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How SMBs Research Applications and Other Tech

The document presents findings from a survey conducted on U.S. SMBs regarding their operational status, technology adoption intent, and research behaviors. Key insights reveal that a majority of SMBs are fully operational post-COVID-19, with variations in optimism and technology upgrades based on business size. It highlights their preferred channels for researching products and services, emphasizing the significance of search engines and peer recommendations.

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January 27, 2022 How SMBs Research Applications and Other Tech
INCREASING SALES TO SMBS 2
INSIGHT • Qualitative • Focus groups • Workshops • In-depth interviews • Quantitative • Custom online • SMB Pulse omnibus • Snap Poll • Attitudes and usage • Buyer identification • Competitive perceptions • Market segmentation • Media behaviors/ preferences • Message/positioning testing • Net promoter score • Persona/buyer journey • Purchase intent, behaviors, channels and preferences Analytics Output • Crosstab tables • Correlation analysis • Sig testing • Segmentation • Pricing • Path analysis • Factor/cluster analysis • Perceptual mapping Insight for CE/product/ marketing strategy Data for PR/content/social/ collateral programs Topics Methods
OUTREACH Video Email Newsletters Checklists/ Worksheets Case Studies Articles Blog Posts White Papers Podcasts E-books PR Surveys Social Media Handbooks/ Guides Webcasts Slideshows Infographics Interactive Tools • Survey data • Creative brief • Editorial calendar • Content development • Content audit • Analytics Contribution • Expert • Actionable • Relevant • Easy to understand • Professional • Brand-building • Custom Principles Direct Mail Event Collateral Brochures / Sell Sheets Custom Pubs 4
WHAT WE’LL COVER Operational status Media preferences 1 2 3 Application adoption intent Content preferences Roles in research process 4 5 6 Messaging Application purchase intent, and preferred tech solution media and messaging, among 500 U.S. SMB principals 5
METHODOLOGY 6 Online survey via the Bredin.com/SMBPulse Principals of U.S. SMBs with up to 500 employees WHEN HOW WHO % Indicates highest % in a column (A) / (B) / (C) Indicates statistically significant difference between segments The SMB Pulse is open to marketer participation. October 22 to November 10, 2021 Sample Size Weighting 1-19 EEs Very Small Businesses or VSBs 250 97.7% 20-99 EEs Small Businesses or SBs 150 2.0% 100-500 EEs Midsized Businesses or MBs 100 0.3% Some charts in this deck do not total to 100% due to rounding.
SAMPLE FIRMOGRAPHICS Company Age Title/Role Company Size 21% 21% 8% 30% 13% 7% 2-9 9% 45% 27% 19% Less than 2 years 2-9 years 10-19 years 20 years or more 250-500 20-99 10-19 1 (just me) 100-249 7 500n 100% Principal (e.g., Owner, Founder, Partner, CEO, President) 25% 20% 17% 21% 12% 5% Less than $100K $100K to $499K $500K to $999K $1M to $4.9M $5M to $10M More than $10M Company Revenue Small Businesses Midsized Businesses Very Small Businesses
SAMPLE FIRMOGRAPHICS 8 West 22% South 39% Midwest 20% Northeast 19% Geography 42% 44% 14% Population Density Urban Suburban Rural 25% 27% 35% 13% Manufacturing Construction/ Contracting/Electrical/ Landscape/Plumbing/etc. 18% Manufacturing 5% Transportation and Warehousing 3% Automotive 3% Agriculture/Forestry/Fishing/Mining 2% Computer Hardware/Electronic Equipment 2% Telecommunications 2% Energy/Utilities 1% Pharmaceutical/Medical Devices/Biotechnology 1% Personal Services/Ed Personal Services 9% Education/Training 4% Industry Professional Services Financial Services/Accounting/ Bookkeeping 4% Computer Software/Internet 4% Medical/Dental 4% Advertising/Consulting/Design/ Marketing Services 3% Banking/Insurance/Mortgage 3% Computer Services/Consulting 3% Legal 2% Architect/Engineering 1% Publishing/Printing/Media 1% Retail/Wholesale Retail 12% Real Estate 5% Food/Beverage/Restaurants 3% Entertainment/Recreation 2% Wholesale 2% Travel/Hotel/Hospitality 1% 500n
16% 9% 17% 38% 16% 4% High school or lower grade Trade/technical/vocational training Associate degree Bachelor’s degree Master’s or professional degree Doctorate 75% 12% 8% 2% 2% 2% White/Caucasian Black or African American Hispanic American Asian American/Pacific Islander American Indian or Alaskan Native Multiple ethnicity/other SAMPLE DEMOGRAPHICS 9 37% 33% 30% Democrat Republican Independent Education Level Political Affiliation Race/Ethnicity 2% 31% 41% 23% 2% Gen Z (18 to 22) Millennial (23 to 38) Gen X (39 to 54) Boomer (55 to 73) Silent Gen. (74+) Respondent Age n=500 57% Male 43% Female Gender
DETAILED FINDINGS
