To find out, we recently surveyed over 300 U.S. SMB principals. The results are instructive; there are some great learnings on how SMBs define peers; when they rely on peers most; how (and how often) they engage with their peers; and how companies can provide SMBs with peer advice. There are also new learnings on how SMBs think about influencers; which topics they are most likely to turn to influencers for advice; which influencers are top of mind; and the effect on your brand perception, purchase intent and loyalty of providing advice from peers and influencers.

1. Selling to SMBs via Peers and
Influencers
October 20, 2016
Bredin, Inc.
www.bredin.com
617-674-7882

2. Content Marketing  Market Research
Increasing SMB Acquisition, Engagement and Retention
2

3. 3
Research Objective
Help marketers better understand how to sell to
SMBs via peers and influencers
• SMB business outlook and challenges
• The role of peers at the awareness, research and
purchase stages of the sales cycle
• How SMBs value peer versus other kinds of advice
• Peer advice preferences: formats and topics
• How SMBs engage with their peers
• Who presents peer and influencer advice well
• The effect of peer and influencer advice on brand
perception and sales

4. Methodology
How
• 15-minute online survey via the Bredin.com/smbpulse
Who
• 318 principals of U.S. companies with <500 employees (5.5%+/- CI)
• 117 with <20 employees (97.7% weighting)
• 100 with 20-99 employees (1.9% weighting)
• 101 with 100-500 employees (.3% weighting)
• Any industry
• See slides 36-40 for participant demographics
When
• September 21 – 26, 2016
1
2
3
4

5. Detailed Results

6. 6
SMBs are most likely to become aware
of new products and services for heir
business via their peers…
Awareness
n=318
Top-two box
On a scale of 1 (very unlikely) to 5 (very
likely), please rate how likely you are to first
learn about products or services for your
business via each of these specific sources /
formats.
0% 10% 20% 30% 40% 50%
Instagram
Twitter
Pinterest
eBook / guide / handbook
Infographic
Blog
Analyst report
Audio podcast
Banner / display ad
Outdoor billboard or signage
Radio
Interactive tool
LinkedIn
White paper
Case study
YouTube
Research report
External / third-party consultant
Facebook
Forum or discussion board
Webinar / webcast
TV
Video on vendor’s website
One-off email
Press release
In-house staff
Newspaper / magazine (print or online)
Postcard, letter or catalog in the mail
Resources section of a vendor’s website
Online review
Print newsletter
Event or trade show
Call or meeting with vendor sales representative
Email newsletter
Product section of vendor’s website
Peer / colleague

7. 7
…and to research those offerings
via search, and their peers…
Research
n=318
Top-two box
On a scale of 1 (very unlikely) to 5 (very
likely), please rate how likely you are to use
each of these sources / formats when you
are researching products or services for
your business.
0% 10% 20% 30% 40% 50%
Instagram
Infographic
Twitter
Pinterest
Radio
Outdoor billboard or signage
Forum or discussion board
One-off email
Audio podcast
Case study
Facebook
Banner / display ad
Blog
Press release
Analyst report
LinkedIn
Interactive tool
External / third-party consultant
YouTube
White paper
eBook / guide / handbook
TV
Research report
Webinar / webcast
In-house staff
Video on vendor’s website
Email newsletter
Postcard, letter or catalog in the mail
Print newsletter
Newspaper / magazine (print or online)
Call or meeting with a vendor sales representative
Online review
Event or trade show
Product section of a vendor’s website
Resources section of a vendor’s website
Peer / colleague
Search

8. 8
…and to make a final purchase
decision based on advice from
their peers
Purchase
n=318
Top-two box
On a scale of 1 (very unlikely) to 5 (very
likely), please rate how likely you are to
use each of these sources / formats to
make a purchase decision on products
or services for your business.
0% 10% 20% 30% 40% 50%
Blog
Instagram
Press release
Pinterest
Radio
Audio podcast
LinkedIn
Twitter
Infographic
eBook / guide / handbook
Analyst report
Outdoor billboard or signage
Banner / display ad
White paper
Interactive tool
Facebook
YouTube
One-off email
Print newsletter
Research report
Forum or discussion board
Case study
Postcard, letter or catalog in the mail
External / third-party consultant
TV
Email newsletter
Video on vendor’s website
Webinar / webcast
Newspaper / magazine (print or online)
In-house staff
Product section of vendor’s website
Call or meeting with vendor sales representative
Event or trade show
Online review
Resources section of vendor’s website
Search
Peer / colleague

