Millennials Drive Tectonic Shift In SMB Marketing
SMB marketing goals haven’t changed. Reid Genauer is the Chief Marketing Officer of Magisto highlights that as millennials take the helm of marketing budgets, the media mix, and tools and tactics of how they are accomplishing these goals is radically changing
It’s not trending, it’s not nascent, it’s now — every social media platform that matters has a video first strategy: Facebook alone has multiple video products including Facebook Live, 360 and most recently Slideshow. YouTube announced live streaming at Vidcon this year where they held court alongside Snapchat, Instagram, YouNow, Musicl.ly, and the list goes on.
Video has arrived and is here to stay.
In addition to mass consumer adoption, there is a tectonic shift happening in the ways SMBs are marketing themselves driven by millennials native understanding of the mechanics of social media in relation to social video. A recent report, “Unlocking The Most Powerful Shift in SMB Marketing” reveals a fascinating look at how millennials nuanced understanding of social media is driving dramatic change in SMB marketing at breakneck speed.
Social Media Is The New Mass Media
SMB marketing goals haven’t changed, they continue to focus on building brand awareness, generating new customers, and maintaining loyalty with existing customers. As millennials take the helm of marketing budgets, the media mix, and tools and tactics of how they are accomplishing these goals is radically changing. Their use of social media is eclipsing, and in many places completely replacing traditional marketing.
Within social media marketing, native social sophistication, the understanding of powerful nuances and social etiquette drive millennial’s success. In fact, not only are millennials 84 percent more likely to use social media than invest in print advertising, but they are also 136 percent more likely than baby boomers to create videos for social media.
Silicon valley has given businesses of every size and shapes the ability to express their message through video. Social media etiquette not only allows for but demands authenticity, which means lower production value is acceptable and maybe even preferred.
Culture Of Authenticity
Millennial SMB marketers understand the need to speak with authenticity in order to make a sale within social media. They understand the nuance of speaking to an audience versus speaking at an audience. Unlike their older colleagues who still create traditional product overviews, over half of millennials at SMBs lead with branded lifestyle video stories.
The younger generation understands that social media has a culture that requires storytelling, where baby boomers assume that traditional marketing content pushed through social channels is appropriate. Using traditional ad spots via social channels are like trying to sell Ginsu knives at a folk rock festival.
The Power Of Video
As social media continues to capture the ever-increasing share of mind and dominance in digital communications, the power of video is amplified by the younger generation’s innate understanding of audience targeting in relation to the platform appropriate content they create.
The survey found that SMBs are 60 percent more likely to post a video to Facebook vs YouTube. Facebook provides granular targeting and allows the marketer to push the content to an audience he/she knows it’s going to resonate with which makes the content more valuable and the ad spend more effective.
We are at the inflection point in the adoption of video marketing — driven by an understanding of the power of social video amongst the younger generation.
Social Video Is Exploding
Facebook reported nearly ten billion video views per day and recently announced that two million SMBs posted videos in the month of March 2016 alone. YouTube is bigger than ever with 85 percent of SMBs are currently using video or intend to use video in the near future.
Millennials at SMBs are get it. They are driving the next wave of marketing, and they are doing it with a massive amount of video narratives. SMBs who don’t embrace social video with the same gusto and acumen will be invisible. And unless you’re a superhero — that’s not a good thing.