When it comes to demographics, few groups are quite as large as millennials. As a result, a number of companies target their products directly at this young and savvy generation.
It's estimated that millennials make up as much as 25% of the entire population within the United States and their purchases account for more than 20% of all consumer purchases. Undoubtedly, making your product appealing to this group can help you yield high returns. With this thought, the question often becomes – how can you make your product more appealing to this group? While it's not necessarily easy, there are a couple of tips you can consider to help make your product more appealing.
Consider adding a technological component to your product. The average millennial likely has a smartphone, a laptop, a tablet or in a lot of cases, all of these devices at once. A technological component will allow your consumers to control certain aspects of their product right from their device, which is especially convenient and appealing in this technologically advanced era.
Take a multi-vitamin formulated specifically for this age group, for example. A unique way to add a technological component would be to allow customers the opportunity to record and track their diet and exercise habits with an app or exclusive website access. This small feature could help boost the appeal of your product for this group. Consider partnering with a popular fitness program if marketing one yourself is not possible.
Quality Is Key
Quality is important for any demographic, but it's especially important for millennials. One reason for this is the fact that you could say this group has grown up in a more polished era. Through years of testing and experience, many of the kinks and nuisances that were once common have been discovered and weeded out. For example, while computers are still vulnerable to viruses, there are a number of measures, such as firewalls, that are in place to protect them against threats.
Twenty years ago, this quality feature was nonexistent or not nearly as sophisticated. Millennials demand high quality products because they have grown up believing that quality is necessary. This group is also known as a microwave society; if this group isn't met with the highest level of quality within their first experience, they are less likely than older age groups to give your product another chance.
Successfully targeted your product toward this demographic can be especially beneficial for your profits and your ability to create a return customer. Make sure you're considering the needs and wants of the millennials for your greatest chance of success. For more information on design, contact a company like Arc and Co.