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BizReport : Advertising : June 24, 2015


Manta: SMBs missing Millennials

About half of the current workforce is made up of Millennials; the demographic is a growing percentage of discretionary spending as well, but many SMBs report they aren't focused on engaging this potentially lucrative demographic, according to new data from Manta.

by Kristina Knight

Some interesting takeaways from the Manta report include:

• 85% of SMBs are not specifically seeking out Millennials with their campaigns
• 42% say they don't target Millennials because Millennials 'aren't the primary audience' and 23% say they 'don't know how' to market to Millennials
• Most SMBs who try to target Millennials focus on social media (54%) or website/blogs (15%)
• Of those focused on social media, 63% focus on Facebook while 18% market via LinkedIn
• Fewer than 10% of SMBs are using Twitter or Instagram to reach Millennials

Why should SMBs take more care with the targeting of Millennials? Of those who have reached and engaged with Millennials, 80% say the results were positive for their business.

"Trying to reach millennials may be daunting, but the payoff can be significant," said John Swanciger, CEO, Manta. "Ignoring this important audience not only risks alienating a large market of potential customers, but also represents a failure to embrace those who will become the next generation of small business leaders."

The small business owners surveyed also say they believe Millennials will lead addition SMB entrepreneurship (65%) and about one-third (29%) say they plan to change their approach to begin catering to the demo.

Image via Shutterstock

Tags: ad targeting, advertising, demographic targeting, Manta, millennial marketing, SMB tips










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