LinkedIn has published a new report on the state of SMBs, which looks at business growth opportunities, challenges in increasing business size, information sourcing, and more.
And there are some valuable insights in here for marketers looking to reach smaller businesses, with a range of notes on where SMB managers are seeking information, and what’s influencing their decisions.
The report is based on a survey of 4,287 employees of businesses with 400 employees or fewer. Which is probably pushing the threshold of an “SMB”, but even so, the insights provide some valuable notes on key elements, and a key audience for LinkedIn.
As per the report:
“SMBs are one of LinkedIn’s fastest growing and most engaged audience, with 150 million active on the platform today. In fact, SMBs’ engagement with content on LinkedIn has grown 25X in the last two years.”
As noted, the report looks at key challenges for SMB managers, and where they’re focusing their efforts.
It also looks at the specific areas of their business where they’re looking to spend to maximize efficiency:
So if you were seeking out new opportunities, the 10 employee threshold is a key growth point, which could present potential for your offerings.
The report also looks at where SMBs source relevant information:
While there’s also an interesting overview of how SMBs view social media, in terms of value for their business:
There’s a heap more insight like this in the full report, with more in-depth breakdowns of how SMBs rely on different sources for information and product sourcing, which could help to guide your outreach strategies to maximize opportunities.
You can download LinkedIn’s full, 42-page “Meet the SMB” report (created in partnership with Intent) here, with email sign up, and if you are looking to reach potential small to medium business customers, it’s a must-read.
