1. How SMB’s in the Middle East
are embracing social media
2. 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.
3. SMBs in the Middle East are growing
…and are using Social Media
4. 72%
71%
have an increased number of
customers
have increased overall
revenue
have increased overall
profitability63%
4
SMBs in the Middle East are experiencing
widespread year-on-year growth
5. 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. 6
Almost all SMBs surveyed use Social Media for their business…
92% of SMBs
are Current
Users of
Social Media
5% are Future
Users
8. SMBs see Social Media as a key way
to meet their business challenges
9. 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 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 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 Gen
spend next year
Plan to increase Social Media
spend next year
Hyper-growth SMBs Growth SMBs Non-growth SMBs
11. 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. 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%
14. 14
have used LinkedIn for
financial purposes
46%57%
are already using Social
Media for at least one
financial purpose
15. 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 type
with a family member, friend, or colleague
Asked a financial professional for additional info about a
financial 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
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
Product performance
updates
3
Customer success
stories
6
Market and economic
commentary
4
Company background
5
New innovations and tech
developments
17. 17
Customer service and fees feature highly as factors to
consider when choosing a financial services company
Top 3
Consideration Factors
3. Brand & Reputation53%
2. Rates and Charges59%
1. Customer Service63%
18. 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
19. 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
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.
