The document analyzes how small and medium businesses (SMBs) in Europe utilize social media, highlighting that 91% of SMBs currently use social media, with LinkedIn being the most popular platform. It reports strong growth trends among SMBs, with 69% gaining more customers and 64% increasing overall revenue, and emphasizes the importance of social media in overcoming business challenges such as customer acquisition and hiring. The findings underscore the necessity for SMBs to maintain an active presence on LinkedIn for effective marketing and customer engagement.

1. How SMBs in Europe are
embracing social media

2. 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.

3. SMBs in Europe are growing
…and are using Social Media

4. 69%
64%
have an increased number of
customers
have increased overall
revenue
have increased overall
profitability58%
4
SMBs in Europe are experiencing widespread year-on-year growth

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
14%
50%
36%
GROWTH
Increase in overall revenue
compared to last year
NON-GROWTH
No change or decrease in overall
revenue compared to last year

6. 6
Almost all SMBs surveyed use Social Media for their business…
91% of SMBs
are Current
Users of
Social Media
5% are Future
Users

7. 7
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

8. SMBs see Social Media as a key way
to meet their business challenges

9. 9
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 in
customer numbers
Contributed to growth in
overall revenue
Social media and social ads
Other online ads
Offline ads

10. 10
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 Media
spend this year
Plan to increase Social Media
spend 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

11. 11
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

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”
79%
68%
Social media helps my
company source and hire
new employees
56%

13. SMBs are looking for financial
information on Social Media

14. 14
have used LinkedIn for
financial purposes
40%44%
are already using Social
Media for at least one
financial purpose

15. 15
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 a
financial product / policy / account type
Discussed a financial product / policy or account type
with 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

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
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

17. 17
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
3 month time-frame. LinkedIn: Feb 24th – May 24th

18. 18
Customer service and reputation feature highly as factors to
consider when choosing a financial services company
Top 3
Consideration Factors
3. Brand & Reputation48%
2. Customer Service54%
1. Charges and rates57%

19. 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

20. 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

21. 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.