Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Connecting with your Content - UK

1,709 views

Published on

How social drives business growth – and business decisions

Europe’s most influential businesses have a new way of doing business following the global economic downturn. And it’s called social media.

New research from LinkedIn and Join the Dots proves that decision-makers in large and medium-sized European businesses (those with annual revenues of £4 million or €5 million) see social media as fundamental to doing business –and as a crucial driver of growth. Social is used to acquire new customers, generate leads, deliver content to a range of different audiences and generate advocacy and word of mouth; but also to inform all manner of business decisions, to listen to market trends, to source talent and to deliver customer service. And it’s rated as highly effective by over two-thirds of decision makers in all of these areas.

Published in: Technology, Business
  • Be the first to comment

Connecting with your Content - UK

  1. 1. Priming The Economic Engine: How social drives business growth and business decisions
  2. 2. DEFINING medium/large businesses (annual revenue) Medium £4M to £24.9M GBP Large Over £25M GBP decision makers in medium and large businesses surveyed across the U.K. 2 This report explores the way in which medium and large businesses in the U.K. make use of social media. 300
  3. 3. Medium and large businesses are a highly attractive audience, and social media offers a unique opportunity to engage with them
  4. 4. The majority of medium and large businesses in the U.K. are experiencing widespread growth… Have experienced an increase in total revenue over the past year Have experienced an increase in customer/client numbers over the past year Have experienced an increase in overall profitability over the past year 69% 64%62% 4Base: 300 medium/large businesses
  5. 5. GROWTH Increase in overall revenue compared to last year 54%32% 14% NON-GROWTH Decrease/No change in overall revenue YoY HYPER GROWTH Significant increase in overall revenue YoY 5 68% of medium and large businesses in the UK have experienced growth in the past 12 months Base: 300 medium/large businesses
  6. 6. 6 Social media adoption is well penetrated and usage is maturing Base: 300 medium/large businesses 81% of medium and large businesses currently use social media 5% plan to use social media in the future
  7. 7. 7 60% Say they will increase their spend on social media in the future 50% Say they will increase their spend on social media in the future …which is linked to an increase in social media spend Base: 206 medium/large businesses experiencing revenue growth 61%of those experiencing hyper-growth have increased their spend on social media advertising in the past year 48%of those experiencing growth have increased their spend on social media advertising in the past year
  8. 8. % reporting that social media spend contributed to revenue growth 8 Hyper Growth 37% Over a third of businesses reporting revenue growth attribute this to increased spend on social media... Base: 206 medium/large businesses experiencing revenue growth Growth 37%
  9. 9. Reported motivations for using social media 9 88% 81% 79% 88% 81% 84% …while those companies experiencing hyper-growth are more likely to use social media specifically to drive growth. Build Awareness Increase Sales Drive Growth Base: 206 medium/large businesses experiencing revenue growth Businesses experiencing revenue growth Businesses experiencing revenue hyper-growth KEY
  10. 10. 10 Social media networks used 67% 32% of hyper-growth companies currently use LinkedIn 67% Two-thirds of these businesses are currently using LinkedIn. 73% 69% Medium Businesses are significantly more likely vs. Large Businesses Large Businesses are significantly more likely vs. Medium Businesses Base: 278 social media users 76%
  11. 11. Use social media to build awareness Use social media to increase sales Use social media to drive business growth 89% Social media is mainly used to build awareness, increase sales and drive business growth Base: 300 medium/large businesses 11 81% 79%
  12. 12. 12 Medium and Large business use social media to deliver content and maintain their company’s presence Base: 300 medium/large businesses Top 5 uses of social media: Medium Businesses 1 2 3 4 5 Deliver content and new information Maintain a company presence Generate word-of- mouth about my company Promotional purposes and to provide deals 41% 42% 48% 48% 49% Advertise to help increase awareness
  13. 13. 13 Social media is seen as an important resource for marketing and vital for the future of businesses Base: 300 medium/large businesses 70% say social media is important for marketing their company 65% see social media as essential for the future of their company 56% say social media is important for gaining and retaining customers
  14. 14. 14 The #1challenge facing businesses in today’s market is attracting new customers 58% say social media is a vital resource for getting new customers Retaining current customers 23% 23% 24% 28% 29% 31% 21% 16% Finding and hiring good employees Reduce costs Managing cash flow Increasing profit margin Attracting new customers Keeping up with technology Finding content on how I can improve my business
