Here’s a question for you: What’s the one item that a 28 year old person – male or female – is likely NOT to have in their home even though their parents probably do?
The answer: Cable television.
The Millennial generation has discovered that readily available wi-fi, streaming media, and tablet computers are a powerhouse combination that makes it very easy to cut the (very expensive!) cable TV cord.
The result of this discovery has been profound. Cable TV has just had its worst year on record, according to Business Insider, and experts don’t see the trend reversing any time soon.
Yet as cable TV’s star is falling, a new star is rising to take its place. The name of this star is social media, and it is social media that is proving to be the advertising channel to which the Millennial generation is most responsive.
The comScore research firm has discovered that Facebook ads, in particular, have been influential enough to sway car shopper’s opinions even after they’d partially committed to choosing an alternate vehicle brand. As discussed in this AdWeek article, the ability to reach a customer at a relatively late stage in their purchasing decision making process is fairly unprecedented.
What does this mean for your small business? Two things:
- It’s past time to reconsider television advertising’s real value in your marketing mix. Before you commit to any TV advertising, no matter how attractive the pricing appears to be, you want to be absolutely sure that your customers are actually watching that channel at the time your spot will be aired. Paying for commercials on traditional broadcast channels no one sees is not a wise investment. An alternative to consider is advertising on sites like Hulu or YouTube.
- Social media advertising is here to stay. The great news for the small business owner is that with a strategic approach, it’s possible to ensure that your advertising is seen by the customers most likely to respond to it. Social media offers business owners the ability to target their messaging by location, gender, and other demographic factors. Social media advertising has the power to disrupt the traditional sales cycle: great news for any business owner whose customers take their time deciding what to buy. It’s never too late to capture the sale!
Not familiar with social media advertising? Do you have ads on YouTube, Facebook, Twitter, and other social media platforms, but they’re not generating the types of results you want to see? We can help you make this powerful tool deliver impressive results. Give us a call and we’ll tell you what’s involved.