As you target your niche markets, you might want to be planning ahead for opportunities and how to effectively reach these new target markets.
A group to watch right now is the tween/teen (ages 8 to 18) market. This group already has a huge influence on what their family purchases and have a significant amount of disposable income.
Flash forward a short 10 years to 2020.
These same tweens will be in the desirable and much-marketed to age group of 18 to 28. This is a segment to be watched. According to Kaiser Family Foundation’s research in 2009 entitled Generation M2 Media in the Lives of 8- to 18-year-olds:
This age group uses electronics, on average, for 53 hours per week. And, because they are often multi-tasking (video games while texting, surfing the Internet while watching TV, etc.) they are actually managing to access about 10 hours and 45 minutes of media into the 7 hours and 38 minutes per day that they are using electronics.
- 32% of their time is spent watching TV
- 25% of their time is spent on a computer
- 20% on a mobile device
- 6% on a radio
- 6% with print media (like magazines, newspapers, etc.)
- 5% on a console video game
- 4% in movie theaters
- 3% with CDs
Other interesting takeaways include:
- This age groups spends about two hours a day with media on a mobile device such as a cell phone.
- They spend about an hour per day online viewing television or music content that many older demographics use a television or radio to view.
- Cell phones are used less frequently for conversations than accessing media.
- In their bedroom, over 70% of this age group has a television while about 33% have a computer with access to the Internet.
- Heaviest media users are those ages 11 to 14, African-American and Hispanic youths.
The message to take away from this is that in 10 years, the media mix is going to be heavily targeted toward these online media. If you want to reach the next big wave of first-time home buyers, you’re going to have to be tech savvy.
Will you be prepared to target the 18-28 age group in the next decade?