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How SMBs in Europe are embracing social media
1 How SMBs in Europe are embracing social media 2 Focus on the UK 3 Focus on France 4 Focus on the Netherlands 5 Focus on the Middle East Contents
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. How SMBs in Europe are embracing social media
SMBs in Europe are growing …and are using Social Media How SMBs in Europe are embracing social media
69% 64% have an increased number of customers have increased overall revenue have increased overall profitability58% 5 SMBs in Europe are experiencing widespread year-on-year growth How SMBs in Europe are embracing social media
HYPER-GROWTH Significant increase in overall revenue compared to last year 6 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 How SMBs in Europe are embracing social media
7 Almost all SMBs surveyed use Social Media for their business… 91% of SMBs are Current Users of Social Media 5% are Future Users How SMBs in Europe are embracing social media
8 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 How SMBs in Europe are embracing social media
SMBs see Social Media as a key way to meet their business challenges How SMBs in Europe are embracing social media
10 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 How SMBs in Europe are embracing social media
11 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 How SMBs in Europe are embracing social media
12 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 How SMBs in Europe are embracing social media
13 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% How SMBs in Europe are embracing social media
SMBs are looking for financial information on Social Media How SMBs in Europe are embracing social media
15 have used LinkedIn for financial purposes 40%44% are already using Social Media for at least one financial purpose How SMBs in Europe are embracing social media
16 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 How SMBs in Europe are embracing social media
SMBs will be most engaged by do-it-yourself content, as well as innovation news and peer or expert reviews 17 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 How SMBs in Europe are embracing social media
18 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 How SMBs in Europe are embracing social media
19 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% How SMBs in Europe are embracing social media
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 How SMBs in Europe are embracing social media
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 How SMBs in Europe are embracing social media
Who did we survey? 456 Decision-Makers in Small and Medium Businesses (SMBs) in the UK How are SMBs defined? Businesses with: • Less than 500 employees • Less than £4M GBP annual revenue This report explores how Small and Medium Businesses (SMBs) in the UK make use of social media. How SMBs in the UK are embracing social media
SMBs in the UK are growing …and are using Social Media How SMBs in the UK are embracing social media
70% 68% have an increased number of customers have increased overall revenue have increased overall profitability63% 25 SMBs in the UK are experiencing widespread year-on-year growth How SMBs in the UK are embracing social media
HYPER-GROWTH Significant increase in overall revenue compared to last year 26 15% of SMBs report that they are currently in a hyper-growth phase 15% 53% 32% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in the UK are embracing social media
27 Almost all SMBs surveyed use Social Media for their business… 93% of SMBs are Current Users of Social Media 4% are Future Users How SMBs in the UK are embracing social media
28 92% 80% 68% 43% 39% 17% 11% LinkedIn Twitter Facebook YouTube Google+ Pinterest Instagram and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in the UK are embracing social media
SMBs see Social Media as a key way to meet their business challenges How SMBs in the UK are embracing social media
30 Lead generation and social media are cited as the main contributors to SMB growth 39% 29% 41% 41% 17% 13% 7% 8% Contributed to growth in customer numbers Contributed to growth in overall revenue Social media and social ads Lead Generation Other online ads Offline ads How SMBs in the UK are embracing social media
31 Growing SMBs were significantly more likely to plan to increase their Social Media spend in the next 12 months 63% 69% 53% 39%41% 39% Increased Social Media spend this year Increased Lead generation spend this year Hyper-growth SMBs Growth SMBs Non-growth SMBs How SMBs in the UK are embracing social media
32 Top challenges currently faced by SMBs relate to generating business, boosting profit margins and hiring 27% 30% 31% 32% 67% Managing cash flow Finding and hiring good employees Marketing and advertising effectively Increasing profit margins Attracting new / retaining current customers How SMBs in the UK are embracing social media
33 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” 45% How SMBs in the UK are embracing social media
SMBs are looking for financial information on Social Media How SMBs in the UK are embracing social media
35 have used LinkedIn for financial purposes 37%43% are already using Social Media for at least one financial purpose How SMBs in the UK are embracing social media
36 SMBs can be reached on LinkedIn at each stage of their decision making journey 2% 2% 8% 9% 10% 13% 19% 10% 20% Purchased an insurance product Opened a new financial account Discussed a financial product / policy or account type with a family member, friend, or colleague Asked a financial professional for additional info about a financial product / policy / account type 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 How SMBs in the UK are embracing social media
SMBs will be most engaged by do-it-yourself content, as well as innovation news, and peer or expert reviews 37 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 New innovation and technology developments 3 Peer ratings, reviews or testimonials 6 Thought leadership articles and stories 4 Expert ratings, reviews or testimonials 5 Customer stories and case studies How SMBs in the UK are embracing social media