9. SMB Purchase Process Map
Event or trade show
Call or meeting with
vendor sales
representative
Email newsletter
Product section of
vendor’s website
Peer / colleague
Product
Awareness
Event or trade show
Product section of a
vendor’s website
Resources section of a
vendor’s website
Peer / colleague
Search
Product Research
Event or trade show
Online review
Resources section of
vendor’s website
Search
Peer / colleague
Purchase
Decision
Print newsletter Online review
Call or meeting with
vendor sales
representative
9

10. 10
SMBs have a variety of definitions of “peer”…
Defining Peers
n=218
In your own words, as a principal of a small or mid-sized business, how would you define a
peer?

11. 11
…but they define “peers” first and foremost as someone in their industry
Defining Peers, continued
n=318
Top-two box
Please rate each of these statements on a scale of 1 (strongly disagree) to 5 (strongly agree):
0% 10% 20% 30% 40% 50% 60% 70% 80%
A peer is a CEO of a large business
A peer is a journalist or blogger who writes about small / mid-sized
business or business management
A peer is an analyst or academic who studies business and
management
A peer is a friend or colleague who works at another company, but
is not an owner or principal
I trust the advice of peers in online forums / discussion boards
A peer is a fellow owner or principal of a small or mid-sized
business
A peer is someone who runs a business the same size as mine
A peer is someone who runs a business in the same industry as
mine

12. 12
Larger SMBs have a more expansive definition of ‘peer’…
Defining Peers: Company Size
n=318
Top-two box
unweighted
Please rate each of these statements on a scale of 1 (strongly disagree) to 5 (strongly agree):
0% 10% 20% 30% 40% 50% 60% 70% 80%
A peer is a CEO of a large business
A peer is a journalist or blogger who writes about small / mid-sized
business or business management
A peer is an analyst or academic who studies business and
management
A peer is a friend or colleague who works at another company, but
is not an owner or principal
I trust the advice of peers in online forums / discussion boards
A peer is a fellow owner or principal of a small or mid-sized
business
A peer is someone who runs a business the same size as mine
A peer is someone who runs a business in the same industry as
mine
1-19 20-99 100-500

13. 13
…as do Millennials
Defining Peers: Respondent Age
n=318
Top-two box
Please rate each of these statements on a scale of 1 (strongly disagree) to 5 (strongly agree):
0% 10% 20% 30% 40% 50% 60% 70% 80%
A peer is a CEO of a large business
A peer is a journalist or blogger who writes about small / mid-sized
business or business management
A peer is an analyst or academic who studies business and
management
A peer is a friend or colleague who works at another company, but
is not an owner or principal
I trust the advice of peers in online forums / discussion boards
A peer is a fellow owner or principal of a small or mid-sized
business
A peer is someone who runs a business the same size as mine
A peer is someone who runs a business in the same industry as
mine
18-34 35-49 50+

14. 14
SMBs are most likely to seek peer advice at the awareness stage
When SMBs Seek Peer Advice
n=314
Top-two
Please rank-order these times when you rely on the knowledge or advice of your peers,
from most likely (top) to least likely (bottom):
0% 10% 20% 30% 40% 50% 60% 70% 80%
To make a final purchase decision on products and services for
my business
To get advice or perspective on business management
challenges, like hiring, business development or managing cash
flow
To evaluate products and services for my business
To first learn about products and services for my business

15. 15
SMBs are most likely to get peer advice in person, for example over lunch or drinks
How SMBs Seek Peer Advice
n=318
Top-two box
On a scale of 1 (very unlikely / not often) to 5 (very likely / often), please rate each of these
ways that you get knowledge and advice from your peers:
0% 10% 20% 30% 40% 50% 60% 70%
A social network other than LinkedIn
LinkedIn
Peer forums / discussion boards
Networking or other events, including trade shows
Email
Phone call
In person

16. 16
Larger SMBs are more reliant on their peers
How SMBs Seek Peer Advice: Company Size
n=318
Top-two box
unweighted
On a scale of 1 (very unlikely / not often) to 5 (very likely / often), please rate each of these
ways that you get knowledge and advice from your peers:
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
A social network other than LinkedIn
LinkedIn
Peer forums / discussion boards
Networking or other events, including trade shows
Email
Phone call
In person
1-19 20-99 100-500

17. 17
Millennials are more likely to get peer advice online
How SMBs Seek Peer Advice: Respondent Age
n=318
Top-two box
On a scale of 1 (very unlikely / not often) to 5 (very likely / often), please rate each of these
ways that you get knowledge and advice from your peers:
0% 10% 20% 30% 40% 50% 60% 70% 80%
A social network other than LinkedIn
LinkedIn
Peer forums / discussion boards
Networking or other events, including trade shows
Email
Phone call
In person
18-34 35-49 50+

18. 18
SMBs get peer advice in a variety of ways
How SMBs Seek Peer Advice: In Their Own Words
n=58
Is there another way that you get knowledge and advice from your peers on products,
services or management advice for your business?

