Marketing trends for small and medium-sized businesses (SMBs) are shifting advertising from traditional channels such as TV to social media and particularly online video, according to a Magisto survey.
The smart video storytelling application provider found that traditional marketing goals have not changed for SMBs, revealing that three out of four want to generate new customers and over half want to build customer loyalty and grow brand awareness. But, according to the survey, the way SMB marketers reach these goals is shifting drastically, driven mostly by the millennial generation, which is implementing new, more viral digital practices.
Millennial marketers were 84% more likely to use social media to promote their small businesses than invest in print advertising and were 136% more likely than baby boomers to create online videos for social media.
Alarmingly for the industry, the 2016 Unlocking The Most Powerful Shift In SMB Marketing survey also found that virtually no millennials marketing SMBs would invest in television advertising. By contrast, nearly one in three baby boomers marketing small businesses employ TV ads and other legacy marketing options.
“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 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 “Even when baby boomers use social channels, they’re publishing outdated product centric ads, and are missing their audience and the real opportunity by treating Facebook like late night local TV.”