38 Top Trending Topics among Manager+ in SMBs in the UK 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 Get the Free B2B Content Marketing Report Six Secrets to Success at Work – Jack Welch How SMBs in the UK are embracing social media
39 Customer service and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand and Reputation52% 2. Customer Service55% 1. Charges and Rates60% How SMBs in the UK are embracing social media
Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 8% 66% 26% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 13% 16% 20% 38% 50% 57% 63% Visibility of employees Press coverage Conversations with friends / family / colleagues Responding quickly to enquiries Clear explanations of products and services Personal experience dealing with a provider Transparency of price and terms / conditions Factors that would increase confidence in the Financial Service industry How SMBs in the UK are embracing social media
Key findings Implications for marketers Almost all SMBs in the UK 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 How SMBs in the UK are embracing social media
How SMBs in France are embracing social media
Who did we survey? 168 Decision-Makers in Small and Medium Businesses (SMBs) in France How are SMBs defined? Businesses with: • Less than 500 employees • Less than €5M annual revenue This report explores how Small and Medium Businesses (SMBs) in Europe make use of social media. How SMBs in France are embracing social media
SMBs in France are growing …and are using Social Media How SMBs in France are embracing social media
63% 59% have an increased number of customers have increased overall revenue have increased overall profitability50% 45 SMBs in France are experiencing widespread year-on-year growth How SMBs in France are embracing social media
HYPER-GROWTH Significant increase in overall revenue compared to last year 46 15% of SMBs report that they are currently in a hyper-growth phase 14% 46% 38% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in France are embracing social media
47 Almost all SMBs surveyed use Social Media for their business… 91% of SMBs are Current Users of Social Media 6% are Future Users How SMBs in France are embracing social media
48 90% 60% 58% 43% 39% 36% 15% LinkedIn Twitter Facebook YouTube Google+ Viadeo Instagram and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in France are embracing social media
SMBs see Social Media as a key way to meet their business challenges How SMBs in France are embracing social media
50 SMBs reported social media and lead generation as key drivers for revenue and customer growth 32% 12% 20% 6% 25% 24% Contributed to growth in customer numbers Contributed to growth in overall revenue Social media and social ads Other online ads Lead Generation How SMBs in France are embracing social media
51 SMB’s have increased their spend in both social media and lead generation and plan a further increase in the next year 50% 38% 50% 27% Increased spend this year Plan to increase spend next year Social Media Lead generation 3 in 4 of all SMBs that increased social media spend this year, planned to increase spend again next year How SMBs in France are embracing social media
52 Top challenges currently faced by SMBs relate to generating business, boosting profit margins and hiring 24% 25% 28% 35% 66% Keeping up with technology Increasing profit margins Finding and hiring good employees Marketing and advertising effectively Attracting new / retaining current customers How SMBs in France are embracing social media
53 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” 81% 68% Social media helps my company source and hire new employees 54% How SMBs in France are embracing social media
SMBs are looking for financial information on LinkedIn How SMBs in France are embracing social media
55 have used LinkedIn for financial purposes 40%45% are already using Social Media for at least one financial purpose How SMBs in France are embracing social media
56 SMBs can be reached at each stage of their decision making journey on LinkedIn 3% 3% 4% 7% 8% 13% 14% 15% 19% 23% Purchased an insurance product Purchased an investment product Opened a new financial account 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 Conducted additional research on a financial product Contacted a financial representative Learned about a financial company was not aware of Learned of a financial product was not aware of Shared info about financial trends/products/companies Awareness Consideration Purchase How SMBs in France are embracing social media
SMBs will be most engaged by do-it-yourself content, as well as innovation news and peer or expert reviews 57 Top 6 Impactful Types of Financial Services Content 1 Best practices, How-To-guides, checklists 2 New innovation and technology developments 6 Market and economic commentary 5 Peer ratings, reviews or testimonials 4 Expert ratings, reviews or testimonials 3 Customer stories and case studies How SMBs in France are embracing social media
58 Customer service and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand & Reputation42% 2. Customer Service54% 1. Charges and Rates56% How SMBs in France are embracing social media
Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 5% 67% 28% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 6% 7% 23% 34% 45% 51% 62% 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 How SMBs in France are embracing social media
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 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 How SMBs in France are embracing social media
How SMBs in the Netherlands are embracing social media
Who did we survey? 189 Decision-Makers in Small and Medium Businesses (SMBs) in the Netherlands How are SMBs defined? Businesses with: • Less than 500 employees • Less than €5M annual revenue This report explores how Small and Medium Businesses (SMBs) in the Netherlands make use of social media. How SMBs in the Netherlands are embracing social media
SMBs in the Netherlands are growing …and are using Social Media How SMBs in the Netherlands are embracing social media
