I bet that is not a title that you thought that you would ever read. To celebrate its 100th anniversary, Neiman Marcus splattered itself allover YouTube. You might be asking why an upscale retail store like Neiman Marcus would be advertising on YouTube, the home of teenage kids everywhere?
Well the answer is that YouTube is not just for teens and pre-teens anymore. YouTube has been aging along with most of the other social networks, and now attracts a more upscale crowd. Consider that almost 25% of YouTube visitors belong to households that make over $100,000 a year. Combine those demographic with the fact that YouTube is responsible for more than 21% of all online-video views then you can begin to see what attracted Neiman Marcus to the site.
Neiman Marcus, through its YouTube buy, is “making a concerted pitch, strategic pitch to young people to say, ‘We’re not your grandmother’s store — we’re your store, too,’” said Pam Danziger, founder of luxury consultant Unity Marketing. Young affluents are 40 and under; she suggested the luxury market is going to undergo a generation shift as significant as the one in the late 1980s and early 1990s, when the boomer generation grew into affluence.
That a retailer such as Neiman Marcus is tapping YouTube “is a sign that the media landscape has fundamentally changed for marketers,” said Suzie Reider, YouTube’s head of ad sales, via e-mail.
The landscape certainly has changed. Social networks will continue to see advertising revenue rise because the demographics of social sites are so good and advertising on them in relatively inexpensive. For example buying the home page on YouTube for a day generally costs about $250,000. For someone like Neiman Marcus, $250,000 is probably a rounding error on their total ad budget.
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