OPERATIONAL STATUS AND OUTLOOK • Four in five SMBs are back to being fully operational • Business optimism increases with company size 11 • Which best describes your current company situation, in light of COVID-19? • How do you expect your 2021 revenue to compare to 2020? 78% 77% 84% 19% 20% 15% 4% 3% 1% VSBs (A) SBs (B) MBs (C) Open for business; fully operational Open for business on a limited basis Closed, but plan to reopen Operational Status Growth Outlook 5% 9% 13% (A) 42% 53% (A) 61% (A) 19% 23% (C) 13% 21% (BC) 11% 7% 13% (B) 5% 6% VSBs (A) SBs (B) MBs (C) Up by more than 100% Up by 10% to 100% Up by less than 10% Same as 2020 Down compared to 2020
2022 APPLICATION UPGRADE INTENT BY COMPANY SIZE 12 n=varies IF USE When are you most likely to upgrade these applications/software, services or technologies? (IN 2022) • Overall, VSBs are most likely to upgrade design, customer service and marketing/e-commerce software in 2022 • SBs are most likely to upgrade collaboration, customer service and marketing/e-commerce software • For MBs, it is design, customer service and videoconferencing applications 38% 42% 31% 32% 42% 33% 25% 29% 34% 33% 35% 35% 24% 24% 48% 42% 41% 45% 48% 51% 35% 42% 31% 35% 47% 46% 31% 31% 46% 71% 44% 43% 64% 48% 53% 50% 42% 42% 36% 50% 43% 41% November VSBs (A) SBs (B) MBs (C) Marketing/e-commerce applications Design/illustration software AB IT/data security solutions PCs/laptops/desktop computers A Customer service software A Collaboration software Videoconferencing software A Merchant processing Payroll/PEO/HCM/workforce scheduling app/srvcs Document creation and management Accounting/financial management software CRM/salesforce automation software Internet access A Telecoms/VoIP service 1 3 1 1 2 2 1 3 2
2022 APPLICATION ADOPTION INTENT BY COMPANY SIZE 13 n=varies IF DON’T USE When are you most likely to adopt these applications, services or technologies? (IN 2022) • PCs/laptops/desktops are a top-three purchase for SMBs in 2022, regardless of size • VSBs and SBs also mention adopting financial management software; MBs mention CRM and payroll solutions 33% 17% 22% 26% 19% 26% 20% 18% 15% 18% 16% 17% 17% 15% 39% 45% 39% 36% 36% 39% 29% 34% 31% 36% 31% 35% 31% 35% 51% 37% 38% 42% 39% 33% 47% 33% 41% 39% 57% 40% 47% 52% November VSBs (A) SBs (B) MBs (C) PCs/laptops/desktop computers A Internet access A A Marketing/e-commerce applications A A Document creation and management A Videoconferencing software (350n) A A Accounting/financial management software Merchant processing AB IT/data security solutions A A Telecoms/VoIP service A A Collaboration software A A CRM/salesforce automation software A AB Customer service software A A Design/illustration software A AB Payroll/PEO/HCM/workforce scheduling apps/srvcs A A 2 1 2 1 2 1 3 2 2 2
POLL 14 14 How are SMBs most likely to conduct research on products or services for their business? O A vendor’s website O Facebook O Rating/review sites O Search O Word of mouth
RESEARCH MEDIA 15 15 55% 55% 34% 30% 30% 25% 25% 24% 24% 23% 22% 22% 20% 20% 65% (A) 54% 41% 40% 42% (A) 42% (A) 46% (A) 37% (A) 37% (A) 39% (A) 45% (A) 36% (A) 29% (A) 37% (A) 64% 61% 59% (AB) 54% 43% (A) 47% (A) 57% (A) 49% (A) 45% (A) 50% (A) 59% (AB) 58% (AB) 48% (AB) 55% (AB) Search (e.g., Bing, Google, Yahoo!) Word of mouth / peer recommendations Facebook YouTube Product section of vendor’s website Resources section of a vendor’s website Business or general news sites Forums or discussion boards Print publications (magazines, newspapers) Niche sites, e.g., industry trade groups, etc. LinkedIn Live events or trade shows Postcard, letter or catalog from vendors Webinars/webcasts VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs 100-500 (C) 100n 1 1 3 2 1 3 2 1 3 19% 19% 18% 18% 18% 16% 16% 15% 14% 14% 11% 8% 38% (A) 32% (A) 41% (A) 39% (A) 29% (A) 23% 31% (A) 31% (A) 28% (A) 31% (A) 32% (A) 23% (A) 50% (A) 48% (AB) 52% (A) 51% (A) 48% (AB) 40% (AB) 54% (AB) 47% (AB) 35% (A) 50% (AB) 40% (A) 34% (AB) Email newsletters Instagram Ratings or review sit Tech websites like CNET, etc. Bloggers/influencers/ independent experts TikTok Twitter Radio or TV Pinterest One-off (i.e., promotional) emails Outdoor billboards or signage Clubhouse (the audio- only app) % VERY LIKELY • When researching solutions for their businesses, SMBs are most likely to use search, regardless of size • After that, they are most likely to use word of mouth • Media usage generally increases with company size How likely are you to use each of these specific information sources to research and/or assess products or services for your business? Please select one response in each row. Clubhouse (the audio-only app) Outdoor billboards or signage
