Bredin’s recent SMB Pulse research reveals that SMBs with 20 to 500 employees rate advice from their bank much more highly than those with fewer than 20 employees (very small businesses, or VSBs). Larger SMBs are five times more likely than their smaller peers to even be aware that their bank provides business management advice.
Businesses with 20 to 99 employees (small businesses, or SBs) and those with 100 to 500 employees (midsized businesses, or MBs) also place the most importance on business management advice from their bank. Seventy-six percent of SBs and fully 85% of MBs say their bank’s advice is very or extremely important, compared to only 41% of VSBs.
Bredin research has repeatedly found that providing relevant, actionable business management advice — especially articles, video and research reports — can boost SMB acquisition, satisfaction and loyalty. For VSBs in particular, there is a huge opportunity to better promote the content you provide, and to boost the quality of the content you provide them.