69% 61% have an increased number of customers have increased overall revenue have increased overall profitability54% 64 SMBs in the Netherlands are experiencing widespread year-on-year growth How SMBs in the Netherlands are embracing social media
HYPER-GROWTH Significant increase in overall revenue compared to last year 65 14% of SMBs report that they are currently in a hyper-growth phase 16% 45% 26% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in the Netherlands are embracing social media
66 Almost all SMBs surveyed use Social Media for their business… 92% of SMBs are Current Users of Social Media 6% are Future Users How SMBs in the Netherlands are embracing social media
67 93% 58% 55% 43% 32% 15% 14% LinkedIn Facebook Twitter YouTube Google+ Instagram Pinterest and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in the Netherlands are embracing social media
SMBs see Social Media as a key way to meet their business challenges How SMBs in the Netherlands are embracing social media
69 Lead generation and social media are cited as key contributors of SMB growth 42% 38% 33% 34% 15% 18% 8% 8% Contributed to growth in customer numbers Contributed to growth in overall revenue Lead Generation Social media and social ads Other online ads Offline ads How SMBs in the Netherlands are embracing social media
70 Growing SMBs were significantly more likely to plan to increase their Social Media spend in the next 12 months 69% 38% 55% 43% 39% 37% Plan to increase Social Media in the next 12 months Plan to increase Lead Generation spend in the enxt 12 months Hyper-growth SMBs Growth SMBs Non-growth SMBs How SMBs in the Netherlands are embracing social media
71 Top challenges currently faced by SMBs relate to generating business, marketing effectively and hiring 20% 25% 31% 34% 65% Managing cash flow Finding and hiring good employees Increasing profit margins Marketing and advertising effectively Attracting new / retaining current customers How SMBs in the Netherlands are embracing social media
72 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” 78% 73% Social media helps my company source and hire new employees 67% How SMBs in the Netherlands are embracing social media
SMBs are looking for financial information on Social Media How SMBs in the Netherlands are embracing social media
74 have used LinkedIn for financial purposes 40%44% are already using Social Media for at least one financial purpose How SMBs in the Netherlands are embracing social media
75 SMBs can be reached on LinkedIn at each stage of their decision making journey 2% 3% 5% 8% 6% 9% 8% 10% 10% 22% Purchased an insurance product Purchased in new investment product Opened a new financial account Discussed a financial product / policy or account type with a family member, friend, or colleague Asked a financial professional for additional info about a financial product / policy / account type Contacted a financial representative Conducted additional research on a financial product Learned of a financial product was not aware of Learned about a financial company was not aware of Shared info about financial trends/products/companies Awareness Consideration Purchase How SMBs in the Netherlands are embracing social media
SMBs will be most engaged by do-it-yourself content, as well as innovation news, and peer or expert reviews 76 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 Peer ratings, reviews or testimonials 3 Expert ratings, reviews or testimonials 6 Thought leadership articles and stories 4 New innovation and technology developments 5 Customer stories and case studies How SMBs in the Netherlands are embracing social media
77 Rates and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Customer Service47% 2. Brand and Reputation48% 1. Charges and rates50% How SMBs in the Netherlands are embracing social media
Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 5% 58% 25% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 14% 14% 16% 33% 41% 62% 74% Visibility of employees Press coverage Conversations with friends / family / colleagues Responding quickly to enquiries Personal experience dealing with a provider Transparency of price and terms / conditions Clear explanations of products and services Factors that would increase confidence in the Financial Service industry How SMBs in the Netherlands are embracing social media
Key findings Implications for marketers Almost all SMBs in the Netherlands 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 How SMBs in the Netherlands are embracing social media
How SMB’s in the Middle East are embracing social media
Who did we survey? 260 Decision-Makers in Small and Medium Businesses (SMBs) across Bahrain, Kuwait, UAE, Oman, Qatar and Saudi Arabia. How are SMBs defined? Businesses with: • Less than 500 employees • Less than 20 million AED annual revenue This report explores how Small and Medium Businesses (SMBs) in the Middle East make use of social media. How SMBs in the Middle East are embracing social media
SMBs in the Middle East are growing …and are using Social Media How SMBs in the Middle East are embracing social media
72% 71% have an increased number of customers have increased overall revenue have increased overall profitability63% 83 SMBs in the Middle East are experiencing widespread year-on-year growth How SMBs in the Middle East are embracing social media
HYPER-GROWTH Significant increase in overall revenue compared to last year 84 16% of SMBs report that they are currently in a hyper-growth phase 16% 55% 29% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in the Middle East are embracing social media
85 Almost all SMBs surveyed use Social Media for their business… 92% of SMBs are Current Users of Social Media 5% are Future Users How SMBs in the Middle East are embracing social media
86 90% 72% 53% 39% 33% 27% 8% LinkedIn Facebook Twitter YouTube Google+ Instagram Pinterest and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in the Middle East are embracing social media
SMBs see Social Media as a key way to meet their business challenges How SMBs in the Middle East are embracing social media
