Millennial small and midsize business (SMB) leaders are more likely than Baby Boomer SMB leaders to spend their marketing budgets on digital channels, such as social media and video, according to recent research from Magisto.
The report was based on data from a survey of 218 Millennial (age 28-29) SMB owners/leaders and 275 Baby Boomer (age 60+) SMB owners/leaders.
Millennial respondents spend more than half (58%) of their marketing budgets on digital channels, on average.
Baby Boomers spend only 14% of their marketing budgets on digital channels, on average.
Some 68% of Millennial SMB leaders say they rely on social media ads to build brand awareness; 27% of Baby Boomer SMB leaders say they rely on social media ads to build brand awareness.
Some 61% of Millennial SMB business leaders say they are using video as part of their marketing mix; 45% of Baby Boomer business leaders say they are using video as part of their marketing mix.
About the research: The report was based on data from a survey of 218 Millennial (age 28-29) small and midsize business owners/leaders and 275 Baby Boomer (age 60+) SMB owners/leaders.
