Millennial SMB Owners Believe in the Power of Traditional Ad Formats
If you’re pitching traditional media formats to millennial small business owners, your job might be easier than you expect. We all believe that millennials, ad digital natives, have no interest in newspapers, magazines or radio. The latest research from The Manifest proves that’s not true. Millennial business owners are committed to advertising their businesses to succeed.
The 529 business owners who participated in The Manifest’s most recent survey appreciate the power of advertising and 87% spend money to get their message out to consumers. And, at least 95% of millennial SMB owners use promotions to attract consumer interest. In comparison, 92% of Gen Xers and 70% of baby boomers do the same.
The survey indicates that the typical SMB owner uses a range of advertising formats:
- Social media 64%
- Online 49%
- Print 36%
- Events 34%
- TV 22%
- Radio 22%
- Out-of-home 19%
Focus on Traditional
Overall, 57% of businesses use either print, TV, radio or out-of-home advertising. This statistic shows that SMBs believe in the power of traditional advertising. In addition, millennial business owners are more likely to use the following formats:
- TV 41%
- Radio 38%
Analysts theorize that many millennial-owned SMBs are just getting started. Because they’re likely in a high-growth stage of their business life cycle, they’re more willing to purchase advertising, both digital and traditional.
Digital and Other Formats
SMB owners also spend on event advertising, according to The Manifest survey. At least 35% of these businesses know that being present with messaging at community events can raise their profiles. Social media remains a popular advertising channel with SMB owners. At least 88% use Facebook, while 51% use YouTube.
To help your clients understand which consumers are most likely to take action after seeing an ad in a specific format, check out the AudienceSCAN profiles available on AdMall from SalesFuel.
And keep the following tip in mind when you talk to clients. At least 67% of SMB owners will try out a new advertising format this year. If you’re selling something a prospect hasn’t tried before, talk with them about the strengths of your format.