RSS feed Get our RSS feed

News by Topic

BizReport : Social Marketing : May 25, 2016

Survey: SMBs keying into social

In the small business world, television and radio spots may be advertising goals, but social is a rising star. That's the word from a new Magisto survey which found that rather than shelling out tons of ad dollars for traditional media ad runs, small businesses are keying in to social.

by Kristina Knight

Social marketing is becoming a bigger player for smaller businesses. According to new Magisto data millennial SMB owners are 84% more likely to use social media to reach customers than print ads, and they are 136% more likely than Boomers to create social video content.

"Millennials retain the same basic marketing objectives as their older colleagues, but are besting their counterparts with a more evolved media mix, greater authenticity, more sophisticated targeting and an overall better understanding of new tools like social video," said Magisto's CMO, Reid Genauer. "Even when baby boomers use social channels, they're publishing outdated product centric ads, and are missing their audience and the real opportunity by treating Facebook like late night local TV."

Some interesting findings from the report include:
• 1 in 3 Boomer SMB owners use TV and other traditional media ad methods
• 9 in 10 Millennials use social as a leading marketing strategy
• Millennial owned SMBs are 183% more likely than Boomers to post video to Instagram
• Millennial owned SMBs are more likely to use branded lifestyle video to connect than straight advertising

Tags: Magisto, small business, SMB, SMB tips, SMB trends, social marketing

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.