How SMBs Decide What to Buy

Our latest survey of 500 SMB principals reveals that CFOs, financial advisors, and vendor resources are key when SMBs are ready to buy. Here are highlights:

‍CFOs are a crucial voice. SMBs that have a CFO see them as an essential resource when making a final purchase decision. In fact, SMBs of all sizes rate CFOs the single most important source of purchase advice.

‍Financial advisors are also important. Business bankers and financial advisors rank among the top three resources for all size groups. Small businesses (SBs, with 20-99 employees) place them second, and both very small businesses (VSBs, with 1-19 employees) and midsized businesses (MBs, with 100-500 employees) rank them third.

‍Vendors play a critical role. Vendor sales representatives are tied for second among SBs, and are fifth for MBs. VSBs rank the product pages of vendor and reseller websites fourth. MBs cite the resource sections of vendor sites fourth.

‍CPAs influence larger SMBs. Larger SMBs consider CPAs as an important resource during the purchase stage: SBs rank them fifth; MBs, second.  

‍Search matters. Search is not quite as important at the purchase stage as it is for awareness and research, but it’s still key: VSBs rank it fifth; SBs, fourth.

‍Interactive tools help the smallest SMBs. VSBs rate interactive resources, such as calculators or configurators, second.

Top SMB Information Sources at the Purchase Stage of the Sales Cycle

Wondering what SMBs are thinking, doing, and planning? Bredin’s can provide answers. With an exclusive focus on the SMB market and decades of market research experience, Bredin delivers uniquely valuable and actionable custom and omnibus market research. Contact us to learn how we can support your visibility, product, content, PR, social, and sales goals.