Small Business Trends recently published an article that indicated that 68% of millennial owners rely on social media for promotion. (Millennials are people mostly in their 20’s and 30’s, by the way. ) 58% of their marketing budget is “digital”and 41% of their marketing budget is specifically “mobile”, according to Joshua Sophy.
So what does this mean to you? Not only are millennials the largest generation in terms of population, bypassing the boomers, but they are digital natives. Perhaps you noticed this from the glow of the cell phone lighting up their faces so often during the day. Understanding how they spend their time and what methods reach them best is important if your business targets generation Y consumers.
The take away: millennials are defining how marketing is conducted.
To understand the implication of the trend, learn more in Joshua Sophy’s article.
Source: Small Business Trends
Author:Robin Yerian. Robin studies Marketing and Business Administration at California State University, Northridge.