AWARENESS VS. RESEARCH MEDIA • SMBs are most likely to use search to first learn about as well as to research products and services for their business • They use every medium more heavily for research than awareness – especially the vendor’s website 16 16 33% 19% 17% 15% 15% 14% 13% 13% 12% 12% 11% 10% 10% 10% 55% 30% 25% 34% 23% 24% 20% 23% 20% 30% 24% 19% 19% 14% Search (e.g., Bing, Google, Yahoo!) YouTube Business or general news sites Facebook LinkedIn Print publications (magazines, newspapers) Email newsletters Live events or trade shows Webinars/webcasts Product section of vendor’s website Niche sites, e.g., industry trade groups, Chambers of Commerce, etc. Tech websites like CNET, Spiceworks, etc. Ratings or review site (e.g., G2Crowd, Software Advice) One-off (i.e., promotional) emails First Learn Research and/or Assess 1 1 2 2 3 3 How likely are you to use each of these specific information sources to FIRST LEARN ABOUT/RESEARCH AND/OR ASSESS products or services for your business? Please select one response in each row. 10% 9% 9% 9% 9% 8% 8% 6% 5% 5% 4% 15% 26% 21% 24% 18% 16% 14% 20% 11% 9% 17% Radio or TV Resources section of a vendor’s website Postcard or catalog in the mail from vendors Forums or discussion boards Bloggers/influencers/ columnists Twitter Pinterest Instagram Outdoor billboards or signage Clubhouse (the audio- only app) TikTok 3 % VERY LIKELY
INFLUENCERS • SMBs follow a wide range of influencers • Dave Ramsay, Elon Musk, Mark Zuckerberg and Gary Vaynerchuk are top of mind 17 17 Which specific authors, bloggers, columnists, experts, podcasters, Twitter personalities, video bloggers etc. do you follow for business tips, advice and perspective, and/or to research or assess products and services for your business?
MEDIA • As with influencers, SMBs rely on a wide range of media • Forbes, The Wall Street Journal, Bloomberg and C|NET are top-of-mind SMB media 18 18 What specific publications, newsletters, sites or blogs do you rely on for industry and/or general business news and advice, and/or to learn about products and services for your business?
CONTENT FORMATS 23% 22% 22% 21% 21% 20% 19% 19% 19% 19% 18% 18% 18% 16% 15% 15% 13% 12% 43% (A) 34% (A) 37% (A) 39% (A) 41% (A) 37% (A) 36% (A) 39% (A) 35% (A) 33% (A) 41% (A) 33% (A) 32% (A) 29% (A) 35% (A) 33% (A) 31% (A) 33% (A) 49% (A) 49% (AB) 52% (AB) 49% (A) 55% (AB) 58% (AB) 55% (AB) 54% (AB) 44% (A) 51% (AB) 51% (A) 52% (AB) 43% (A) 48% (AB) 49% (AB) 44% (A) 45% (AB) 42% (A) Video on vendor’s website Article Facebook post Email newsletter LinkedIn post Research report Analyst report Webinar/webcast Checklist/worksheet Case study Interactive tool (e.g., calculator, quiz) e-book/guide/handbook Blog post Podcast White paper One-off email (for example from a sales rep) Infographic Tweet 19 How likely are you to use each of these specific content formats from vendors like Adobe, Amazon, Dell, Google, Intuit, LinkedIn, Microsoft, Salesforce, etc., to research or assess products or services for your business? VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n % VERY LIKELY 1 2 3 1 2 2 2 1 2 • To research products and services, VSBs and SBs most prefer video on your website; MBs, a research report • Other than LinkedIn posts, there is little overlap in preferences by company size • Like media usage, content usage generally increases with company size, especially for less-popular formats
AWARENESS VS. RESEARCH CONTENT FORMATS 14% 13% 13% 11% 11% 10% 10% 10% 10% 9% 9% 9% 8% 8% 7% 6% 6% 4% 23% 22% 22% 19% 21% 15% 19% 20% 19% 20% 19% 23% 19% 15% 18% 17% 13% 14% Article Email newsletter Facebook post Webinar/webcast LinkedIn post One-off email (for example from a sales rep) Case study Research report e-book/guide/handbook Analyst report Checklist/worksheet Video on vendor’s website Interactive tool (e.g., calculator, quiz) White paper Blog post Podcast Tweet Infographic • In aggregate, articles are an effective content format at the top and middle of the sales funnel, as are email newsletters and Facebook posts 20 How likely are you to use each of these specific content formats from vendors like Adobe, Amazon, Dell, Google, Intuit, LinkedIn, Microsoft, Salesforce, etc., to FIRST LEARN ABOUT/RESEARCH OR ASSESS products or services for your business? % VERY LIKELY 1 2 3 1 1 3 First Learn Research or Assess Products
TECHNOLOGY BENEFITS • SMBs value different benefits based on their size, and SBs and MBs generally value each benefit more than VSBs do • VSBs most value tech that improves their offerings; SBs, customer service; MBs, security, growth and productivity 21 When you are researching new technology/software at your company, how important are each of these factors or benefits? VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n % VERY IMPORTANT 63% 61% 60% 58% 54% 53% 52% 50% 47% 45% 44% 42% 41% 35% 33% 70% 68% 74% (A) 71% (AC) 68% (A) 65% (A) 73% (A) 54% 69% (A) 65% (A) 56% (A) 69% (A) 60% (A) 61% (A) 53% (A) 68% 69% 67% 56% 70% (A) 70% (A) 68% (A) 52% 70% (A) 63% (A) 62% (A) 66% (A) 65% (A) 58% (A) 56% (A) Improves our products and services Improves our capabilities/functionality Improves our customer service Lowers our overall business costs Improves our data security Helps us take advantage of growth opportunities Improves our competitiveness Lowest-cost solution Improves employee productivity Helps us keep up with changes in customer, etc., use of technology Improves our “anywhere, anytime” access to apps, data and documents Improves our compliance with government/industry regulations Improves our analytics/budgeting/reporting Lowers our IT costs Current solution is dated/reaching “end of life” 1 2 3 1 2 3 1 1 1