  15. 15. 15 Social media is seen as an effective channel for marketing and driving business...along with impacting operational efficiencies and sourcing Base: 264 social media users who access for specific business purposes % reporting that social media is effective for… Customer service support/ handle complaints/retain customers 68% CUSTOMER SERVICE 53% FIND VENDORS Find vendors or companies that can help my company 75% RECRUIT Find and source new employees Deliver content and new information about my company 78% CONTENT DELIVERY 78% DRIVING AWARENESS Maintain a company presence and identity
  16. 16. Social media (and LinkedIn in particular) is highly influential for medium/large businesses when choosing a financial services provider 16
  17. 17. have used social media for finance-related reasons 73% Top 5 uses of social media for financial purposes 17 Around three quarters of medium/large businesses use social media for financial purposes…. Base: 278 social media users 1 2 3 4 5 Keep up-to-date on financial trends Gather preliminary financial information Seek advice on a financial decision Evaluate or re- think a previous financial decision Recommend a financial product to others 15% 18% 35% 23% 41%
  18. 18. 18 Openness to receiving financial content and information on social media sites 48% 33% of hyper-growth businesses are receptive to receiving financial content on LinkedIn 53% 35% …and businesses are more open to receiving financial information from LinkedIn than any other network. Base: 300 medium/large businesses 29%
  19. 19. 19 CREDIBILITY 55% agree that LinkedIn allows them to build credibility. CONNECTION 63% agree that LinkedIn lets them connect with vendors or potential partners. CONTEXT 57% agree that LinkedIn provides a relevant context to promote and advertise their company. COMMUNITY 58% agree that LinkedIn provides access to a broader community of other companies to seek opinions. This may be due to LinkedIn effectively providing businesses with the 4Cs… Base: 185 LinkedIn users Medium Businesses are significantly more likely vs. Large Businesses Large Businesses are significantly more likely vs. Medium Businesses 72%
  20. 20. 20 ...which offers a valuable resource across different activities in the value chain. Marketing & Sales Sourcing Open Innovation Customer Service
  21. 21. 21 In total, 61% of LinkedIn users took action after exploring content on the platform… Top 6 actions as a result of exploring content on LinkedIn Base: 185 LinkedIn users
  22. 22. 22 % who actioned a response after receiving information on each network 61% 38%47% …with LinkedIn more effective than competitors at driving business behaviour. Base: 185 LinkedIn users; 203 Facebook users; 192 Twitter users; 90 Google+ users 54%
  23. 23. 23 Path to Purchase DISCOVERY Gather info / stay up- to-date CONSIDERATION Seek advice/info to make a purchase DRIVEN TO ACTION ON LINKEDIN (Any action) 75% Among business who use social media for both discovery and consideration, 75% were driven to take action from content they read on LinkedIn Base: 185 LinkedIn users
  24. 24. 24 DISCOVERY Gather info / stay up- to-date CONSIDERATION Seek advice/info to make a purchase DRIVEN TO PURCHASE ON LINKEDIN (Insurance policy and/or investment product) 38% …and 38% made a purchase based on information received through the network. Base: 185 LinkedIn users Path to Purchase
  25. 25. 22% 19% 18% 18% 18% 49% 46% 44% 42% 38% Top 5 types of financial content expected on social media Providing information in-line with consumer needs is likely to drive further exploration of branded content… New product information Company background Market and economic commentary Industry news / strategy information Finance events Base: 300 medium/large businesses Information actually received through social media Information expected to be received through social media KEY 25
  26. 26. Most valued content types among businesses experiencing hyper growth News and financial articles drive the most value for businesses in hyper business growth News/articles about other companies (77%) Industry specific articles (72%) Testimonials/ reviews from customers (70%) Information on financial products/services (70%) Base: 300 medium/large businesses 26
  27. 27. Build your followers Encourage referrals and recommendations Provide real-time assistance Build community Publish thought leadership LIKE ▪ SHARE ▪ COMMENTFOLLOW INMAIL SPONSOR UPDATE 27 GROUPS …which allows us to build relationships with businesses through various touch points on LinkedIn.
  28. 28. Nearly all business with revenues over £4M use social media. Business use social media for marketing as well as operational efficiencies Around three quarters already use social media for financial purposes Business are more open to receiving financial content on LinkedIn than any other social media site 38% opened a financial account after using LinkedIn for both discovery and consideration Summary of key findings 1 2 3 4 5
  29. 29. v Best practices for marketers 29 Enable learning throughout each phase of the purchase path Fulfill un-met content needs Target hyper-growth companies Provide resources for the entire business value chain Build your credibility by facilitating open dialogue with these businesses

×