Are Small Business Owners Overlooking a Crucial Segment?

Date: June 25, 2015

Most small biz owners’ marketing efforts don't target an influential group: millennials.

Much digital ink has been spent trying to figure out how to market to millennials, but a new study shows that many businesses might not even be taking the first step. Only 15 percent of small businesses market specifically to millennials, according to a recent Manta press release

Of the 85 percent of small business owners who aren’t thinking about millennials in their marketing efforts, the reasons include: 

  • Lack of budget (26 percent) 
  • Millennials aren’t key buyers of their industry (25 percent) 
  • Doubts that marketing to millennials works (7 percent) 

The small business owners who do market directly to millennials largely use social media (55 percent) to reach the audience. And at 63 percent, Facebook is the most popular method to reach millennials via social media, followed by LinkedIn at 18 percent. 

For those skeptical about the overall effectiveness of such efforts, the release says that 80 percent of small business owners who target millennials see positive results. 

“Trying to reach millennials may be daunting, but the payoff can be significant,” said Manta’s CEO John Swanciger in the study’s release. “Ignoring this important audience not only risks alienating a large market of potential customers, but also represents a failure to embrace those who will become the next generation of small business leaders.”

Leaving millennials out of your marketing efforts for much longer might be unwise. Consider that the generation, generally defined as 18-to-34-year-olds, already makes up the largest share of the workforce—more than baby boomers and Generation X. 

Unsure about how to incorporate millennials into your marketing plans? Check out NFIB’s feature about how to entice the increasingly influential millennial generation

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