19. 19
Microsoft and Google are perceived as providing peer advice well
Showcasing Peer Advice: Who’s Doing it Well
n=124
Which companies do a particularly good job of providing access to or advice from your
peers?

20. 20
Most SMBs don’t have a formal or structured way to get peer advice
Formal Peer Advice
Please select yes or no: (% yes)
0% 5% 10% 15% 20% 25% 30% 35% 40%
Have you used a SCORE
mentor?
Do you have a peer advisory
board for your company?
Do you belong to a formal or
informal peer advisory group?
Have you gone to business
owner networking events?

21. 0% 10% 20% 30% 40% 50% 60% 70% 80%
Have you used a SCORE mentor?
Do you have a peer advisory board
for your company?
Do you belong to a formal or
informal peer advisory group?
Have you gone to business owner
networking events?
1-19 20-99 100-50021
Larger SMBs are much more likely to use structured peer advice…
Formal Peer Advice: Company Size
Please select yes or no: (% yes)
n=varies
unweighted

22. 0% 10% 20% 30% 40% 50% 60%
Have you used a SCORE
mentor?
Do you have a peer advisory
board for your company?
Do you belong to a formal or
informal peer advisory group?
Have you gone to business owner
networking events?
18-34 35-49 50+22
…as are Millennials
Formal Peer Advice: Respondent Age
Please select yes or no: (% yes)
n=varies

23. 23
SMBs are most likely to seek industry and product information from their peers
Peer Advice: Topics
n=318
Top-two box
On a scale of 1 (never) to 5 (very often), how often do you seek advice from your peers on
the following topics?
0% 10% 20% 30% 40%
Import / export
Hiring, compensation and people management
Time management / productivity
Financial planning and management
Leadership and strategy
Operations
Business development / sales and marketing
Law and taxes
Technology
Products and services for my business
Industry news and trends

24. Content Marketing Topics
24 n=312
Top-two box
On a scale of 1 (never) to 5 (very often), how often do you go online to find content on the
following topics to help you manage and grow your business?
SMBs are most interested in marketing content on technology, and their industry
0% 5% 10% 15% 20% 25% 30% 35%
Import / export
Human resources
Leadership and management
Law and taxes
Financial planning and management
Operations
Sales and marketing
Industry news and trends
Technology

25. 25
SMBs mostly seek ‘influencer’ advice on products, and law and taxes
‘Influencer’ Topics
n=317
Top-two box
On a scale of 1 (never) to 5 (very often), how often do you seek advice – for example by
reading articles or blog posts - from independent business experts on the following topics?
0% 10% 20% 30% 40%
Import / export
Time management / productivity
Hiring, compensation and people management
Operations
Leadership and strategy
Financial planning and management
Business development / sales and marketing
Industry news and trends
Technology
Law and taxes
Products and services for my business

26. 26
SMBs rate peer advice the highest of any source
Advice Quality
n=318
Top-two box
On a scale of 1 (not at all valuable) to 5 (extremely valuable), please rate the general quality
or value of the business management advice you get from:
0% 10% 20% 30% 40%
Independent bloggers, authors or experts in small and mid-sized
business management, your industry or other business management
topics
Colleges or universities, such as business schools
Government entities, such as the SBA or SCORE
Companies that provide online resources and advice, like the American
Express OPEN Forum or Intuit Small Business Blog
Your IT consultant
Your attorney
Your spouse
Your business partner(s)
Your CPA
Your peers

27. 27
Marketers can best present peer advice via meetings, and bylined marketing content
Presenting Peer Advice
n=318
Top-two box
On a scale of 1 (not at all useful / don’t want) to 5 (very useful / want very much), please rate
each of these ways that companies such as your bank, American Express, Dell, Google,
Intuit or Microsoft can provide access to or advice from your peers:
0% 10% 20% 30%
Presenting the results of surveys of your peers
Hosting online forums / discussion boards
Offering case studies explaining how companies use their
products or services
Enabling email or online chat with “reference customers” about
how they use the company’s products or services
Presenting articles or other types of content written by your
peers
Providing in-person meetups / networking events

