smbfinservemiddleeastdeckfinal-150616103423-lva1-app6892 (1)

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.