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How SMBs in Europe are
embracing social media
Who did we survey?
1,390 Decision-Makers
in Small and Medium Businesses
(SMBs) in the U.K., NL, FR,
Austria, Switzerland, Germany,
Denmark, Spain, France, Norway,
Sweden
How are SMBs defined?
Businesses with:
• Less than 500 employees
• Less than €5M EUR (or
country currency equivalent)
annual revenue
This report explores how Small and Medium Businesses (SMBs)
in Europe make use of social media.
SMBs in Europe are growing
…and are using Social Media
69%
64%
have an increased number of
customers
have increased overall
revenue
have increased overall
profitability58%
4
SMBs in Europe are experiencing widespread year-on-year growth
HYPER-GROWTH
Significant increase in overall
revenue compared to last year
5
14% of SMBs report that they are currently
in a hyper-growth phase
14%
50%
36%
GROWTH
Increase in overall revenue
compared to last year
NON-GROWTH
No change or decrease in overall
revenue compared to last year
6
Almost all SMBs surveyed use Social Media for their business…
91% of SMBs
are Current
Users of
Social Media
5% are Future
Users
7
91%
66%
63%
43%
35%
15% 14%
LinkedIn Twitter Facebook YouTube Google+ Instagram Pinterest
and LinkedIn is the #1 Social Media site used by the companies
of the individual SMB professionals surveyed
SMBs see Social Media as a key way
to meet their business challenges
9
SMBs were 2X as likely to report that Social Media and social ads
contributed to customer growth, compared to other online ads
35%
25%
17%
14%
7% 7%
Contributed to growth in
customer numbers
Contributed to growth in
overall revenue
Social media and social ads
Other online ads
Offline ads
10
Growing SMBs were significantly more likely to plan to increase
their Social Media spend in the next 12 months
53%
51%
47%
42%
Increased Social Media
spend this year
Plan to increase Social Media
spend next year
Growth SMBs
Non-growth SMBs
3 in 4
of all SMBs that
increased social
media spend this
year, planned to
increase spend
again next year
11
Top challenges currently faced by SMBs relate to generating
business, boosting profit margins and hiring
22%
30%
30%
31%
66%
Managing cash flow
Finding and hiring good employees
Increasing profit margins
Marketing and advertising effectively
Attracting new / retaining current customers
12
Social media is helping SMBs overcome
some of their key challenges
“Social media is important
for retaining/getting new
customers”
“Social media is important for
marketing my company”
79%
68%
Social media helps my
company source and hire
new employees
56%
SMBs are looking for financial
information on Social Media
14
have used LinkedIn for
financial purposes
40%44%
are already using Social
Media for at least one
financial purpose
15
SMBs can be reached at each stage of their decision
making journey on LinkedIn
2%
2%
7%
8%
10%
12%
22%
12%
19%
Purchased an investment product
Purchased an insurance product
Asked a financial professional for additional info about a
financial product / policy / account type
Discussed a financial product / policy or account type
with a family member, friend, or colleague
Contacted a financial representative
Conducted additional research on a financial product
Shared info about financial trends/products/companies
Learned of a financial product was not aware of
Learned about a financial company was not aware of
Awareness
Consideration
Purchase
SMBs will be most engaged by do-it-yourself content, as well as
innovation news and peer or expert reviews
16
Top 6 Impactful Types of Financial services Content
1
Best practices,
How-To-guides and
checklists
2
New innovation and
technology developments
3
Expert ratings, reviews or
testimonials
6
Market and economic
commentary
4
Customer stories and
case studies
5
Peer ratings, reviews or
testimonials
17
Top Trending Topics among Manager+ in SMBs in Europe
10 real-world tips for building
relationships and closing more
on LinkedIn
Recruitment Success Kit:
15 tips for 2015
Make it Matter – Security,
Mobility, Cloud, Big Data
Solutions
Warren Buffett Just Wrote His
Best Annual Letter Ever
– Bill Gates
Why you should hire a
French person
Six Secrets to Success at Work
– Jack Welch
3 month time-frame. LinkedIn: Feb 24th – May 24th
18
Customer service and reputation feature highly as factors to
consider when choosing a financial services company
Top 3
Consideration Factors
3. Brand & Reputation48%
2. Customer Service54%
1. Charges and rates57%
Transparency and clarity as well as direct experience with a
provider, are key to increasing the confidence of SMBs
6%
62%
31%
Confidence in the Financial Service
industry in the past 12 months
Increased confidence
Stayed the same
Decreased confidence
12%
12%
19%
37%
48%
53%
66%
Visibility of employees
Press coverage
Conversations with friends / family / colleagues
Responding quickly to enquiries
Personal experience dealing with a provider
Clear explanations of products and services
Transparency of price and terms / conditions
Factors that would increase confidence in the Financial Service industry
Key findings Implications for marketers
Almost all SMBs in Europe use
social media
An active presence on LinkedIn is
crucial for successful marketing and
customer acquisition
SMBs can be reached on LinkedIn at
each stage of their financial decision
making journey
Tap into vast pools of potential
customers by providing them an avenue
to share information about your brand
and products
Clear content related to financial products
and services and better customer
service are things SMBs look for in
financial service brands
Use LinkedIn to disseminate
information about financial products
and services, customer service and to
build confidence
1
2
3
Key findings Implications for marketers
Almost all SMBs in France use
social media
An active presence on LinkedIn is
crucial for successful marketing and
customer acquisition
Tap into vast pools of potential
customers by providing them an avenue
to share information about your brand
and products
Use LinkedIn to disseminate
information about financial products
and services, customer service, and to
build confidence
Contact us at https://lnkd.in/contact_us.