88 Lead generation and social media are cited as the main contributors to SMB growth 48% 43% 34% 32% 20% 17% 12% 12% Contributed to growth in customer numbers Contributed to growth in overall revenue Lead Generation Social media and social ads Other online ads Offline ads How SMBs in the Middle East are embracing social media
89 Growing SMBs are more likely to increase lead gen and social media spend in the next 12 months 51% 57% 45% 56% 41% 53% Plan to increase Lead Gen spend next year Plan to increase Social Media spend next year Hyper-growth SMBs Growth SMBs Non-growth SMBs How SMBs in the Middle East are embracing social media
90 Top challenges currently faced by SMBs relate to generating business, marketing effectively and hiring 25% 27% 34% 35% 50% Marketing and advertising effectively Managing cash flow Increasing profit margins Finding and hiring good employees Attracting new / retaining current customers How SMBs in the Middle East are embracing social media
91 …. But social media helps SMBs overcome some of their key challenges “Social media is important for retaining/getting new customers” “Social media is important for marketing my company” 84% 69% “Social media helps my company source and hire new employees” 72% How SMBs in the Middle East are embracing social media
SMBs are looking for financial information on LinkedIn How SMBs in the Middle East are embracing social media
93 have used LinkedIn for financial purposes 46%57% are already using Social Media for at least one financial purpose How SMBs in the Middle East are embracing social media
94 SMBs can be reached on LinkedIn at each stage of the decision making journey 7% 9% 10% 13% 17% 18% 16% 24% 24% Purchased an insurance/investment product Opened a new account Contacted a financial representative Discussed a financial product / policy or account type with a family member, friend, or colleague Asked a financial professional for additional info about a financial product / policy / account type Conducted additional research on a financial product Learned of a financial product was not aware of Shared info about financial trends/products/companies Learned about a financial company was not aware of Awareness Consideration Purchase How SMBs in the Middle East are embracing social media
SMBs will be most engaged by do-it-yourself content, as well as innovation news, and peer or expert reviews 95 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 Product performance updates 3 Customer success stories 6 Market and economic commentary 4 Company background 5 New innovations and tech developments How SMBs in the Middle East are embracing social media
96 Customer service and fees feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand & Reputation53% 2. Rates and Charges59% 1. Customer Service63% How SMBs in the Middle East are embracing social media
Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 17% 58% 25% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 9% 15% 18% 46% 52% 56% 65% Press coverage Conversations with friends / family / colleagues Visibility of employees 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 How SMBs in the Middle East are embracing social media
Key findings Implications for marketers Almost all SMBs in the Middle East 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 How SMBs in the Middle East are embracing social media
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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SMB Finserve Deck_FINAL

  • 1. How SMBs in Europe are embracing social media
  • 2. 1 How SMBs in Europe are embracing social media 2 Focus on the UK 3 Focus on France 4 Focus on the Netherlands 5 Focus on the Middle East Contents
  • 3. 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. How SMBs in Europe are embracing social media
  • 4. SMBs in Europe are growing …and are using Social Media How SMBs in Europe are embracing social media
  • 5. 69% 64% have an increased number of customers have increased overall revenue have increased overall profitability58% 5 SMBs in Europe are experiencing widespread year-on-year growth How SMBs in Europe are embracing social media
  • 6. HYPER-GROWTH Significant increase in overall revenue compared to last year 6 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 How SMBs in Europe are embracing social media
  • 7. 7 Almost all SMBs surveyed use Social Media for their business… 91% of SMBs are Current Users of Social Media 5% are Future Users How SMBs in Europe are embracing social media
  • 8. 8 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 How SMBs in Europe are embracing social media
  • 9. SMBs see Social Media as a key way to meet their business challenges How SMBs in Europe are embracing social media
  • 10. 10 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 How SMBs in Europe are embracing social media
  • 11. 11 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 How SMBs in Europe are embracing social media
  • 12. 12 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 How SMBs in Europe are embracing social media
  • 13. 13 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% How SMBs in Europe are embracing social media
  • 14. SMBs are looking for financial information on Social Media How SMBs in Europe are embracing social media
  • 15. 15 have used LinkedIn for financial purposes 40%44% are already using Social Media for at least one financial purpose How SMBs in Europe are embracing social media
  • 16. 16 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 How SMBs in Europe are embracing social media
  • 17. SMBs will be most engaged by do-it-yourself content, as well as innovation news and peer or expert reviews 17 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 How SMBs in Europe are embracing social media
  • 18. 18 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 How SMBs in Europe are embracing social media
  • 19. 19 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% How SMBs in Europe are embracing social media
  • 20. 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 How SMBs in Europe are embracing social media
  • 21. 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 How SMBs in Europe are embracing social media
  • 22.
