How SMBs in the Netherlands are embracing social media [2015 Research]
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Transcript of How SMBs in the Netherlands are embracing social media [2015 Research]
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.
69%
61%
have an increased number of customers
have increased overall revenue
have increased overall profitability 54%
4
SMBs in the Netherlands are experiencing widespread year-on-year growth
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
Almost all SMBs surveyed use Social Media for their business…
92% of SMBs are Current
Users of Social Media
6% are Future Users
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
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Lead generation and social media are cited as key contributors of SMB growth
42% 38%
33% 34%
15% 18%
8% 8%
Contributed to growth incustomer numbers
Contributed to growth inoverall revenue
Lead Generation Social media and social ads
Other online ads Offline ads
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 Mediain the next 12 months
Plan to increase LeadGeneration spend in the enxt
12 months
Hyper-growth SMBs Growth SMBs Non-growth SMBs
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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
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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%
14
have used LinkedIn for financial purposes
40% 44% are already using Social Media for at least one financial purpose
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 typewith a family member, friend, or colleague
Asked a financial professional for additional info about afinancial 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
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
Rates and reputation feature highly as factors to consider when choosing a financial services company
Top 3 Consideration Factors
3. Customer Service 47%
2. Brand and Reputation 48%
1. Charges and rates 50%
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 confidenceStayed the sameDecreased 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
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
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2
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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.