RESEARCH ROLE Principal 78% Principal 47% Principal 40% Principal 83% Principal 52% Principal 38% Principal 86% Principal 53% Principal 40% Head of finance, 5% Head of finance, 20% Head of HR 19% Head of HR 32% CPA 7% CPA 16% CPA 5% Head of IT 12% Head of IT 20% Peers/colleagues 5% Peers/colleagues 5% Attorney 5% Business banker 6% Business partner(s) 5% Head of operations 6% Office manager 5% Other employees 6% Other employees 5% VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n • SMB principals see themselves as most likely to be the primary researcher for every surveyed application • The bigger the company, though, the more likely that other roles lead the research 22 Who is the primary person who researches and/or assesses products or services for your business, for each of these categories? 50% Accounting/financial applications Hiring services/HR applications Internet access/ telecoms/VoIP service
RESEARCH ROLE (CONTINUED) Principal 77% Principal 48% Principal 39% Principal 82% Principal 46% Principal 41% Principal 82% Principal 54% Principal 45% Head of finance 5% Head of finance 10% Head of IT 22% Head of IT 27% Head of IT 5% Peers/colleagues 5% Board/investors 5% Business banker 5% Business partner(s) 7% Head of marketing 13% Head of marketing 23% Head of sales 5% IT consultant/MSP 10% Other employees 5% Other employees 6% Other employees 12% Other employees 7% Other employees 6% Other employees 7% Other consultancies 5% VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n • Not surprisingly, the second-most important role tends to be function-relevant, i.e., the financial head leads research for financial apps, the HR head leads research for HR apps, the IT head leads research for IT-related products 23 Who is the primary person who researches and/or assesses products or services for your business, for each of these categories? 50% IT/data security solutions Marketing/customer service applications Merchant processing/payments
RESEARCH ROLE (CONTINUED) Principal 86% Principal 58% Principal 51% Principal 82% Principal 58% Principal 50% Principal 83% Principal 51% Principal 44% Head of IT 11% Head of IT 14% Head of IT 7% Head of IT 11% Peers/colleagues 5% Attorney 5% Board/investors 5% Business partner(s) 5% Business partner(s) 5% Business partner(s) 5% Business partner(s) 7% Head of operations 5% Head of operations 9% IT consultant/MSP 5% IT consultant/MSP 6% Office manager 6% Office manager 7% Other employees 7% Other employees 7% Other employees 6% Other employees 7% Other consultancies 5% VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs 1-19 250n SBs 20-99 150n MBs 100-500 100n VSBs 1-19 250n SBs 20-99 150n MBs 100-500 100n • The solutions with the most roles involved (for SBs and MBs) are merchant processing, PCs, telecoms and videoconferencing 24 Who is the primary person who researches and/or assesses products or services for your business, for each of these categories? 50% PCs/laptops/ desktop computers Productivity applications Videoconferencing software
WORKING WITH A SALESPERSON 25 Which of these best describes how you prefer to work with a salesperson when you are researching a product or service for your business? VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n 45% 38% 15% 2% We prefer to conduct all research ourselves We do most research ourselves, but are open to a salesperson answering questions We like to have a salesperson help us understand a product or service, but we supplement that with our own research We rely pretty much exclusively on a salesperson to help us understand everything about a product or service; we do little or no additional research 46% (BC) 38% 14% 2% 29% 43% 23% (A) 4% 33% 37% 23% 7% (A) • At the research stage, VSBs are much more likely than SBs or MBs to want to conduct research themselves — i.e., not to want to be contacted by a salesperson • However, many SMBs of all sizes want the support of a salesperson, so be sure to enable self-help and sales support
Research • Product / go-to-market strategy / CE / NPS • Persona / buyer journey • Original data for standout content and PR Strategy • Content strategy • Creative brief / ed cal Content • Original content development • Exclusive SMB focus HOW BREDIN CAN HELP Stu Richards, CEO stu@bredin.com Work with the experts in SMB insight and engagement 26
POLL 27 27 Would you like to discuss SMB research and/or content support with Bredin? O Yes O No
THANK YOU

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How SMBs Research Applications and Other Tech

  • 1.