  • 23. Who did we survey? 456 Decision-Makers in Small and Medium Businesses (SMBs) in the UK How are SMBs defined? Businesses with: • Less than 500 employees • Less than £4M GBP annual revenue This report explores how Small and Medium Businesses (SMBs) in the UK make use of social media. How SMBs in the UK are embracing social media
  • 24. SMBs in the UK are growing …and are using Social Media How SMBs in the UK are embracing social media
  • 25. 70% 68% have an increased number of customers have increased overall revenue have increased overall profitability63% 25 SMBs in the UK are experiencing widespread year-on-year growth How SMBs in the UK are embracing social media
  • 26. HYPER-GROWTH Significant increase in overall revenue compared to last year 26 15% of SMBs report that they are currently in a hyper-growth phase 15% 53% 32% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in the UK are embracing social media
  • 27. 27 Almost all SMBs surveyed use Social Media for their business… 93% of SMBs are Current Users of Social Media 4% are Future Users How SMBs in the UK are embracing social media
  • 28. 28 92% 80% 68% 43% 39% 17% 11% LinkedIn Twitter Facebook YouTube Google+ Pinterest Instagram and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in the UK are embracing social media
  • 29. SMBs see Social Media as a key way to meet their business challenges How SMBs in the UK are embracing social media
  • 30. 30 Lead generation and social media are cited as the main contributors to SMB growth 39% 29% 41% 41% 17% 13% 7% 8% Contributed to growth in customer numbers Contributed to growth in overall revenue Social media and social ads Lead Generation Other online ads Offline ads How SMBs in the UK are embracing social media
  • 31. 31 Growing SMBs were significantly more likely to plan to increase their Social Media spend in the next 12 months 63% 69% 53% 39%41% 39% Increased Social Media spend this year Increased Lead generation spend this year Hyper-growth SMBs Growth SMBs Non-growth SMBs How SMBs in the UK are embracing social media
  • 32. 32 Top challenges currently faced by SMBs relate to generating business, boosting profit margins and hiring 27% 30% 31% 32% 67% Managing cash flow Finding and hiring good employees Marketing and advertising effectively Increasing profit margins Attracting new / retaining current customers How SMBs in the UK are embracing social media
  • 33. 33 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” 45% How SMBs in the UK are embracing social media
  • 34. SMBs are looking for financial information on Social Media How SMBs in the UK are embracing social media
  • 35. 35 have used LinkedIn for financial purposes 37%43% are already using Social Media for at least one financial purpose How SMBs in the UK are embracing social media
  • 36. 36 SMBs can be reached on LinkedIn at each stage of their decision making journey 2% 2% 8% 9% 10% 13% 19% 10% 20% Purchased an insurance product Opened a new financial account Discussed a financial product / policy or account type with a family member, friend, or colleague Asked a financial professional for additional info about a financial product / policy / account type 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 How SMBs in the UK are embracing social media
  • 37. SMBs will be most engaged by do-it-yourself content, as well as innovation news, and peer or expert reviews 37 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 New innovation and technology developments 3 Peer ratings, reviews or testimonials 6 Thought leadership articles and stories 4 Expert ratings, reviews or testimonials 5 Customer stories and case studies How SMBs in the UK are embracing social media
  • 38. 38 Top Trending Topics among Manager+ in SMBs in the UK 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 Get the Free B2B Content Marketing Report Six Secrets to Success at Work – Jack Welch How SMBs in the UK are embracing social media
  • 39. 39 Customer service and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand and Reputation52% 2. Customer Service55% 1. Charges and Rates60% How SMBs in the UK are embracing social media
  • 40. Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 8% 66% 26% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 13% 16% 20% 38% 50% 57% 63% Visibility of employees Press coverage Conversations with friends / family / colleagues Responding quickly to enquiries Clear explanations of products and services Personal experience dealing with a provider Transparency of price and terms / conditions Factors that would increase confidence in the Financial Service industry How SMBs in the UK are embracing social media
  • 41. Key findings Implications for marketers Almost all SMBs in the UK 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 How SMBs in the UK are embracing social media
  • 42. How SMBs in France are embracing social media
