When you were a teen, you wanted to know where are all the cool kids are hanging out? As a business owner, you still want to know–that is, if you’re marketing to teens in your marketing campaigns. Whether teens are spending mom and dad’s money or their own, the latest Piper Jaffray report on teen spending says most of their spending goes to food and clothes (no surprise there). The study also found social media drives sales for businesses: 85 percent of female Teen Vogue members said they have purchased something after seeing it on social media. According to the report, the most popular platform for discovering new items is Instagram; Instagram was also the winner when teens were asked “If you had to pick just one social network to use, what would it be?” and “What is the social network you’ll be talking about in the coming year?” Facebook, not so much. In fact, according to social media marketing company Nanigans, teens are the worst age demographic on Facebook in terms of revenue companies generate from them.
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Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email Rieva at email@example.com, follow her on Google+ and Twitter.com/Rieva, and visit her website, SmallBizDaily.com, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.