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Small businesses still struggle to measure social return on investment, and in general, they remain so-so about social. However, recent research suggests those targeting millennials are feeling the pull.
When an April 2015 study by Manta asked US small-business owners (SBOs) if they marketed specifically to millennials, just 14.8% said yes. Among the 85.2% who didn’t, 42.4% simply didn’t consider millennials a primary audience, and 23.4% weren’t sure how to reach this group. But the second group of respondents may want to do some research, as 80.2% of SBOs who did market to millennials reported seeing positive results.
Respondents noted the marketing to millennials required different advertising media/tactics and content (such as advertising copy or voice) as well as more personalization and engagement.
Social media was far and away the most popular channel SBOs used to reach millennials, cited by 54.9% of respondents. Websites/blogs and email followed. Unsurprisingly, Facebook was the top social platform, cited by nearly two-thirds as the most-used network for communicating specifically to millennials. LinkedIn, Twitter and Instagram were much less common.
February 2015 research by the American Press Institute, Associated Press and NORC at the University of Chicago found that 26% of US millennial internet users relied on Facebook for price comparison and researching products, and 18% used other social media sites.
eMarketer estimates that there will be 28.5 million 18-to-24-year-old social network users in the US this year, representing 95.0% of internet users in that age range. Among 25- to 34-year-olds, social network penetration among internet users will be 86.4%, or 35.5 million users.
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