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How SMBs in the Middle East are embracing social media [2015 Research]

  • 1. How SMBs in Europe are embracing social media
  • 2. Who did we survey? 1,390 Decision-Makers in Small and Medium Businesses (SMBs) in the U.K., NL, FR, Austria, Switzerland, Germany, Denmark, Spain, France, Norway, Sweden How are SMBs defined? Businesses with: • Less than 500 employees • Less than €5M EUR (or country currency equivalent) annual revenue This report explores how Small and Medium Businesses (SMBs) in Europe make use of social media.
  • 3. SMBs in Europe are growing …and are using Social Media
  • 4. 69% 64% have an increased number of customers have increased overall revenue have increased overall profitability58% 4 SMBs in Europe are experiencing widespread year-on-year growth
  • 5. HYPER-GROWTH Significant increase in overall revenue compared to last year 5 14% of SMBs report that they are currently in a hyper-growth phase 14% 50% 36% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year
  • 6. 6 Almost all SMBs surveyed use Social Media for their business… 91% of SMBs are Current Users of Social Media 5% are Future Users
  • 7. 7 91% 66% 63% 43% 35% 15% 14% LinkedIn Twitter Facebook YouTube Google+ Instagram Pinterest and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed
  • 8. SMBs see Social Media as a key way to meet their business challenges
  • 9. 9 SMBs were 2X as likely to report that Social Media and social ads contributed to customer growth, compared to other online ads 35% 25% 17% 14% 7% 7% Contributed to growth in customer numbers Contributed to growth in overall revenue Social media and social ads Other online ads Offline ads
  • 10. 10 Growing SMBs were significantly more likely to plan to increase their Social Media spend in the next 12 months 53% 51% 47% 42% Increased Social Media spend this year Plan to increase Social Media spend next year Growth SMBs Non-growth SMBs 3 in 4 of all SMBs that increased social media spend this year, planned to increase spend again next year
  • 11. 11 Top challenges currently faced by SMBs relate to generating business, boosting profit margins and hiring 22% 30% 30% 31% 66% Managing cash flow Finding and hiring good employees Increasing profit margins Marketing and advertising effectively Attracting new / retaining current customers
  • 12. 12 Social media is helping SMBs overcome some of their key challenges “Social media is important for retaining/getting new customers” “Social media is important for marketing my company” 79% 68% Social media helps my company source and hire new employees 56%
  • 13. SMBs are looking for financial information on Social Media
  • 14. 14 have used LinkedIn for financial purposes 40%44% are already using Social Media for at least one financial purpose
  • 15. 15 SMBs can be reached at each stage of their decision making journey on LinkedIn 2% 2% 7% 8% 10% 12% 22% 12% 19% Purchased an investment product Purchased an insurance product Asked a financial professional for additional info about a financial product / policy / account type Discussed a financial product / policy or account type with a family member, friend, or colleague Contacted a financial representative Conducted additional research on a financial product Shared info about financial trends/products/companies Learned of a financial product was not aware of Learned about a financial company was not aware of Awareness Consideration Purchase
  • 16. SMBs will be most engaged by do-it-yourself content, as well as innovation news and peer or expert reviews 16 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 New innovation and technology developments 3 Expert ratings, reviews or testimonials 6 Market and economic commentary 4 Customer stories and case studies 5 Peer ratings, reviews or testimonials
  • 17. 17 Top Trending Topics among Manager+ in SMBs in Europe 10 real-world tips for building relationships and closing more on LinkedIn Recruitment Success Kit: 15 tips for 2015 Make it Matter – Security, Mobility, Cloud, Big Data Solutions Warren Buffett Just Wrote His Best Annual Letter Ever – Bill Gates Why you should hire a French person Six Secrets to Success at Work – Jack Welch 3 month time-frame. LinkedIn: Feb 24th – May 24th
  • 18. 18 Customer service and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand & Reputation48% 2. Customer Service54% 1. Charges and rates57%
  • 19. Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 6% 62% 31% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 12% 12% 19% 37% 48% 53% 66% Visibility of employees Press coverage Conversations with friends / family / colleagues Responding quickly to enquiries Personal experience dealing with a provider Clear explanations of products and services Transparency of price and terms / conditions Factors that would increase confidence in the Financial Service industry
  • 20. Key findings Implications for marketers Almost all SMBs in Europe use social media An active presence on LinkedIn is crucial for successful marketing and customer acquisition SMBs can be reached on LinkedIn at each stage of their financial decision making journey Tap into vast pools of potential customers by providing them an avenue to share information about your brand and products Clear content related to financial products and services and better customer service are things SMBs look for in financial service brands Use LinkedIn to disseminate information about financial products and services, customer service and to build confidence 1 2 3
  • 21. Key findings Implications for marketers Almost all SMBs in France use social media An active presence on LinkedIn is crucial for successful marketing and customer acquisition Tap into vast pools of potential customers by providing them an avenue to share information about your brand and products Use LinkedIn to disseminate information about financial products and services, customer service, and to build confidence Contact us at https://lnkd.in/contact_us.