Did you know that millennial business owners ages 18 to 34 are more likely to use social media for their companies than Generation X and baby boomer business owners 35 and older?
This is indicative of millennials’ higher personal usage of social media.
About 79% of millennial business owners use social media, while 65% of Generation X and baby boomer business owners combined use it.
Millennial-owned businesses use social media more because they see its value.
“The older people didn’t grow up with social media, so many don’t understand how to use it for their business,” said Shawn Alain, president of social media agency Viral in Nature when we asked him. “They went through a significant part of their life without even the internet, and they remember what it was like to not have a smartphone or email.”
Generation X and baby boomer business owners have lived – and possibly run businesses – before the age of social networks, so this group doesn’t always see the need for social media.
“Millennials, on the other hand, don’t know anything different and cannot imagine a life before the internet,” Alain said. “Millennials don’t know anything different and cannot imagine a life before the internet.”
Millennials’ greater personal use of social media means they are more likely to have social media profiles for their businesses.
For example, My Millennial Guide, a personal finance website that gives financial advice to millennials, was founded by millennial Brian Meiggs.
Meiggs knows of social media’s importance in reaching My Millennial Guide’s target audience.
“By posting topics that millennials are interested in, such as ways to pay off student loans or invest, more millennials learn about my brand and my website,” Meiggs said. “This leads to more clicks to my site and potential sales later down the road.”
Because millennial business owners, like Meiggs, understand social media and use it themselves, they can more easily post topics that appeal to their audience, which can eventually lead to a sale.
That being said, more and more people will start a business online.
In California this number is quite high as the entertainment state has a big appetite for anything new, modern and technological.
It is being said that California is a trendsetter in our always busy society and if things catch up here with the Millennials, they will spread around the globe.
If you have a business or you are thinking of starting one the social media provides the best alternative to document, learn and start generating revenue.