  • 43. Who did we survey? 168 Decision-Makers in Small and Medium Businesses (SMBs) in France How are SMBs defined? Businesses with: • Less than 500 employees • Less than €5M annual revenue This report explores how Small and Medium Businesses (SMBs) in Europe make use of social media. How SMBs in France are embracing social media
  • 44. SMBs in France are growing …and are using Social Media How SMBs in France are embracing social media
  • 45. 63% 59% have an increased number of customers have increased overall revenue have increased overall profitability50% 45 SMBs in France are experiencing widespread year-on-year growth How SMBs in France are embracing social media
  • 46. HYPER-GROWTH Significant increase in overall revenue compared to last year 46 15% of SMBs report that they are currently in a hyper-growth phase 14% 46% 38% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in France are embracing social media
  • 47. 47 Almost all SMBs surveyed use Social Media for their business… 91% of SMBs are Current Users of Social Media 6% are Future Users How SMBs in France are embracing social media
  • 48. 48 90% 60% 58% 43% 39% 36% 15% LinkedIn Twitter Facebook YouTube Google+ Viadeo Instagram and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in France are embracing social media
  • 49. SMBs see Social Media as a key way to meet their business challenges How SMBs in France are embracing social media
  • 50. 50 SMBs reported social media and lead generation as key drivers for revenue and customer growth 32% 12% 20% 6% 25% 24% Contributed to growth in customer numbers Contributed to growth in overall revenue Social media and social ads Other online ads Lead Generation How SMBs in France are embracing social media
  • 51. 51 SMB’s have increased their spend in both social media and lead generation and plan a further increase in the next year 50% 38% 50% 27% Increased spend this year Plan to increase spend next year Social Media Lead generation 3 in 4 of all SMBs that increased social media spend this year, planned to increase spend again next year How SMBs in France are embracing social media
  • 52. 52 Top challenges currently faced by SMBs relate to generating business, boosting profit margins and hiring 24% 25% 28% 35% 66% Keeping up with technology Increasing profit margins Finding and hiring good employees Marketing and advertising effectively Attracting new / retaining current customers How SMBs in France are embracing social media
  • 53. 53 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” 81% 68% Social media helps my company source and hire new employees 54% How SMBs in France are embracing social media
  • 54. SMBs are looking for financial information on LinkedIn How SMBs in France are embracing social media
  • 55. 55 have used LinkedIn for financial purposes 40%45% are already using Social Media for at least one financial purpose How SMBs in France are embracing social media
  • 56. 56 SMBs can be reached at each stage of their decision making journey on LinkedIn 3% 3% 4% 7% 8% 13% 14% 15% 19% 23% Purchased an insurance product Purchased an investment product Opened a new financial account 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 Conducted additional research on a financial product Contacted a financial representative Learned about a financial company was not aware of Learned of a financial product was not aware of Shared info about financial trends/products/companies Awareness Consideration Purchase How SMBs in France are embracing social media
  • 57. SMBs will be most engaged by do-it-yourself content, as well as innovation news and peer or expert reviews 57 Top 6 Impactful Types of Financial Services Content 1 Best practices, How-To-guides, checklists 2 New innovation and technology developments 6 Market and economic commentary 5 Peer ratings, reviews or testimonials 4 Expert ratings, reviews or testimonials 3 Customer stories and case studies How SMBs in France are embracing social media
  • 58. 58 Customer service and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand & Reputation42% 2. Customer Service54% 1. Charges and Rates56% How SMBs in France are embracing social media
  • 59. Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 5% 67% 28% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 6% 7% 23% 34% 45% 51% 62% 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 How SMBs in France are embracing social media
  • 60. 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 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 How SMBs in France are embracing social media
  • 61. How SMBs in the Netherlands are embracing social media
  • 62. Who did we survey? 189 Decision-Makers in Small and Medium Businesses (SMBs) in the Netherlands How are SMBs defined? Businesses with: • Less than 500 employees • Less than €5M annual revenue This report explores how Small and Medium Businesses (SMBs) in the Netherlands make use of social media. How SMBs in the Netherlands are embracing social media
  • 63. SMBs in the Netherlands are growing …and are using Social Media How SMBs in the Netherlands are embracing social media
