How SMBs in Europe are embracing social media...Customer stories and case studies 5 Peer ratings,...

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


69%

64%

have an increased number of

customers

have increased overall

revenue


profitability 58%

5

SMBs in Europe are experiencing widespread year-on-year growth


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



7

Almost all SMBs surveyed use Social Media for their business…

91% of SMBs

are Current

Users of

Social Media

5% are Future

Users


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


SMBs see Social Media as a key way

to meet their business challenges


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 incustomer numbers

Contributed to growth inoverall revenue

Social media and social ads

Other online ads

Offline ads


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 Mediaspend this year

Plan to increase Social Mediaspend 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


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


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%


SMBs are looking for financial

information on Social Media


15

have used LinkedIn for

financial purposes

40% 44% are already using Social

Media for at least one

financial purpose


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 afinancial product / policy / account type

Discussed a financial product / policy or account typewith 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


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


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


19

Customer service and reputation feature highly as factors to

consider when choosing a financial services company

Top 3

Consideration Factors

3. Brand & Reputation 48%

2. Customer Service 54%

1. Charges and rates 57%


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


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


Who did we survey? 456 Decision-Makers

in Small and Medium

Businesses (SMBs) in the UK



• 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



70%

68%


customers


revenue


profitability 63%

25

SMBs in the UK are experiencing widespread year-on-year growth




26

15% of SMBs report that they are

currently in a hyper-growth phase

15%

53%

32%



NON-GROWTH No change or decrease in overall revenue compared to last year


27


93% of SMBs

are Current

Users of

Social Media

4% are Future

Users


28

92%

80%

68%

43% 39%

17% 11%

LinkedIn Twitter Facebook YouTube Google+ Pinterest Instagram




30

Lead generation and social media are cited

as the main contributors to SMB growth

39%

29%

41% 41%

17%

13%

7% 8%



Social media and social ads Lead Generation

Other online ads Offline ads


31



63%

69%

53%

39% 41% 39%

Increased Social Mediaspend this year

Increased Lead generationspend this year

Hyper-growth SMBs Growth SMBs Non-growth SMBs


32



27%

30%

31%

32%

67%

Managing cash flow






33





customers”



79%

68%

“Social media helps my


new employees”

45%


35


financial purposes



financial purpose


36

SMBs can be reached on LinkedIn at each stage of

their decision making journey

2%

2%

8%

9%

10%

13%

19%

10%

20%


Opened a new financial account








Awareness

Consideration

Purchase



innovation news, and peer or expert reviews

37


1


checklists

2


3


6

Thought leadership articles and stories

4


5



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


39



Top 3


3. Brand and Reputation 52%


1. Charges and Rates 60%




8%

66%

26%



Stayed the same


13%

16%

20%

38%

50%

57%

63%


Press coverage









Almost all SMBs in the UK use

social media






making journey




and products








build confidence

1

2

3


How SMBs in France are

embracing social media


in Small and Medium

Businesses (SMBs) in France



• Less than €5M annual

revenue


in Europe make use of social media.

How SMBs in France are embracing social media

SMBs in France are growing



63%

59%


customers


revenue


profitability 50%

45

SMBs in France are experiencing widespread year-on-year growth




46



14%

46%

38%





47


91% of SMBs

are Current

Users of

Social Media

6% are Future

Users


48

90%

60% 58%

43% 39%

36%

15%

LinkedIn Twitter Facebook YouTube Google+ Viadeo Instagram




50

SMBs reported social media and lead generation as key

drivers for revenue and customer growth

32%

12%

20%

6%

25% 24%



Social media and social ads

Other online ads

Lead Generation


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 nextyear

Social Media

Lead generation


increased social

media spend this

year, planned to

increase spend

again next year


52



24%

25%

28%

35%

66%

Keeping up with technology






53





customers”



81%

68%



new employees

54%



information on LinkedIn


55


financial purposes



financial purpose


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 investment product



Discussed a financial product / policy or account typewith a family member, friend or colleague






