Millennials Disrupting Age-Old Balance of Marketing Power, Survey Says

MENLO PARK, Calif.–(BUSINESS WIRE)–Millennial small and medium sized business (SMBs) leaders are redefining
the advertising industry’s marketing approach with a digital-first
shift, according to data from a new SMB survey.

The new survey report, From
Main Street to Madison Ave. Millennials Disrupting 50 year-old Balance
of Marketing Power
, was released today by Magisto,
the world’s most popular smart video storytelling application.

The survey found that millennial business leaders at SMBs are executing
digital-first marketing programs and spending more than half (58%) of
their marketing budget on digital media. These efforts are causing
businesses of all sizes to reconsider traditional marketing strategies
and tactics.

Additionally, the survey found 68 percent of millennials depend on
social media ads for generating brand awareness and 60 percent leverage
social media ads to drive revenue. In contrast, only 27 percent of baby
boomers depend on social media ads for generating awareness and revenue.

“Millennials at small and medium sized businesses are defining a new
world order for marketing that is digitally native, social-first and
driven by video,” said Magisto’s CMO, Reid Genauer. “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. Unlike more traditional predecessors, millennials drive
all marketing functions via digital channels, with a focus on social
media.”

“The data suggests that businesses of all sizes should look to digitally
native millennial marketers to better understand the changes in the
marketing industry and to outline a roadmap for spending massive legacy
marketing budgets in new ways,” added Genauer.

Additional key findings in the report include:

  • Embracing the Digital-First Strategy. Nearly half (41%) of
    millennials spend the bulk of their marketing budget on mobile media.
  • Failing Fast is the Code for Success. Millennials see agility
    and customer feedback as a way of being and not a concept. They are 3X
    more likely than baby boomers to test their digital ad creative and/or
    optimize ROI performance.
  • The Video Marketing Revolution Will Not Be Televised. Eighty-eight
    percent of millennials currently use or want to use video for digital
    advertising; vs. only 40 percent of baby boomers.

Digital media, mobile computing and video have created a shift in
commerce that defies tradition; a cultural shift exponentially larger
than that of the 1960s and the upheaval of marketing and advertising
that requires a new play book. In order to better understand small and
medium sized businesses current marketing strategies, Magisto surveyed
small and medium sized businesses about their digital/mobile marketing
strategies and tactics.

For more on the findings of From Main Street to Madison Ave.
Millennials Disrupting 50 year-old Balance of Marketing Power
,
download the full report.

About Magisto:

Magisto is the world’s most popular smart video storytelling application
that uses Emotion Sense Technology™, a patented story detection that
automatically analyzes and edits raw video footage and photos into
movies, making everyday video
storytelling
easy and fast for consumers and businesses. Marketers
can use Magisto’s Smart Storyboard to create video content optimized for
platform, audience and creative without any knowledge of video editing.
Magisto is available for iOS, Android, PC and the Web. For more
information, visit Magisto.com, Magisto.com/business or finds us
@magisto. It’s not magic, it’s Magisto.

Laisser un commentaire