out about your business and attract more enterprise customers.

Moving on, the benefits of using social media for customer acquisition are vast. 

First, it allows you to showcase your products or services in a more personal way than traditional advertising channels allow. You can use visuals and videos to tell stories about how your business can help solve customer problems or meet specific needs that they may have. 

If the budget is there, you can also opt-in for increased outreach through influencer marketing you can tap into larger networks of potential customers who are already passionate about a certain topic or industry and thus more likely to be interested in what you have to offer. 

Moreover, targeted advertising campaigns can help reach people who are specifically looking for the services that you provide.

At the end of the day, gaining high-rolling clients through social media outreach campaigns takes time and dedication, but if done correctly it is an absolute gem of a strategy.

Learn from Mentor(s) To Get Enterprise Customers Through The Door

As a small business owner, it can be difficult to know where to start when it comes to finding your first enterprise client. 

You may feel overwhelmed and unsure of yourself, but the good news is that you don’t have to go it alone. Finding a mentor who has been through the process before and can provide advice, guidance, and support can be invaluable in helping you get your first enterprise customer. 

A mentor can help you create an effective strategy for approaching customers and give you tailored advice based on their own experiences. 

They will be able to provide you with insights into what works with certain types of businesses and how best to close a deal. Moreover, having someone who understands the nuances of the industry and has contacts within the sector can open up opportunities that wouldn’t have been available otherwise. 

Having a mentor also helps build confidence in yourself as a small business owner. They will be able to recognize your strengths and weaknesses and offer suggestions for improvement. This kind of support can make all the difference when it comes time to present your services and proposal to an enterprise customer. 

Work On Improving Cold Outreach Campaigns For Better Conversion

Cold outreach campaigns, when done right, can be a great way to get the attention of enterprise customers. Sending out emails and making calls to potential clients is an effective way to increase visibility and reach out to more people. While this approach has been around for a while, many small businesses are still hesitant to use it due to the often-high fail rate of cold outreach campaigns. 

One way to do this is by focusing on quality over quantity – sending out fewer but more personalized emails that are tailored to the specific needs of each company can help capture the attention of enterprise customers and make them feel valued. 

Additionally, utilizing automated follow-up emails can help keep conversations alive and provide additional opportunities for businesses to close deals with potential clients. 

On that note, make sure that you are reaching out to potential enterprise customers without sounding off as an annoying SMB owner. Whether it’s emails or cold sales calls, select a time of the day when it’s most appropriate for your enterprise client to respond to you. 

Especially, if you are sending emails, don’t spam potential customers. If they haven’t responded, send a follow-up email after a few days, and see how you can engage them in a conversation from that point onward.

Improving cold outreach campaigns also helps small businesses save time and resources by reducing wasted efforts on leads that are unlikely or unable to close a deal with them. By focusing their efforts on leads that have already expressed interest in their product or service, businesses can maximize their chances of success while minimizing wasted effort. 

Conclusion

There’s a lot more to learn about the art of bagging enterprise customers. Ultimately, it’s a constantly evolving process in a league of its own. 

You need to be on your toes and make smart use of technology to make deductions from analytics, reports, and exit and entry points of enterprise clients’ first interactions.

Keep at it, and you’ll be able to crack the code in no time. 

Good luck!

FAQs

What are some of the common challenges of getting your first enterprise client to sign on?

Finding the right point of contact and getting enterprises to respond is one of the most challenging aspects of the game. 

The key issue with large organizations is that they often have multiple people, departments, and decision-makers involved when it comes to their business dealings. Therefore, it can be difficult to reach out to all stakeholders promptly and structure an agreement that meets everyone’s needs.

Aside from this challenge, there can also be difficulties in understanding the customer’s specific requirements as well as being able to identify key selling points for your product or service offering. 

And let’s not forget about the concerns regarding pricing competitiveness.

It may come into play since larger businesses typically look for better cost savings options than what small companies can provide. Top it off with long sales cycles, and you are looking at deals that take time to mature.

What are the benefits of working with a handful of enterprises as compared to dealing with multiple SMB-level clients?

Working with only a handful of enterprises as opposed to dealing with multiple SMB clients provides several benefits. 

For instance, large enterprises typically involve higher-value contracts and thus more lucrative revenue streams. Secondly, there is often greater financial security when dealing with large established companies as compared to many small businesses which may be undercapitalized or unable to pay for services. 

Moreover, larger companies are often able to provide more resources for projects than smaller ones– such as personnel expertise and technology infrastructure –which can make the project easier and more efficient.