Awareness

Consideration

Purchase



innovation news and peer or expert reviews

57

Top 6 Impactful Types of Financial Services Content

1

Best practices, How-To-guides, checklists

2


6


5


4


3



58



Top 3




1. Charges and Rates 56%




5%

67%

28%



Stayed the same


6%

7%

23%

34%

45%

51%

62%


Press coverage









Almost all SMBs in France use

social media






making journey




and products








build confidence

1

2

3


How SMBs in the Netherlands

are embracing social media


in Small and Medium

Businesses (SMBs) in the

Netherlands



• Less than €5M annual

revenue


in the Netherlands make use of social media.

How SMBs in the Netherlands are embracing social media

SMBs in the Netherlands are growing



69%

61%


customers


revenue


profitability 54%

64

SMBs in the Netherlands are experiencing

widespread year-on-year growth




65



16%

45%

26%





66


92% of SMBs

are Current

Users of

Social Media

6% are Future

Users


67

93%

58% 55%

43%

32%

15% 14%

LinkedIn Facebook Twitter YouTube Google+ Instagram Pinterest




69

Lead generation and social media are cited

as key contributors of SMB growth

42%

38%

33% 34%

15% 18%

8% 8%



Lead Generation Social media and social ads



70



69%

38%

55%

43% 39% 37%

Plan to increase Social Mediain the next 12 months

Plan to increase LeadGeneration spend in the enxt

12 months



increased social

media spend this

year, planned to

increase spend

again next year


71


business, marketing effectively and hiring

20%

25%

31%

34%

65%

Managing cash flow






72





customers”



78%

73%



new employees

67%


74


financial purposes



financial purpose


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 in new investment product









Awareness

Consideration

Purchase




76


1


checklists

2


3


6

Thought leadership articles and stories

4

New innovation and technology

developments

5



77

Rates and reputation feature highly as factors to consider

when choosing a financial services company

Top 3



2. Brand and Reputation 48%

1. Charges and rates 50%




5%

58%

25%



Stayed the same


14%

14%

16%

33%

41%

62%

74%


Press coverage









Almost all SMBs in the Netherlands

use social media






making journey




and products








build confidence

1

2

3


How SMB’s in the Middle East

are embracing social media


in Small and Medium

Businesses (SMBs) across

Bahrain, Kuwait, UAE, Oman,

Qatar and Saudi Arabia.



• Less than 20 million AED

annual revenue


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



72%

71%


customers


revenue


profitability 63%

83

SMBs in the Middle East are experiencing

widespread year-on-year growth




84



16%

55%

29%





85


92% of SMBs

are Current

Users of

Social Media

5% are Future

Users


86

90%

72%

53%

39% 33%

27%

8%

LinkedIn Facebook Twitter YouTube Google+ Instagram Pinterest




88

Lead generation and social media are cited as

the main contributors to SMB growth

48%

43%

34% 32%

20% 17%

12% 12%



Lead Generation Social media and social ads



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 Genspend next year

Plan to increase Social Mediaspend next year



90


business, marketing effectively and hiring

25%

27%

34%

35%

50%


Managing cash flow





91

…. But social media helps SMBs overcome




customers”



84%

69%

“Social media helps my


new employees”

72%



information on LinkedIn


93


financial purposes



financial purpose


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








Awareness

Consideration

Purchase




95


1


checklists

2

Product performance updates

3

Customer success stories

6


4

Company background

5

New innovations and tech developments


96

Customer service and fees feature highly as factors to


Top 3



2. Rates and Charges 59%





17%

58%

25%



Stayed the same


9%

15%

18%

46%

52%

56%

65%

Press coverage










Almost all SMBs in the Middle East

use social media






making journey




and products








build confidence

1

2

3



Almost all SMBs in France use

social media







and products



and services, customer service, and to

build confidence

Contact us at https://lnkd.in/contact_us.

How SMBs in Europe are embracing social media...Customer stories and case studies 5 Peer ratings,...

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