how smbs in the middle east are embracing social media [2015 research]
TRANSCRIPT
How SMB’s in the Middle East
are embracing social media
Who did we survey? 260 Decision-Makers
in Small and Medium
Businesses (SMBs) across
Bahrain, Kuwait, UAE, Oman,
Qatar and Saudi Arabia.
How are SMBs defined? Businesses with:
• Less than 500 employees
• Less than 20 million AED
annual revenue
This report explores how Small and Medium Businesses (SMBs)
in the Middle East make use of social media.
SMBs in the Middle East are growing
…and are using Social Media
72%
71%
have an increased number of
customers
have increased overall
revenue
have increased overall
profitability 63%
4
SMBs in the Middle East are experiencing
widespread year-on-year growth
HYPER-GROWTH Significant increase in overall
revenue compared to last year
5
16% of SMBs report that they are currently
in a hyper-growth phase
16%
55%
29%
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
5% are Future
Users
7
90%
72%
53%
39% 33%
27%
8%
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
SMBs see Social Media as a key way
to meet their business challenges
9
Lead generation and social media are cited as
the main contributors to SMB growth
48%
43%
34% 32%
20% 17%
12% 12%
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 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
Hyper-growth SMBs Growth SMBs Non-growth SMBs
11
Top challenges currently faced by SMBs relate to generating
business, marketing effectively and hiring
25%
27%
34%
35%
50%
Marketing and advertising effectively
Managing cash flow
Increasing profit margins
Finding and hiring good employees
Attracting new / retaining current customers
12
…. But social media helps SMBs overcome
some of their key challenges
“Social media is important
for retaining/getting new
customers”
“Social media is important for
marketing my company”
84%
69%
“Social media helps my
company source and hire
new employees”
72%
SMBs are looking for financial
information on LinkedIn
14
have used LinkedIn for
financial purposes
46% 57% are already using Social
Media for at least one
financial purpose
15
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
Contacted a financial representative
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
Conducted additional research on a financial product
Learned of a financial product was not aware of
Shared info about financial trends/products/companies
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
16
Top 6 Impactful Types of Financial services Content
1
Best practices, How-To-guides and
checklists
2
Product performance updates
3
Customer success stories
6
Market and economic commentary
4
Company background
5
New innovations and tech developments
17
Customer service and fees feature highly as factors to
consider when choosing a financial services company
Top 3
Consideration Factors
3. Brand & Reputation 53%
2. Rates and Charges 59%
1. Customer Service 63%
Transparency and clarity as well as direct experience with a
provider, are key to increasing the confidence of SMBs
17%
58%
25%
Confidence in the Financial Service industry in the past 12 months
Increased confidence
Stayed the same
Decreased confidence
9%
15%
18%
46%
52%
56%
65%
Press coverage
Conversations with friends / family / colleagues
Visibility of employees
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 the Middle East
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
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.