connecting with your content - netherlands

Priming The Economic Engine: How social drives business growth and business decisions

Medium€5M to €29.9M

DEFININGmedium/large businesses

(annual revenue)

LargeOver €30M

2

This report explores the way in which medium and large businesses in The Netherlands make use of social media.

decision makers in medium and large businesses surveyed across the Netherlands

144

Key Findings

Social media is seen as a vital business tool88% of medium/large businesses currently use social media

Increased spend on social media advertising is directly attributed to revenue growth54% of medium/large businesses experiencing revenue growth have increased their spend on social media in the past year

Financial services communication and content resonate and drive action with LinkedIn members85% of medium/large business that use social media do so for financial purposes

3

Medium and large businesses are a highly attractive audience, and social media offers a unique opportunity to engage with them

A high proportion of businesses in the Netherlands are reporting growth in several key areas…

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

62%

50%55%

5Base: 144 medium/large businesses

GROWTHIncrease in overall revenue compared to last year

55%

37%

7%

NON-GROWTHDecrease/No change in

overall revenue YoY

HYPER GROWTHSignificant increase in overall

revenue YoY

6

62% of medium and large businesses in the Netherlands experienced growth in the past 12 months

Base: 144 medium/large businesses

7

Social media adoption in the Netherlands is well penetrated and usage is maturing


88%Of medium and

large businesses

currently use social media

5%Plan to use social media in the future

8

54%of those reporting revenue

growth have increased their spend on social

media advertising in the past year

40%of those reporting revenue growth suggest they will

increase their spend on social media advertising

in the future

…which is closely related to an increase in spend on social media advertising.

Base: 89 medium/large businesses experiencing revenue growth

% reporting that social media spend contributed to revenue growth

9

…with revenue growth widely attributed to an increased spend on social media advertising.

Base: 89 medium/large businesses experiencing revenue growth

Large businesses

35%Medium businesses

29%

10

Social media networks used

71% 35%

…with LinkedIn one of the most widely used networks.

Base: 133 social media users

68%83%

Many of these businesses tend to make use of social media for marketing purposes…

Base:144 medium/large businesses 11

Use social media to build awareness

Use social media to drive business growth

Use social media to increase sales

88%

83%

80%

Top 5 uses of social media for financial purposes

12345

Maintain a company presence and identity

Advertise to generate new leads

Generate word-of-mouth about my company

Deliver content and new information

Advertise to help increase awareness

35%

36%

39%

38%

44%

12

…and tend to see social media as a vital tool for advertising, recruitment, and generating business growth.


70% say social media is important for marketingtheir company

69% see social media as essential for the futureof their company

65% say social media is important for gaining and retaining customers

13

The most important challenge for medium and large businesses in The Netherlands is raising profit margins…

39%suggest that increasing

profit margins will be their most important

business challenge over the next year.

Keeping up with technology 20%

21%

27%

28%

32%

38%

18%

16%

Finding and hiring good employees

Getting credit/financing/access to funding for my company

Reducing costs

Attracting new customers

Increasing profit margins

Keeping up with technology

Retaining current customers

Challenges faced by businesses in the Netherlands

14

Social media is seen as an effective channel for marketingand driving business...along with impacting operational efficiencies and sourcing

Base: 144 social media users who access for specific business purposes

% reporting that social media is effective for…

Customer service support/ handle

complaints/retain customers

82%CUSTOMER SERVICE

52% FIND

VENDORS

Find vendors or companies that can help my company

86%RECRUIT

Find and source new employees

Deliver content and new information about my

company

84%CONTENTDELIVERY

88%DRIVING

AWARENESS

Maintain a company presence and identity

Social media (and LinkedIn in particular) is highly influential for medium/large businesses when choosing a financial services provider

15

have used social media for finance-related

reasons

85%

Top 5 uses of social media for financial purposes

16

Social media is widely used for financial purposes, particularly to keep up with current trends…

Base: 278 social media users

12345

Keep up-to-date on financial trends

Recommend a financial product to others

Gather preliminary financial information

Seek advice on a financial decision

Evaluate or re-think a previous financial decision

24%

25%

28%

26%

41%

17

This encourages businesses to take action based on the financial information they receive through LinkedIn…

Top 6 actions as a result of exploring content on LinkedIn

Base: 185 LinkedIn users

18

Path to Purchase

DISCOVERYGather info / stay up-

to-date

CONSIDERATIONSeek advice/info to make a

purchase

DRIVEN TO ACTION ON LINKEDIN

(Any action)

88%

Allowing users to discover and consider financial information on the network is vital to driving action…


19

DISCOVERYGather info / stay up-

to-date

CONSIDERATIONSeek advice/info to make a

purchase

DRIVEN TO PURCHASE ON LINKEDIN

(Insurance policy and/or investment product)

64%

…and also to drive purchases based on the information received through LinkedIn.


Path to Purchase

20

Businesses are more open to receiving financial information from LinkedIn than any other network.


% who actioned a response after receiving information on each network

74% 58%68% 53%

21

CREDIBILITY62% agree that LinkedIn allows them to build credibility.

CONNECTION43% agree that LinkedIn lets them connect with vendors or potential partners.

CONTEXT66% agree that LinkedIn provides a relevant context to promote and advertise their company.

COMMUNITY62% agree that LinkedIn provides access to a broader community of other companies to seek opinions.

This is due to LinkedIn being able to effectively provide businesses with the 4Cs…


22

...which offers a valuable resource across different activities in the value chain.

Marketing & Sales

Sourcing

Open Innovation

Customer Service

30%

22%

24%

22%

28%

39%

32%

31%

30%

30%

Top 5 types of financial content expected on social media

Providing more information in-line with business needs may help to provoke greater exploration of content…

New product information

Industry news / strategy information

Networking opportunities

Market and economic commentary

Finance events


Information actually received through social media

Information expected to be received through social media

KEY

23

Build your followers

Encourage referrals and recommendations

Provide real-time assistance

Build community

Publish thought leadership

LIKE▪

SHARE▪

COMMENTFOLLOW INMAILSPONSOR

UPDATE

24

GROUPS

…which allows us to build relationships with businesses through various touch points on LinkedIn.

25

v

Best practices for marketers

Enable learning throughout each phase of the purchase path

Fulfill unmet content needs

Provide resources for the entire SMB value chain

Build your credibility by facilitating open dialogue with these businesses

“We have improved communication with customers, which gives us a better picture of their needs. Also found a few new business partners through social media and acquired new customers.”

- Large business, Manufacturing/Industrial sector

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