Social media marketing has become a valuable tool for small business owners. But the platforms they prioritize depends on their age.
When it comes to Instagram, 43% of millennials say they plan to increase their investment on the platform. The number goes down to 25% for Gen Xers.
The data comes from a report by Visual Objects written to give businesses a deeper understanding of the risks and benefits associated with different social media platforms. As well as providing an overview of the most popular platform in 2019 and how much they plan to invest.
Unlike traditional advertising, social media campaigns can be launched by small business owners. And it doesn’t require the same expertise and resources as traditional ad campaigns.
As the author of the report, Kelsey McKeon points out, it is a great way for small businesses to advertise. McKeon says, “Social media is a highly customizable and trackable marketing tool for small businesses, often requiring minimal time and financial investment up front.”
Adding, “Social media provides opportunities for small businesses to grow their brand authority and expand their audience.”
Choosing the Right Social Media Platform
The report says social media is an effective marketing strategy for 62% of small businesses. But choosing the right platform is key to getting the best ROI from your ad dollars.
According to Visual Objects, the nine most popular social media platforms present a set of challenges for businesses. Owners have to identify their needs in order to achieve their goals. This can be increasing website traffic, building brand awareness, growing followers or something else entirely.
For small businesses with small staff, the report recommends posting consistently on two platforms instead of occasionally on many platforms.
2019 Social Media Marketing Statistics
The vast majority or 88% of small businesses plan to invest more in social media channels. And this clearly shows the adoption of the technology and the value owners see in advertising on social media. Additionally, once small businesses have social media accounts they tend to keep them.
However, the channels they invest in varies depending on the generation of the company owner. Facebook is used by older users and Instagram and YouTube is preferred by younger entrepreneurs. But overall, businesses are investing to address the preferred channels of their audience.
Close to half or 48% of respondents are going to spend on channels Gen Zer’s prefer, Instagram and YouTube.
Still, Facebook is the overwhelming leader with 89% of businesses using the platform. Next is Instagram at 48%, followed by YouTube with the same number, Twitter 41%, LinkedIn 33%, and Pinterest 21%.
The Platform with the Biggest Investment
Once again Facebook is number one as 63% say they will invest more on the platform. But YouTube is next with 37% of the respondents.
The popularity of YouTube, which is being driven by influencers, is proving to be a valuable source for local businesses. Depending on the type of ad a business selects, the cost can be affordable with sizeable reach.
Instagram comes in at number three with 28%, followed by Twitter at 23%, LinkedIn 18% and Pinterest 10%. It is important to note, even with platforms which are not seeing more investment, your business can see great results. It is worth repeating, the industry you are in plays a big role.
Overall 25% of businesses are going to use influencers to deliver their message. And according to the report, influencers can replace online marketing agencies for businesses with a small budget.
But before you choose an influencer, make sure thoroughly vet them, their audience, and their price range.
The Social Media Marketing Statistics Survey
Visual Objects carried out the survey with the participation of 529 small businesses in the U.S. Fifty four percent of the companies have 1 to 10 employees, with the remaining 46% between 11 and 500 employees.
The respondents were made up of millennials (29%), Gen Xers (45%), and Baby Boomers (27%).
You can read the full report of 2019 social media marketing statistics here.
Image: Depositphotos.com
This article, "43% of Millennial Small Business Owners Plan to Invest More in Instagram Marketing" was first published on Small Business Trends
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