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In a recent UK study of more that 750 senior decision makers, Prospex.ai provides granular insight regarding the degree to which larger (those with 250+ employees) and smaller firms (1-9 employees) employ social media and lead generation tactics effectively.
Key Insights from the Study:
- Generating leads is a bigger issue for larger firms. 74% of larger firms indicated that generating leads is one of the biggest challenges their businesses face. This contrasts with the less than half (49%) of small firms who indicated that lead gen was a top challenge.
- Larger companies tend to be more active in using social media platforms to understand consumers. 76% of larger firms use social media platforms to profile potential customers. In contrast, only 47% of small firms do so.
- Larger companies (51%) tend to rely on cold calling to a greater degree than do small companies (15%).
- In contrast, smaller companies (70%) tend to be slightly more active in using social media platforms to promote, market and/or sell products/services than do larger companies (67%).
- Smaller companies (22%) also tend to send generic, non-personalized emails to their entire database less often than do large companies (69%).
- With regard to more sophisticated tactics, large companies tend to be actively engaged. Large companies (63%) are more likely to use AI to find or market to potential leads, while only 9% of smaller firms do so. Consistently, 86% of large firms use advanced data analytics software to help personalize the way that firms market/sell to potential leads; only 13% of small firms do.
- Despite larger companies being more engaged is newer technologies, 56% of decision makers from large firms believe that their businesses are outdated in the way that they market/sell to potential customers. This contrasts with only 31% of decision makers in small firms. And 65% of those in large firms believe that their business needs to invest in new marketing and sales technology while only 40% of those in small firms believe that this is a priority.
- Although larger firms indicated a greater need to invest in new technologies, 60% of decision makers in large firms also suggested that they don’t have the budget to invest in new technologies and 58% don’t believe that they have the culture or skills to embrace new technologies. Among small firms, 47% believe that they don’t have the budgets and 40% believe that they don’t have the culture to invest in or embrace new technologies.
In general, small firms tend to lag the larger companies in adopting and leveraging new technologies to drive lead generation and growth. However, it appears that the smaller firms don’t have as many challenges generating the leads that they need to drive growth.
Join the Conversation: @KimWhitler
About Prospex.ai: Prospex.ai is a lead generation tool to support the needs of sales and marketing (SaM) professionals.
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Differences in Lead Generation Tactics Between Small And Large Companies According to New Study - Forbes
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