    January 27, 2022 HowSMBs Research Applications and Other Tech
  • 2.
  • 3.
    INSIGHT • Qualitative • Focusgroups • Workshops • In-depth interviews • Quantitative • Custom online • SMB Pulse omnibus • Snap Poll • Attitudes and usage • Buyer identification • Competitive perceptions • Market segmentation • Media behaviors/ preferences • Message/positioning testing • Net promoter score • Persona/buyer journey • Purchase intent, behaviors, channels and preferences Analytics Output • Crosstab tables • Correlation analysis • Sig testing • Segmentation • Pricing • Path analysis • Factor/cluster analysis • Perceptual mapping Insight for CE/product/ marketing strategy Data for PR/content/social/ collateral programs Topics Methods
  • 4.
    OUTREACH Video Email Newsletters Checklists/ Worksheets Case Studies Articles BlogPosts White Papers Podcasts E-books PR Surveys Social Media Handbooks/ Guides Webcasts Slideshows Infographics Interactive Tools • Survey data • Creative brief • Editorial calendar • Content development • Content audit • Analytics Contribution • Expert • Actionable • Relevant • Easy to understand • Professional • Brand-building • Custom Principles Direct Mail Event Collateral Brochures / Sell Sheets Custom Pubs 4
  • 5.
    WHAT WE’LL COVER Operationalstatus Media preferences 1 2 3 Application adoption intent Content preferences Roles in research process 4 5 6 Messaging Application purchase intent, and preferred tech solution media and messaging, among 500 U.S. SMB principals 5
  • 6.
    METHODOLOGY 6 Online survey viathe Bredin.com/SMBPulse Principals of U.S. SMBs with up to 500 employees WHEN HOW WHO % Indicates highest % in a column (A) / (B) / (C) Indicates statistically significant difference between segments The SMB Pulse is open to marketer participation. October 22 to November 10, 2021 Sample Size Weighting 1-19 EEs Very Small Businesses or VSBs 250 97.7% 20-99 EEs Small Businesses or SBs 150 2.0% 100-500 EEs Midsized Businesses or MBs 100 0.3% Some charts in this deck do not total to 100% due to rounding.
  • 7.
    SAMPLE FIRMOGRAPHICS Company Age Title/RoleCompany Size 21% 21% 8% 30% 13% 7% 2-9 9% 45% 27% 19% Less than 2 years 2-9 years 10-19 years 20 years or more 250-500 20-99 10-19 1 (just me) 100-249 7 500n 100% Principal (e.g., Owner, Founder, Partner, CEO, President) 25% 20% 17% 21% 12% 5% Less than $100K $100K to $499K $500K to $999K $1M to $4.9M $5M to $10M More than $10M Company Revenue Small Businesses Midsized Businesses Very Small Businesses
  • 8.
    SAMPLE FIRMOGRAPHICS 8 West 22% South 39% Midwest 20% Northeast 19% Geography 42% 44% 14% PopulationDensity Urban Suburban Rural 25% 27% 35% 13% Manufacturing Construction/ Contracting/Electrical/ Landscape/Plumbing/etc. 18% Manufacturing 5% Transportation and Warehousing 3% Automotive 3% Agriculture/Forestry/Fishing/Mining 2% Computer Hardware/Electronic Equipment 2% Telecommunications 2% Energy/Utilities 1% Pharmaceutical/Medical Devices/Biotechnology 1% Personal Services/Ed Personal Services 9% Education/Training 4% Industry Professional Services Financial Services/Accounting/ Bookkeeping 4% Computer Software/Internet 4% Medical/Dental 4% Advertising/Consulting/Design/ Marketing Services 3% Banking/Insurance/Mortgage 3% Computer Services/Consulting 3% Legal 2% Architect/Engineering 1% Publishing/Printing/Media 1% Retail/Wholesale Retail 12% Real Estate 5% Food/Beverage/Restaurants 3% Entertainment/Recreation 2% Wholesale 2% Travel/Hotel/Hospitality 1% 500n
  • 9.
    16% 9% 17% 38% 16% 4% High school orlower grade Trade/technical/vocational training Associate degree Bachelor’s degree Master’s or professional degree Doctorate 75% 12% 8% 2% 2% 2% White/Caucasian Black or African American Hispanic American Asian American/Pacific Islander American Indian or Alaskan Native Multiple ethnicity/other SAMPLE DEMOGRAPHICS 9 37% 33% 30% Democrat Republican Independent Education Level Political Affiliation Race/Ethnicity 2% 31% 41% 23% 2% Gen Z (18 to 22) Millennial (23 to 38) Gen X (39 to 54) Boomer (55 to 73) Silent Gen. (74+) Respondent Age n=500 57% Male 43% Female Gender
  • 10.
  • 11.
    OPERATIONAL STATUS ANDOUTLOOK • Four in five SMBs are back to being fully operational • Business optimism increases with company size 11 • Which best describes your current company situation, in light of COVID-19? • How do you expect your 2021 revenue to compare to 2020? 78% 77% 84% 19% 20% 15% 4% 3% 1% VSBs (A) SBs (B) MBs (C) Open for business; fully operational Open for business on a limited basis Closed, but plan to reopen Operational Status Growth Outlook 5% 9% 13% (A) 42% 53% (A) 61% (A) 19% 23% (C) 13% 21% (BC) 11% 7% 13% (B) 5% 6% VSBs (A) SBs (B) MBs (C) Up by more than 100% Up by 10% to 100% Up by less than 10% Same as 2020 Down compared to 2020
  • 12.
