Selling to the midmarket CIO will not work. They’re looking for business partners.
Midmarket companies’ business models these days seem to be like living in an incredibly beautiful, but economically challenging locale like the Florida Keys: in order to succeed, one must be either highly specialized or highly diversified.
According to the National Center for the Middle Market, the majority of companies are planning additional capital investments for 2017 with more than a fifth of them slated for growth through acquisitions.
Middle market company structures are as diverse as the industry verticals in this powerful sector of the US and global economy. From a home building products supplier comprised of four separate companies in North Carolina to an Arizona-based transportation services company that includes a trucking company, international dealership, multiple third party logistics organizations, a race track, golf course, employee leasing company and real estate holdings, these organizations are angling daily to leverage the buying power of their often complex structures.
Vendors combing databases and employing entry-level college grads to bang the phones and compose email blasts will never successfully forge a partnership with these powerful players in the technology space – no matter how successful or innovative the product or service may be.
As Thomas Stewart, Executive Director at the National Center for the Middle Market wrote in his assessment of how midmarket companies will tackle cyber defense in 2017: “You cannot take approaches designed for a Fortune 500 behemoth, lop off a couple of zeros, and present them to a middle market firm.”