Choosing the Appropriate Target Market
When a company is ready to start marketing a product, the marketing team must choose the appropriate target market. It can be helpful to put together a list of companies to market your product to.
However, these lists require a lot of time and exhaustive research. Luckily, there are business-to-business directory lists available online that are easy to use. Directories contain names of companies, contact information, and more.
Who To Market To?
The first step a marketing team should do is reference a business-to-business directory to find someone to market to. Choosing the right company is crucial to things running smoothly.
Scott’s Info has B2B directories that cover B2B companies in Canada. Scott’s Info B2B directories include business size, which companies can use to determine who they should market to.
There are pros and cons to each business size, which are broken down below.
1. Fortune-500 Companies
Fortune-500 companies are the big businesses that rake in a ton of money. Selling to these companies will generate major revenue, will help smaller businesses gain credibility and prestige, and may offer expertise others can’t.
There are some cons to working with these companies. Deals are difficult to close, sales are complex due to stakeholders, and they require industry connection and networking. If a company can close a deal with one of these companies, the returns will outweigh the cons.
2. Medium-sized Businesses
These businesses are similar to the aforementioned, but on a smaller scale. There are also millions of medium-sized businesses in Canada, so companies are likely to land a few B2B deals. These companies do millions in revenue each year but are a step below Fortune-500 companies.
Medium-sized businesses are harder to define, which means they are harder to find. However, using a B2B directory will make finding medium-sized businesses easier.
3. Small-sized Businesses
Small businesses are businesses like T-shirt shops, restaurants, coffee shops, small outlet stores, and more. Small businesses usually have less than 100 employees and are run by the owner. Selling to small businesses means there is a large pool of customers. Completing a deal is easier because there are no middlemen; business owners usually make buying decisions. Customers of small businesses are more likely to talk about a product they found, driving more customers to visit.
One downside to working with a small business is they are not as popular as well-known companies. Their name and logo won’t generate as much recognition as a chain store or restaurant. Transaction size is also smaller.
Find Business-to-Business Directories Today
If you need to find Canadian local business directories, visit Scott’s Info today. Their comprehensive directories list B2B companies in Canada that can be city-specific.