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

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SMBs are driving the Middle East back to growth, and relying on social media to help them do it. Here’s how to put together a winning social strategy to reach them:

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

  1. 1. How SMBs in Europe are embracing social media
  2. 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. 3. SMBs in Europe are growing …and are using Social Media
  4. 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. 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. 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. 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. 8. SMBs see Social Media as a key way to meet their business challenges
  9. 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. 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. 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. 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. 13. SMBs are looking for financial information on Social Media
  14. 14. 14 have used LinkedIn for financial purposes 40%44% are already using Social Media for at least one financial purpose
  15. 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. 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. 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. 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. 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. 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. 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.

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