Commissioned study
conducted by:
Priming the Economic Engine
How Social Media is Driving Growth for
Small and Medium Busin...
Why should you care about SMBs?
©2013 LinkedIn Corporation. All Rights Reserved. 2
SMBs contribute $5.5
trillion in annual...
Most SMBs have already adopted social media
3
81%of SMBs are Current
Users of Social Media
The #1 challenge for SMBs is finding new customers
©2013 LinkedIn Corporation. All Rights Reserved.
65%
State that attract...
SMBs use social media to learn
and share resources
TOP REASONS FOR
LEARNING*
Access a network
of peers
Learn from
industry...
Report Increased Social Media Spend
Hyper growth and increased spend on social media
are strongly correlated
6©2013 Linked...
47%
57%
59%
72%
73%
Social media is a top channel where SMBs in hyper
growth have increased spend
Base: Current Social Med...
TOP REASONS
Keep up-to-date on
financial trends
Gather preliminary
financial info
Seek advice on a
financial decision
1
2
...
Social media helps drive action
9©2013 LinkedIn Corporation. All Rights Reserved.
Path to Purchase
DISCOVERY
Gather info /...
SMBs want best practices and how-to guides
10
*Base:: Current Social Media Users
**Base: Those who expected info
Top 5 Typ...
LinkedIn is where SMBs are most open to financial info
11
*Base: Current Users of Each Social Media Site
©2013 LinkedIn Co...
Only LinkedIn provides the 4 C’s
©2013 LinkedIn Corporation. All Rights Reserved. 12
...providing a valuable resource across different
activities in the SMB value chain
*Base: LinkedIn Users
©2013 LinkedIn C...
Best practices for marketers
©2013 LinkedIn Corporation. All Rights Reserved. 14
Target hyper growth companies
Build your ...
Commissioned study
conducted by:
Thank you
15
The majority of SMBs are growing and one in six are
in hyper growth mode
16
GROWTH
Increase in Overall Revenue
Compared to...
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Priming the Economic Engine: How Social Media is Driving Growth for Small and Medium Businesses (SMBs)

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Small and medium-sized businesses (SMBs) are considered engines for economic growth, and with good reason. They account for 1.3 million business units in North America, generating approximately $5.5 trillion in annual revenue. Moreover, 8 out of 10 SMBs use social media, and 68% of them are using it to inform financial decisions — presenting a golden opportunity for finance marketers to deliver relevant, useful content. Find out how in this research study from LinkedIn and TNS.

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Priming the Economic Engine: How Social Media is Driving Growth for Small and Medium Businesses (SMBs)

  1. 1. Commissioned study conducted by: Priming the Economic Engine How Social Media is Driving Growth for Small and Medium Businesses (SMBs) 1
  2. 2. Why should you care about SMBs? ©2013 LinkedIn Corporation. All Rights Reserved. 2 SMBs contribute $5.5 trillion in annual revenue. Small businesses create seven of every ten new jobs. Young firms in growth mode are the largest contributors to job growth. 1 23
  3. 3. Most SMBs have already adopted social media 3 81%of SMBs are Current Users of Social Media
  4. 4. The #1 challenge for SMBs is finding new customers ©2013 LinkedIn Corporation. All Rights Reserved. 65% State that attracting new customers is their top business challenge 61%Find social media useful in gaining new customers 4
  5. 5. SMBs use social media to learn and share resources TOP REASONS FOR LEARNING* Access a network of peers Learn from industry experts Obtain insights and best practices 1 2 3 Use Social Media for Learning 49% 5*Base: Current Social Media Users
  6. 6. Report Increased Social Media Spend Hyper growth and increased spend on social media are strongly correlated 6©2013 LinkedIn Corporation. All Rights Reserved. Hyper Growth 73% Non-Growth 42% ©2013 LinkedIn Corporation. All Rights Reserved. 6
  7. 7. 47% 57% 59% 72% 73% Social media is a top channel where SMBs in hyper growth have increased spend Base: Current Social Media Users ©2013 LinkedIn Corporation. All Rights Reserved. 7 % of Hyper Growth SMBs Reporting Increased Spend Social Media and Social Ads Email Marketing Events Online Ads Offline Ads
  8. 8. TOP REASONS Keep up-to-date on financial trends Gather preliminary financial info Seek advice on a financial decision 1 2 3 SMBs leverage social media for financial services Have Used Social Media for Finance-Related Reasons 68% 8
  9. 9. Social media helps drive action 9©2013 LinkedIn Corporation. All Rights Reserved. Path to Purchase DISCOVERY Gather info / stay up-to-date CONSIDERATION Seek advice / info to make a purchase DRIVEN TO PURCHASE 37% DRIVEN TO ACTION (Learn / Discuss / Purchase) 93%
  10. 10. SMBs want best practices and how-to guides 10 *Base:: Current Social Media Users **Base: Those who expected info Top 5 Types of Finance Content expected on social but not received* 29% 22% 21% 20% 16% Best practices, how-to guides, checklists New innovation and technology developments New product information Company background Industry news/strategy information 29% 22% 21% 20% 16% Best practices, how-to guides, checklists New innovation and technology developments New product information Company background Industry news/strategy information
  11. 11. LinkedIn is where SMBs are most open to financial info 11 *Base: Current Users of Each Social Media Site ©2013 LinkedIn Corporation. All Rights Reserved. Openness to Receiving Financial Information On Social Media Sites* 57% 49% 47% 47% 45% 38% of hyper growth companies are receptive to finance content on LinkedIn 69%
  12. 12. Only LinkedIn provides the 4 C’s ©2013 LinkedIn Corporation. All Rights Reserved. 12
  13. 13. ...providing a valuable resource across different activities in the SMB value chain *Base: LinkedIn Users ©2013 LinkedIn Corporation. All Rights Reserved. 13 Open Innovation Marketing & Sales Sourcing Customer Service
  14. 14. Best practices for marketers ©2013 LinkedIn Corporation. All Rights Reserved. 14 Target hyper growth companies Build your credibility by facilitating open dialogue with SMBs Enable learning throughout each phase of the purchase path Provide resources for the entire SMB value chain
  15. 15. Commissioned study conducted by: Thank you 15
  16. 16. The majority of SMBs are growing and one in six are in hyper growth mode 16 GROWTH Increase in Overall Revenue Compared to Last Year 48% 36% 16% NON-GROWTH Decrease/No Change in overall revenue YoY HYPER GROWTH Significant Increase in Overall Revenue YoY

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