SMBs are driving Europe back to growth, and relying on social media to help them do it. Here’s how to put together a winning social strategy to reach them:

1. How SMBs in the Netherlands
are embracing social media
MIDDLE

2. 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.

3. SMBs in the Netherlands are growing
…and are using Social Media

4. 69%
61%
have an increased number of
customers
have increased overall
revenue
have increased overall
profitability54%
4
SMBs in the Netherlands 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
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. 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. 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

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

9. 9
Lead generation and social media are cited
as key contributors of SMB growth
42%
38%
33% 34%
15%
18%
8% 8%
Contributed to growth in
customer numbers
Contributed to growth in
overall revenue
Lead Generation 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
69%
38%
55%
43%
39% 37%
Plan to increase Social Media
in the next 12 months
Plan to increase Lead
Generation spend in the enxt
12 months
Hyper-growth SMBs Growth SMBs Non-growth SMBs

11. 11
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

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”
78%
73%
Social media helps my
company source and hire
new employees
67%

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 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 type
with a family member, friend, or colleague
Asked a financial professional for additional info about a
financial 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

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
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. 17
Rates and reputation feature highly as factors to consider
when choosing a financial services company
Top 3
Consideration Factors
3. Customer Service47%
2. Brand and Reputation48%
1. Charges and rates50%

18. 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 confidence
Stayed the same
Decreased 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

19. 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
1
2
3

20. 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.