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How SMBs in France are embracing social media [2015 Research]

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Small and medium-sized businesses (SMBs) are driving France back to growth – and they are relying on social media to help them do it. A third of SMBs credit social with driving an increase in their customer numbers. They trust it to help them move forward. So in order for SMBs to thrive they need to get their social media strategy right. We’ve just finished an in-depth survey of SMB decision-makers in France that can help you do just that.

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How SMBs in France are embracing social media [2015 Research]

  1. 1. How SMBs in France are embracing social media
  2. 2. 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.
  3. 3. SMBs in France are growing …and are using Social Media
  4. 4. 63% 59% have an increased number of customers have increased overall revenue have increased overall profitability50% 4 SMBs in France are experiencing widespread year-on-year growth
  5. 5. HYPER-GROWTH Significant increase in overall revenue compared to last year 5 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
  6. 6. 6 Almost all SMBs surveyed use Social Media for their business… 91% of SMBs are Current Users of Social Media 6% are Future Users
  7. 7. 7 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
  8. 8. SMBs see Social Media as a key way to meet their business challenges
  9. 9. 9 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
  10. 10. 10 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
  11. 11. 11 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
  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” 81% 68% Social media helps my company source and hire new employees 54%
  13. 13. SMBs are looking for financial information on LinkedIn
  14. 14. 14 have used LinkedIn for financial purposes 40%45% 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 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
  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, 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
  17. 17. 17 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%
  18. 18. 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
  19. 19. 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
  20. 20. 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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