    2022 APPLICATION UPGRADEINTENT BY COMPANY SIZE 12 n=varies IF USE When are you most likely to upgrade these applications/software, services or technologies? (IN 2022) • Overall, VSBs are most likely to upgrade design, customer service and marketing/e-commerce software in 2022 • SBs are most likely to upgrade collaboration, customer service and marketing/e-commerce software • For MBs, it is design, customer service and videoconferencing applications 38% 42% 31% 32% 42% 33% 25% 29% 34% 33% 35% 35% 24% 24% 48% 42% 41% 45% 48% 51% 35% 42% 31% 35% 47% 46% 31% 31% 46% 71% 44% 43% 64% 48% 53% 50% 42% 42% 36% 50% 43% 41% November VSBs (A) SBs (B) MBs (C) Marketing/e-commerce applications Design/illustration software AB IT/data security solutions PCs/laptops/desktop computers A Customer service software A Collaboration software Videoconferencing software A Merchant processing Payroll/PEO/HCM/workforce scheduling app/srvcs Document creation and management Accounting/financial management software CRM/salesforce automation software Internet access A Telecoms/VoIP service 1 3 1 1 2 2 1 3 2
  • 13.
    2022 APPLICATION ADOPTIONINTENT BY COMPANY SIZE 13 n=varies IF DON’T USE When are you most likely to adopt these applications, services or technologies? (IN 2022) • PCs/laptops/desktops are a top-three purchase for SMBs in 2022, regardless of size • VSBs and SBs also mention adopting financial management software; MBs mention CRM and payroll solutions 33% 17% 22% 26% 19% 26% 20% 18% 15% 18% 16% 17% 17% 15% 39% 45% 39% 36% 36% 39% 29% 34% 31% 36% 31% 35% 31% 35% 51% 37% 38% 42% 39% 33% 47% 33% 41% 39% 57% 40% 47% 52% November VSBs (A) SBs (B) MBs (C) PCs/laptops/desktop computers A Internet access A A Marketing/e-commerce applications A A Document creation and management A Videoconferencing software (350n) A A Accounting/financial management software Merchant processing AB IT/data security solutions A A Telecoms/VoIP service A A Collaboration software A A CRM/salesforce automation software A AB Customer service software A A Design/illustration software A AB Payroll/PEO/HCM/workforce scheduling apps/srvcs A A 2 1 2 1 2 1 3 2 2 2
  • 14.
    POLL 14 14 How are SMBsmost likely to conduct research on products or services for their business? O A vendor’s website O Facebook O Rating/review sites O Search O Word of mouth
  • 15.
    RESEARCH MEDIA 15 15 55% 55% 34% 30%30% 25% 25% 24% 24% 23% 22% 22% 20% 20% 65% (A) 54% 41% 40% 42% (A) 42% (A) 46% (A) 37% (A) 37% (A) 39% (A) 45% (A) 36% (A) 29% (A) 37% (A) 64% 61% 59% (AB) 54% 43% (A) 47% (A) 57% (A) 49% (A) 45% (A) 50% (A) 59% (AB) 58% (AB) 48% (AB) 55% (AB) Search (e.g., Bing, Google, Yahoo!) Word of mouth / peer recommendations Facebook YouTube Product section of vendor’s website Resources section of a vendor’s website Business or general news sites Forums or discussion boards Print publications (magazines, newspapers) Niche sites, e.g., industry trade groups, etc. LinkedIn Live events or trade shows Postcard, letter or catalog from vendors Webinars/webcasts VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs 100-500 (C) 100n 1 1 3 2 1 3 2 1 3 19% 19% 18% 18% 18% 16% 16% 15% 14% 14% 11% 8% 38% (A) 32% (A) 41% (A) 39% (A) 29% (A) 23% 31% (A) 31% (A) 28% (A) 31% (A) 32% (A) 23% (A) 50% (A) 48% (AB) 52% (A) 51% (A) 48% (AB) 40% (AB) 54% (AB) 47% (AB) 35% (A) 50% (AB) 40% (A) 34% (AB) Email newsletters Instagram Ratings or review sit Tech websites like CNET, etc. Bloggers/influencers/ independent experts TikTok Twitter Radio or TV Pinterest One-off (i.e., promotional) emails Outdoor billboards or signage Clubhouse (the audio- only app) % VERY LIKELY • When researching solutions for their businesses, SMBs are most likely to use search, regardless of size • After that, they are most likely to use word of mouth • Media usage generally increases with company size How likely are you to use each of these specific information sources to research and/or assess products or services for your business? Please select one response in each row. Clubhouse (the audio-only app) Outdoor billboards or signage
  • 16.
