July 17th, 2012
Rethink how you market to kids; they have big bucks
By David Bohan
Mom and dad may pay the bills, but children have increasingly more influence about where the money goes. Two distinct groups of young American consumers, tweens ages 8 to 12 and teens, are major market forces.
A recent AdWeek article reported that tweens have $40 billion in annual buying power, and the Teen Spending Behavior report from EPM Communications estimates that our 30 million teens spend more than $200 billion annually.
How should you market to this big-spending and potentially profitable demographic?
First, make sure you know the rules. Advertising geared to children must follow guidelines the Federal Trade Commission developed in cooperation with advertisers and their agencies.