  • 64. 69% 61% have an increased number of customers have increased overall revenue have increased overall profitability54% 64 SMBs in the Netherlands are experiencing widespread year-on-year growth How SMBs in the Netherlands are embracing social media
  • 65. HYPER-GROWTH Significant increase in overall revenue compared to last year 65 14% of SMBs report that they are currently in a hyper-growth phase 16% 45% 26% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in the Netherlands are embracing social media
  • 66. 66 Almost all SMBs surveyed use Social Media for their business… 92% of SMBs are Current Users of Social Media 6% are Future Users How SMBs in the Netherlands are embracing social media
  • 67. 67 93% 58% 55% 43% 32% 15% 14% LinkedIn Facebook Twitter YouTube Google+ Instagram Pinterest and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in the Netherlands are embracing social media
  • 68. SMBs see Social Media as a key way to meet their business challenges How SMBs in the Netherlands are embracing social media
  • 69. 69 Lead generation and social media are cited as key contributors of SMB growth 42% 38% 33% 34% 15% 18% 8% 8% Contributed to growth in customer numbers Contributed to growth in overall revenue Lead Generation Social media and social ads Other online ads Offline ads How SMBs in the Netherlands are embracing social media
  • 70. 70 Growing SMBs were significantly more likely to plan to increase their Social Media spend in the next 12 months 69% 38% 55% 43% 39% 37% Plan to increase Social Media in the next 12 months Plan to increase Lead Generation spend in the enxt 12 months Hyper-growth SMBs Growth SMBs Non-growth SMBs How SMBs in the Netherlands are embracing social media
  • 71. 71 Top challenges currently faced by SMBs relate to generating business, marketing effectively and hiring 20% 25% 31% 34% 65% Managing cash flow Finding and hiring good employees Increasing profit margins Marketing and advertising effectively Attracting new / retaining current customers How SMBs in the Netherlands are embracing social media
  • 72. 72 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” 78% 73% Social media helps my company source and hire new employees 67% How SMBs in the Netherlands are embracing social media
  • 73. SMBs are looking for financial information on Social Media How SMBs in the Netherlands are embracing social media
  • 74. 74 have used LinkedIn for financial purposes 40%44% are already using Social Media for at least one financial purpose How SMBs in the Netherlands are embracing social media
  • 75. 75 SMBs can be reached on LinkedIn at each stage of their decision making journey 2% 3% 5% 8% 6% 9% 8% 10% 10% 22% Purchased an insurance product Purchased in new investment product Opened a new financial account Discussed a financial product / policy or account type with a family member, friend, or colleague Asked a financial professional for additional info about a financial product / policy / account type Contacted a financial representative Conducted additional research on a financial product Learned of a financial product was not aware of Learned about a financial company was not aware of Shared info about financial trends/products/companies Awareness Consideration Purchase How SMBs in the Netherlands are embracing social media
  • 76. SMBs will be most engaged by do-it-yourself content, as well as innovation news, and peer or expert reviews 76 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 Peer ratings, reviews or testimonials 3 Expert ratings, reviews or testimonials 6 Thought leadership articles and stories 4 New innovation and technology developments 5 Customer stories and case studies How SMBs in the Netherlands are embracing social media
  • 77. 77 Rates and reputation feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Customer Service47% 2. Brand and Reputation48% 1. Charges and rates50% How SMBs in the Netherlands are embracing social media
  • 78. Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 5% 58% 25% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 14% 14% 16% 33% 41% 62% 74% Visibility of employees Press coverage Conversations with friends / family / colleagues Responding quickly to enquiries Personal experience dealing with a provider Transparency of price and terms / conditions Clear explanations of products and services Factors that would increase confidence in the Financial Service industry How SMBs in the Netherlands are embracing social media
  • 79. Key findings Implications for marketers Almost all SMBs in the Netherlands 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 How SMBs in the Netherlands are embracing social media
  • 80. How SMB’s in the Middle East are embracing social media
  • 81. Who did we survey? 260 Decision-Makers in Small and Medium Businesses (SMBs) across Bahrain, Kuwait, UAE, Oman, Qatar and Saudi Arabia. How are SMBs defined? Businesses with: • Less than 500 employees • Less than 20 million AED annual revenue This report explores how Small and Medium Businesses (SMBs) in the Middle East make use of social media. How SMBs in the Middle East are embracing social media
