Thursday, May 6, 2010

Young People Down for a Change

With an estimated spending of $1.2 trillion a year, 14-34 year old consumers are a huge focus for advertisers. These consumers are cause-conscious shoppers and are nearly two-thirds more likely to respond to marketing campaigns that tie in a social cause or movement. Companies like Coca-Cola, HP, and GE are taking note and have switched their campaigns to more cause-related initiatives like the environment or education. Social media has also played a huge role in this as well. Most companies have a twitter and/or Facebook account. Since 14-34 year olds are some of the most active uses of SNS, it only makes sense to use this cost-effective medium to reach them about social cause and initiaitves. With many brands emersing themselves within the digital communities and capitalizing off of these social causes, it begs the questions: will consumers buy in to their new socially responsible efforts? Or will they just see it as another marketing tactic? Well, regardless if companies are motivated solely by potential profit or not, market growth has shown that campaigns like HP’s Power to Change (targeted towards college students) has indeed increase revenue for the company.

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