Who Has the Most Buying Power?

Who Has the Most Buying Power?

 

A recent social media survey showed that an average of 33% of Millennials (those born between 1980 – 2000) have increased their time spent on Facebook over the last year.  Less that 24% said they decreased their time.

Predictions can be inferred from that survey to encompass at least a confidence in the existing Facebook platform that the same audience is likely to see the same social network ads and branded content in the near future.  That logically should lead to better brand awareness and recall.

Facebook took about 13 years to slow down developing new features, but Snapchat got to that same point in just over 6 years.  Based on some market surveys, Snapchat use increased the most among social networks. There are still limits on this platform that do not indicate any explosion in usage coming anytime soon.  Good marketers keep a close eye on each social network, and how and what features are being added.  Each upgrade changes time spent online by the various categories of audience.

Who benefits most from any new feature?  You can always prepare for expected changes in the interests of your target audiences by ramping up your advertising and content strategies on that particular platform. Don’t just react to change,–be preemptive with your marketing.

It has been found that a large percentage of Millennials who watch YouTube ads skip them if they can, or they employ ad blockers.  This means that most in this age category do not fully view the ads that advertisers spend lots of money on.

The main takeaway from these facts should be to design everything that promotes your business to be fresh, creative, and specifically appealing to the age group your most want to target.  They are out there ready to use your product or services, but you must light the fuse to their explosive purchasing firepower.

 

winzoneduke@gmail.com

I have had at least a dozen different full careers in Southern California over the last 40+ years. These have been in 17 cities, and my reputation has thrived because of my passion and contributions to the businesses of those communities. I now seek to use my varied knowledge and experience to benefit other enterprises looking for success in the Business World.