Social networks are an essential tool for all companies, but especially for those small local businesses with a limited budget. And it is that these platforms have become the perfect way to distribute content and publicize the brand at a relatively low price.
However, there are significant generational differences. While older continue to prioritize print ads, radio or television when advertising their business, millennials give much more prominence to Facebook, Twitter or Instagram, as revealed by a new study of Magisto.
Thus, owners of young SMEs are 84% more likely to use social networking print ads to help reach new customers, and are 136% more likely than baby boomers to create video content on social platforms, while the latter are 112% more likely than younger people to invest in radio ads.
As explained from Magisto: “The millennials are the same as the largest basic marketing objectives but are exceeding a mix of more evolved means, more authentic, more sophisticated segmentation and better understanding of the potential of new tools such as video social. Even when the baby boomers decide to use those channels, usually published last fashion ads and too focused on the product, losing the opportunity to connect with consumers by treating Facebook as a TV show. “
The report also shows that 9 out of 10 millennials are using social media as the main marketing strategy for their companies, while 2 out of 3 baby boomer give more importance to television and other traditional media.Millennials also used much more frequently branded videos (generic content and lifestyle that you want to associate with the company) that advertising in the classic sense of the word, while among the largest owners is reversed.
The objectives remain the same, what is changing is the way to achieve them
The survey makes it clear that what they want, in the end, young and old, is the same: get new customers (for three out of four respondents is the main objective), build loyalty and increase brand awareness. What is changing, as we have seen before, it is how to meet these objectives, and millennials are turning to the use of platforms like Facebook, Instagram, Twitter and YouTube, and especially in video production?
And the video is also gaining great importance in recent years, and in fact, 85% of small businesses already use or intend to use the video in the near future. We would, therefore, at a turning point in the adoption of video marketing, which is due to a greater understanding of the potential of this format, especially among young people.
The strategy of small businesses, therefore, it would be moving towards creating and posting videos on social media. As for the most popular videos, SMEs are focusing especially on video how-to and product (50% and 43% of small businesses use them), but also in storytelling brand (39%) , a trend led by the young entrepreneurs.