28. 28
SMBs have a fair degree of trust in ‘influencers’…
‘Influencers:’ Attitude and Usage
Please indicate whether you: (% yes)
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Visit the sites or blogs of
independent business experts
frequently:
Have clicked on a banner ad on
the site or blog of an
independent business expert for
products or services for your
business:
Trust independent business
experts for advice on products
and services for your business
Trust independent business
experts for advice on products
and services for your business

29. Content Attributes
29 n=302
Top-two box
On a scale of 1 (not at all important) to 5 (very important), please rate the importance of
each of these aspects of marketing content:
…but they mostly want content that is easy to understand
0% 10% 20% 30% 40% 50% 60% 70% 80%
Written for someone with my title / role
Compelling / attractive design
Educates me on why to take action, e.g. to buy new
technology
Educates me about business needs and challenges, e.g.
how to get more customers / clients
Written for a company of my size
Written by an expert
Contains interesting facts / anecdotes
Written for someone in my industry
In a format I prefer
Easy to understand

30. 30
Microsoft and Google are also perceived as providing influencer advice well
Showcasing Influencers: Who’s Doing it Well
n=96
Which, if any, companies do a particularly good job of providing advice from independent
business experts?

31. 31
SMBs have a variety of format and topic suggestions for marketers
Showcasing Influencers: Suggestions for Improvement
n=74
How could companies such as your bank, American Express, Dell, Google, Intuit or
Microsoft do a better job of providing advice from independent business experts?

32. 32
Roughly three in five SMBs agree that peer and influencer content boosts purchase propensity
The Effect of Peer and Influencer Content
Please indicate whether you agree with each statement: (% yes)
0% 10% 20% 30% 40% 50% 60% 70%
I am more likely to remain a customer of
companies that provide advice from
independent business experts
I am more likely to do business with companies
that provide advice from independent business
experts
I feel more positively about companies that
provide advice from independent business
experts
I am more likely to remain a customer of
companies that give me access to or advice
from my peers
I am more likely to do business with companies
that give me access to or advice from my peers
I feel more positively about companies that
give me access to or advice from my peers
Peers
Influencers
n=315
n=316
n=315
n=316
n=315
n=317

33. Peer Marketing Best Practices: 7 Tips
Focus your topics on your brand domain
Use peers for both advice and testimonials
Provide industry- (and size-) specific advice
Sponsor meetups / networking events
Post peer content on your resource center; promote via email and
social
Provide peer surveys
Focus on content quality
1
2
3
4
5
6
7
33

34. For More Information
34
Stu Richards, CEO
stu@bredin.com
Twitter: @BredinInc
✔
✔
✔ Email me for a copy of this report
Get the full report at bit.ly/2e4sje3
Join me for our next Fastcast, Selling to SMBs via Events, at 1pmE
on Thursday November 17

35. Sample Characteristics

36. Sample Characteristics
Owner, Founder, Manager, Partner, CxO, etc.
100%Title Principal
36
Industry
PS: Educational services, Finance & insurance, Health care
& social assistance, Information technology, Management of
companies & enterprises, Professional services
RW: Accommodation & food service, Arts, Entertainment &
recreation, Real estate, rental & leasing, Retail trade,
Transportation & warehousing, Wholesale Trade
M: Construction, Manufacturing, Mining, Scientific &
technical services, Utilities
Other: Administrative, support, waste management &
remediation service, Other services (except public
administration)
n=318
n=318
40%
33%
18%
10%

37. 54%
46% Male
Female
29%
36%
35%
18-34
35-49
50+
37
Age
Gender
n=318
n=312
Sample Characteristics

38. 25%
33%
43%
0 to 5 Years
6 to 10 Years
More than 10 years
37%
31%
32% 1-19 Employees
20-99 Employees
100-500 Employees
38
Company Size
Years in Business
n=318
n=313
Sample Characteristics

39. 40%
29%
23%
4% 3%
Up by 10% or more
Up, by less than 10%
Same as 2015
Down, by less than 10%
Down by 10% or more
39
2016 Revenue Growth
n=316
2015 Revenue
34%
19%
47%
Less than $500k
$500k to $999k
$1M+
n=318
Sample Characteristics

40. 40
Region
n=317
Midwest
18%
West
20%
South
39%
Northeast
23%
Sample Characteristics

41. Thank You