With an aggregate income of more than $600 billion, young consumers have money to burn. The buying power of America’s 15- to 29-year-olds, who love to shop and spend, has made them the ultimate target group for the producers and providers of goods and services. However, crafting marketing programs that reach this lucrative young consumer group has presented a unique challenge for marketing companies.
Raised on instant messaging and fast-paced video games, America’s young consumers are tech-savvy and tech-driven. Connecting with people who spend a significant portion of their day on computers and cell phones and look to the Internet for all their information has required marketing firms to develop new strategies to catch the attention of these consumers. Social networking is revolutionizing U.S. marketing. Product manufacturers and service providers who want to reach the lucrative young consumer market are adding Facebook, Twitter, My Space, You Tube and podcasts to their marketing arsenals.
Midwest restaurant chain Bob Evans is one long-established firm that is attempting to bridge the digital divide between its traditional family/senior customer base and young consumers who comprise the fastest growing segment of potential new customers. Consumers in their teens, 20s and 30s eat out more often and more regularly than any other consumer demographic. In an effort to attract their business, Bob Evans has teamed up with a students from nearby Ohio University to create a social networking campaign aimed at attracting young diners.
“Students are really into social media right now and are more actively learning new applications as quickly as they come out,” said Bob Evans Farms spokeswoman Chelsea Hamilton. “We’re challenged every day with keeping the brand relevant. And one way to do that is to understand how the younger generation receives messages,” Hamilton said in explaining the decision to partner with collegiates. In return for resume experience, the students will create Facebook and Twitter pages for the heartland restaurateur.
The trend to social networking as a marketing tool is growing. According to a survey by Shop.org, a unit of the National Retail Federation, 25% of U.S. retailers plan to create Facebook pages to boost holiday sales. Of those, 43% plan to add product videos and 33% will post customer reviews. Instant connection and interaction with consumers are among the unique advantages of social networking. “It’s about getting that raw feedback, an out-of-the-box site, and learning how to launch our business into that next step,” said Stephanie Busack, a digital marketing manager for Bob Evans.
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