Ever since Facebook CFO David Ebersman admitted last October that young teens were visiting the site slightly less frequently, most have accepted as fact that young people are fleeing Facebook en masse. Ivy League researchers have forecast that the service will be all but dead by 2017; President Obama recently claimed that young people “don’t use Facebook anymore”; and when comScore recently reported that fewer college students were using Facebook, media outlets ran stories on the “social platforms college kids now prefer.”
But if you take a closer look at the data it tells a very different story. Sure, many data sources show that Facebook’s usage among young people has declined slightly — but the drops are small, and the huge majority of this audience still uses the site. For instance, that comScore report only found a three-percentage-point drop in college-aged adults’ Facebook usage and reported that 89% of this audience still used Facebook — far more than used any other social site.
To investigate teens’ social behaviors further, we recently asked 4,517 US online youth (aged 12 to 17) not just whether they use social sites like Facebook, Instagram, Snapchat, and Tumblr — but if they use those sites “about once a day,” “at least a few times each day,” or even if they were on any of the sites “all the time.”
“How can you reinvent your brand to appeal to younger consumers?” This is the million-dollar question, and the contestant sitting in the hot seat is you. But don’t panic; why not use a lifeline? Ask the audience! That was the approach car manufacturer Buick recently took when designing the 2013 Encore luxury model.
Striving to portray a more fun, contemporary side of the established auto brand and win loyalty among younger consumers, Buick promoted its "Pinterest to Dashboard" contest by calling on participants to create Pinterest boards that spoke to personal styles and passions. The Buick design team selected a winning collection to become the inspiration for the interior and exterior designs of the automobile. While this new look is not yet available on the market, Buick managed to connect with younger consumers in an exciting and relevant way. Through Pinterest, the company engaged 10 extremely influential bloggers (the winner of the competition has nearly 4 million Pinterest followers), dozens of lifestyle editors from media and publication companies, and millions of Pinterest users whose online responses indicated the winning pinboard.
Forrester’s Consumer Technographics® data suggests that Buick certainly chose the right platform to reach its desired market. Launched only three years ago, Pinterest is currently the third-largest social media platform in the US behind Facebook and Twitter. Of those 5.5 million US online adults who use Pinterest to research products for purchase, 65% are younger than 35 and 33% have an average household income of more than $100,000.