  • 82. SMBs in the Middle East are growing …and are using Social Media How SMBs in the Middle East are embracing social media
  • 83. 72% 71% have an increased number of customers have increased overall revenue have increased overall profitability63% 83 SMBs in the Middle East are experiencing widespread year-on-year growth How SMBs in the Middle East are embracing social media
  • 84. HYPER-GROWTH Significant increase in overall revenue compared to last year 84 16% of SMBs report that they are currently in a hyper-growth phase 16% 55% 29% GROWTH Increase in overall revenue compared to last year NON-GROWTH No change or decrease in overall revenue compared to last year How SMBs in the Middle East are embracing social media
  • 85. 85 Almost all SMBs surveyed use Social Media for their business… 92% of SMBs are Current Users of Social Media 5% are Future Users How SMBs in the Middle East are embracing social media
  • 86. 86 90% 72% 53% 39% 33% 27% 8% LinkedIn Facebook Twitter YouTube Google+ Instagram Pinterest and LinkedIn is the #1 Social Media site used by the companies of the individual SMB professionals surveyed How SMBs in the Middle East are embracing social media
  • 87. SMBs see Social Media as a key way to meet their business challenges How SMBs in the Middle East are embracing social media
  • 88. 88 Lead generation and social media are cited as the main contributors to SMB growth 48% 43% 34% 32% 20% 17% 12% 12% Contributed to growth in customer numbers Contributed to growth in overall revenue Lead Generation Social media and social ads Other online ads Offline ads How SMBs in the Middle East are embracing social media
  • 89. 89 Growing SMBs are more likely to increase lead gen and social media spend in the next 12 months 51% 57% 45% 56% 41% 53% Plan to increase Lead Gen spend next year Plan to increase Social Media spend next year Hyper-growth SMBs Growth SMBs Non-growth SMBs How SMBs in the Middle East are embracing social media
  • 90. 90 Top challenges currently faced by SMBs relate to generating business, marketing effectively and hiring 25% 27% 34% 35% 50% Marketing and advertising effectively Managing cash flow Increasing profit margins Finding and hiring good employees Attracting new / retaining current customers How SMBs in the Middle East are embracing social media
  • 91. 91 …. But social media helps SMBs overcome some of their key challenges “Social media is important for retaining/getting new customers” “Social media is important for marketing my company” 84% 69% “Social media helps my company source and hire new employees” 72% How SMBs in the Middle East are embracing social media
  • 92. SMBs are looking for financial information on LinkedIn How SMBs in the Middle East are embracing social media
  • 93. 93 have used LinkedIn for financial purposes 46%57% are already using Social Media for at least one financial purpose How SMBs in the Middle East are embracing social media
  • 94. 94 SMBs can be reached on LinkedIn at each stage of the decision making journey 7% 9% 10% 13% 17% 18% 16% 24% 24% Purchased an insurance/investment product Opened a new account Contacted a financial representative Discussed a financial product / policy or account type with a family member, friend, or colleague Asked a financial professional for additional info about a financial product / policy / account type Conducted additional research on a financial product Learned of a financial product was not aware of Shared info about financial trends/products/companies Learned about a financial company was not aware of Awareness Consideration Purchase How SMBs in the Middle East are embracing social media
  • 95. SMBs will be most engaged by do-it-yourself content, as well as innovation news, and peer or expert reviews 95 Top 6 Impactful Types of Financial services Content 1 Best practices, How-To-guides and checklists 2 Product performance updates 3 Customer success stories 6 Market and economic commentary 4 Company background 5 New innovations and tech developments How SMBs in the Middle East are embracing social media
  • 96. 96 Customer service and fees feature highly as factors to consider when choosing a financial services company Top 3 Consideration Factors 3. Brand & Reputation53% 2. Rates and Charges59% 1. Customer Service63% How SMBs in the Middle East are embracing social media
  • 97. Transparency and clarity as well as direct experience with a provider, are key to increasing the confidence of SMBs 17% 58% 25% Confidence in the Financial Service industry in the past 12 months Increased confidence Stayed the same Decreased confidence 9% 15% 18% 46% 52% 56% 65% Press coverage Conversations with friends / family / colleagues Visibility of employees 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 How SMBs in the Middle East are embracing social media
  • 98. Key findings Implications for marketers Almost all SMBs in the Middle East 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 How SMBs in the Middle East are embracing social media
  • 99. 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.