How Millennials are Changing the Future of Product Marketing
Although Mako is a product development firm, we love to provide help for people’s ideas by giving them future prospects as to how well their product could survive in the market once fully finished and developed. For this reason, it is always one of our highest priorities to always keep our eyes on new trends and patterns within the marketing realm. A newer form of marketing, millennial product marketing is beginning to arise as younger generations begin to dominate consumer roles within markets.
Therefore, the way in which businesses and companies need to market their products change, not just because profit is beginning to increase amongst millennials, but because products that are generally popular to millennials are what soon become popular to older generations. Below are four new trends in marketing that should be taken into account for when product marketing in the new age of millennial consumers.
The Rise of Social Media and Other Channels
A lot of inventors believe that once they have a product that works, it will be an easy journey to market and sell their product to major investors. However, before any investor is willing to invest in a product, they want to be sure that the product will be profitable. It’s always important to have the products functional viability at its highest importance, but its also important to have strong proof that consumers are interested in purchasing your product. In the new age of millennial product marketing, the most viable way to do this is to have social media channels with high amounts of followers and engagements that show interest in your product.
This is important because millennials in todays society measure the viability and popularity of things by the success of numbers they see on social channels. With strong social accounts you’ll not only have a stronger connection to your target audiences, reach to newer audiences, but viability to investors that your product is worth investing in due to the high amounts of interest and engagements garnered from your social accounts.
Faster, More Stimulating Content
With all the new forms of marketing and social content going out on social media and other digital channels, a growing trend that has changed amongst consumer audiences is that audiences (especially millennials) need faster, constant, and more stimulating content to grab their attention amongst the heavy amounts of digital content that is created everyday.
Therefore, the best ways to accomplish this in millennial product marketing is to create content for your marketing channels that exemplify your products functionality in quick, creative, effective, and aesthetically pleasing ways to capture your audiences’ eyes. The best ways and forms to do this are to market your product through videos and graphic designs – also by exemplifying the practicality and functional benefits of using your product.
Continuing from the last two points, a popular tactic used in social media specifically to advertise and market product is the concept of using influencers. Like celebrity endorsements, using social media content creators to market your products is a great way to reach younger and millennial audiences. Since these influential content creators typically have large amounts of followers, teaming up with an influencer to have them create content with your product and post onto their social channels can reach a large variety of audiences and fans who consume their content daily.
In millennial product marketing, using influencers rather than celebrities is important because influencers are not formally seen as celebrities, audiences feel like they can relate to them more, ergo, a product that an influential person that audiences can relate to is more likely to be more attractive for a person to want to have once they see a person they relate and trust is also using as well. Using influencers rather than celebrities are also much cheaper – which is ideal for start-ups and new businesses!
Memes and Comedy
A very new technique used in millennial product marketing is the concept of using ‘memes’ and comedy within product advertisements. Memes are defined as humorous images or videos shared on social media and the internet. Using humor in marketing is not a new concept but being caught up on what memes are trending in the online realm takes a lot of dedication seeing as how fast things move in the online world.
If you can incorporate popular and trending humor with your product marketing, your product and brand follow the relevancy of whatever is trending and becomes more relatable to audiences. This is a tricky tactic to use as some businesses want to keep their branding image more professional, but its important that audiences are more inclined to be interested in something that is similar to their interests and topics, which is why it is good to understand your target audience and market.
If you have a great new invention and you’d like to learn more about this process, get in touch with MAKO here and visit our website to find out more. Feel free to give us a call at 1-888-MAKO and we can set you up on a call with our product analyst!
Article Author: MAKO Design + Invent
MAKO Design + Invent is a full-service consumer product development firm servicing both high-growth corporate manufacturers and invention startups. With a 25-person team across 3 offices (Austin, England, Toronto), MAKO has complete in-house industrial design, mechanical engineering, and electrical engineering design and prototyping services. To assist our start-up inventor clients, we also have a subsidiary branch called Mako Invent that, in addition to above, helps start-ups with patenting, strategy, marketing, and sales/distribution for all consumer product categories. For our corporate clients, MAKO Design develops world-class consumer electronics designs through our industrial, mechanical, and electrical design teams.
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