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

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SMBs are driving Europe 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 Netherlands are embracing social media [2015 Research]

  1. 1. How SMBs in the Netherlands are embracing social media MIDDLE
  2. 2. 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.
  3. 3. SMBs in the Netherlands are growing …and are using Social Media
  4. 4. 69% 61% have an increased number of customers have increased overall revenue have increased overall profitability54% 4 SMBs in the Netherlands 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 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
  6. 6. 6 Almost all SMBs surveyed use Social Media for their business… 92% of SMBs are Current Users of Social Media 6% are Future Users
  7. 7. 7 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
  8. 8. SMBs see Social Media as a key way to meet their business challenges
  9. 9. 9 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
  10. 10. 10 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
  11. 11. 11 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
  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” 78% 73% Social media helps my company source and hire new employees 67%
  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 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
  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 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
  17. 17. 17 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%
  18. 18. 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
  19. 19. 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
  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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