Millennial-led SMBs defining new world order for marketing

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For Millennials at small and medium sized businesses marketing is all about digital with the emphasis on social. More than two-thirds of their marketing budget (68%) is spent on social media ads to generation brand awareness, and 60% of Millennial-led businesses use social media ads to drive revenue. That contrasts significantly with businesses run by Baby Boomers of which just 27% depend on social media ads to generate awareness and revenue.

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According to Magisto’s CMO, Reid Genauer, Millennials within SMBs are “defining a new world order for marketing” in which “they see the entire customer journey through a unified lens turning a system of fragmented consumer touch points into a holistic map that includes growing a brand and a business”.

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Magisto’s report, ‘From Main Street to Madison Ave Millennials Disrupting 50 year-old Balance of Marketing Power‘, also found that:

– 80% of Millennial business owners/marketers intend to use, or already use, video for digital advertising compared to just 40% of Baby Boomers;

– 41% of Millennials spend the bulk of their marketing budget on mobile media;

– For Millennials, agility and customer feedback is a way of being, not a concept;

– Millennials are 3x more likely than Baby Boomers to test digital creative and/or optimize ROI performance;

– Baby Boomers were 112% more likely to invest in radio than Millennials;

– 0% of the Millennial-led SMBs surveyed used television advertising.

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ABOUT THE AUTHOR

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.