    AWARENESS VS. RESEARCHMEDIA • SMBs are most likely to use search to first learn about as well as to research products and services for their business • They use every medium more heavily for research than awareness – especially the vendor’s website 16 16 33% 19% 17% 15% 15% 14% 13% 13% 12% 12% 11% 10% 10% 10% 55% 30% 25% 34% 23% 24% 20% 23% 20% 30% 24% 19% 19% 14% Search (e.g., Bing, Google, Yahoo!) YouTube Business or general news sites Facebook LinkedIn Print publications (magazines, newspapers) Email newsletters Live events or trade shows Webinars/webcasts Product section of vendor’s website Niche sites, e.g., industry trade groups, Chambers of Commerce, etc. Tech websites like CNET, Spiceworks, etc. Ratings or review site (e.g., G2Crowd, Software Advice) One-off (i.e., promotional) emails First Learn Research and/or Assess 1 1 2 2 3 3 How likely are you to use each of these specific information sources to FIRST LEARN ABOUT/RESEARCH AND/OR ASSESS products or services for your business? Please select one response in each row. 10% 9% 9% 9% 9% 8% 8% 6% 5% 5% 4% 15% 26% 21% 24% 18% 16% 14% 20% 11% 9% 17% Radio or TV Resources section of a vendor’s website Postcard or catalog in the mail from vendors Forums or discussion boards Bloggers/influencers/ columnists Twitter Pinterest Instagram Outdoor billboards or signage Clubhouse (the audio- only app) TikTok 3 % VERY LIKELY
  • 17.
    INFLUENCERS • SMBs followa wide range of influencers • Dave Ramsay, Elon Musk, Mark Zuckerberg and Gary Vaynerchuk are top of mind 17 17 Which specific authors, bloggers, columnists, experts, podcasters, Twitter personalities, video bloggers etc. do you follow for business tips, advice and perspective, and/or to research or assess products and services for your business?
  • 18.
    MEDIA • As withinfluencers, SMBs rely on a wide range of media • Forbes, The Wall Street Journal, Bloomberg and C|NET are top-of-mind SMB media 18 18 What specific publications, newsletters, sites or blogs do you rely on for industry and/or general business news and advice, and/or to learn about products and services for your business?
  • 19.
    CONTENT FORMATS 23% 22% 22% 21% 21% 20% 19% 19% 19% 19% 18% 18% 18% 16% 15% 15% 13% 12% 43% (A) 34%(A) 37% (A) 39% (A) 41% (A) 37% (A) 36% (A) 39% (A) 35% (A) 33% (A) 41% (A) 33% (A) 32% (A) 29% (A) 35% (A) 33% (A) 31% (A) 33% (A) 49% (A) 49% (AB) 52% (AB) 49% (A) 55% (AB) 58% (AB) 55% (AB) 54% (AB) 44% (A) 51% (AB) 51% (A) 52% (AB) 43% (A) 48% (AB) 49% (AB) 44% (A) 45% (AB) 42% (A) Video on vendor’s website Article Facebook post Email newsletter LinkedIn post Research report Analyst report Webinar/webcast Checklist/worksheet Case study Interactive tool (e.g., calculator, quiz) e-book/guide/handbook Blog post Podcast White paper One-off email (for example from a sales rep) Infographic Tweet 19 How likely are you to use each of these specific content formats from vendors like Adobe, Amazon, Dell, Google, Intuit, LinkedIn, Microsoft, Salesforce, etc., to research or assess products or services for your business? VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n % VERY LIKELY 1 2 3 1 2 2 2 1 2 • To research products and services, VSBs and SBs most prefer video on your website; MBs, a research report • Other than LinkedIn posts, there is little overlap in preferences by company size • Like media usage, content usage generally increases with company size, especially for less-popular formats
  • 20.
    AWARENESS VS. RESEARCHCONTENT FORMATS 14% 13% 13% 11% 11% 10% 10% 10% 10% 9% 9% 9% 8% 8% 7% 6% 6% 4% 23% 22% 22% 19% 21% 15% 19% 20% 19% 20% 19% 23% 19% 15% 18% 17% 13% 14% Article Email newsletter Facebook post Webinar/webcast LinkedIn post One-off email (for example from a sales rep) Case study Research report e-book/guide/handbook Analyst report Checklist/worksheet Video on vendor’s website Interactive tool (e.g., calculator, quiz) White paper Blog post Podcast Tweet Infographic • In aggregate, articles are an effective content format at the top and middle of the sales funnel, as are email newsletters and Facebook posts 20 How likely are you to use each of these specific content formats from vendors like Adobe, Amazon, Dell, Google, Intuit, LinkedIn, Microsoft, Salesforce, etc., to FIRST LEARN ABOUT/RESEARCH OR ASSESS products or services for your business? % VERY LIKELY 1 2 3 1 1 3 First Learn Research or Assess Products
  • 21.
