How social drives business growth – and business decisions
Europe’s most influential businesses have a new way of doing business following the global economic downturn. And it’s called social media.
New research from LinkedIn and Join the Dots proves that decision-makers in large and medium-sized European businesses (those with annual revenues of £4 million or €5 million) see social media as fundamental to doing business –and as a crucial driver of growth. Social is used to acquire new customers, generate leads, deliver content to a range of different audiences and generate advocacy and word of mouth; but also to inform all manner of business decisions, to listen to market trends, to source talent and to deliver customer service. And it’s rated as highly effective by over two-thirds of decision makers in all of these areas.
Since an outsized proportion of Europe’s GDP flows through businesses of this size (in the UK they represent less than 1% of all businesses but 66% of business turnover), engaging their decision-makers is essential for any would-be supplier. This engagement must happen on social – and when you look closely at specific sectors and services, it’s clear that most of it must happen on LinkedIn.
When it comes to corporate financial decision-makers, an area where 81% of decision-makers use social to guide their choices, we find that these influencers are more open to receiving financial content on LinkedIn than any other platform. And when they consume such content, they act on it: 81% had taken some form of action after engaging with financial content on LinkedIn, and 42% had gone on to complete a purchase of some kind.
To read more about how social media is powering business and directing buying choices across Europe.