    TECHNOLOGY BENEFITS • SMBsvalue different benefits based on their size, and SBs and MBs generally value each benefit more than VSBs do • VSBs most value tech that improves their offerings; SBs, customer service; MBs, security, growth and productivity 21 When you are researching new technology/software at your company, how important are each of these factors or benefits? VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n % VERY IMPORTANT 63% 61% 60% 58% 54% 53% 52% 50% 47% 45% 44% 42% 41% 35% 33% 70% 68% 74% (A) 71% (AC) 68% (A) 65% (A) 73% (A) 54% 69% (A) 65% (A) 56% (A) 69% (A) 60% (A) 61% (A) 53% (A) 68% 69% 67% 56% 70% (A) 70% (A) 68% (A) 52% 70% (A) 63% (A) 62% (A) 66% (A) 65% (A) 58% (A) 56% (A) Improves our products and services Improves our capabilities/functionality Improves our customer service Lowers our overall business costs Improves our data security Helps us take advantage of growth opportunities Improves our competitiveness Lowest-cost solution Improves employee productivity Helps us keep up with changes in customer, etc., use of technology Improves our “anywhere, anytime” access to apps, data and documents Improves our compliance with government/industry regulations Improves our analytics/budgeting/reporting Lowers our IT costs Current solution is dated/reaching “end of life” 1 2 3 1 2 3 1 1 1
  • 22.
    RESEARCH ROLE Principal 78% Principal 47% Principal 40% Principal 83% Principal 52% Principal 38% Principal 86% Principal 53% Principal 40% Headof finance, 5% Head of finance, 20% Head of HR 19% Head of HR 32% CPA 7% CPA 16% CPA 5% Head of IT 12% Head of IT 20% Peers/colleagues 5% Peers/colleagues 5% Attorney 5% Business banker 6% Business partner(s) 5% Head of operations 6% Office manager 5% Other employees 6% Other employees 5% VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n • SMB principals see themselves as most likely to be the primary researcher for every surveyed application • The bigger the company, though, the more likely that other roles lead the research 22 Who is the primary person who researches and/or assesses products or services for your business, for each of these categories? 50% Accounting/financial applications Hiring services/HR applications Internet access/ telecoms/VoIP service
  • 23.
    RESEARCH ROLE (CONTINUED) Principal 77% Principal 48%Principal 39% Principal 82% Principal 46% Principal 41% Principal 82% Principal 54% Principal 45% Head of finance 5% Head of finance 10% Head of IT 22% Head of IT 27% Head of IT 5% Peers/colleagues 5% Board/investors 5% Business banker 5% Business partner(s) 7% Head of marketing 13% Head of marketing 23% Head of sales 5% IT consultant/MSP 10% Other employees 5% Other employees 6% Other employees 12% Other employees 7% Other employees 6% Other employees 7% Other consultancies 5% VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n • Not surprisingly, the second-most important role tends to be function-relevant, i.e., the financial head leads research for financial apps, the HR head leads research for HR apps, the IT head leads research for IT-related products 23 Who is the primary person who researches and/or assesses products or services for your business, for each of these categories? 50% IT/data security solutions Marketing/customer service applications Merchant processing/payments
  • 24.
    RESEARCH ROLE (CONTINUED) Principal 86% Principal 58%Principal 51% Principal 82% Principal 58% Principal 50% Principal 83% Principal 51% Principal 44% Head of IT 11% Head of IT 14% Head of IT 7% Head of IT 11% Peers/colleagues 5% Attorney 5% Board/investors 5% Business partner(s) 5% Business partner(s) 5% Business partner(s) 5% Business partner(s) 7% Head of operations 5% Head of operations 9% IT consultant/MSP 5% IT consultant/MSP 6% Office manager 6% Office manager 7% Other employees 7% Other employees 7% Other employees 6% Other employees 7% Other consultancies 5% VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n VSBs 1-19 250n SBs 20-99 150n MBs 100-500 100n VSBs 1-19 250n SBs 20-99 150n MBs 100-500 100n • The solutions with the most roles involved (for SBs and MBs) are merchant processing, PCs, telecoms and videoconferencing 24 Who is the primary person who researches and/or assesses products or services for your business, for each of these categories? 50% PCs/laptops/ desktop computers Productivity applications Videoconferencing software
  • 25.
    WORKING WITH ASALESPERSON 25 Which of these best describes how you prefer to work with a salesperson when you are researching a product or service for your business? VSBs (A) 1-19 250n SBs (B) 20-99 150n MBs (C) 100-500 100n 45% 38% 15% 2% We prefer to conduct all research ourselves We do most research ourselves, but are open to a salesperson answering questions We like to have a salesperson help us understand a product or service, but we supplement that with our own research We rely pretty much exclusively on a salesperson to help us understand everything about a product or service; we do little or no additional research 46% (BC) 38% 14% 2% 29% 43% 23% (A) 4% 33% 37% 23% 7% (A) • At the research stage, VSBs are much more likely than SBs or MBs to want to conduct research themselves — i.e., not to want to be contacted by a salesperson • However, many SMBs of all sizes want the support of a salesperson, so be sure to enable self-help and sales support
  • 26.
    Research • Product /go-to-market strategy / CE / NPS • Persona / buyer journey • Original data for standout content and PR Strategy • Content strategy • Creative brief / ed cal Content • Original content development • Exclusive SMB focus HOW BREDIN CAN HELP Stu Richards, CEO stu@bredin.com Work with the experts in SMB insight and engagement 26
  • 27.
    POLL 27 27 Would you liketo discuss SMB research and/or content support with Bredin? O Yes O No
  • 28.