Industry News

Marketing for Millennials

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Millennials’ tastes and demands evolve quickly – dictated by changes in the economy and technology, which impact what they purchase and how long they use it. Selling to this demographic comes with specific challenges, including being able to respond to these fluid factors. It becomes important to find the constant in all that shifting. The Responsive Home project – which studies market trends – recently identified one such constant in the millennial marketplace: “value.” Kevin McJoynt of Gerber and Danze said it this way: “Millennials want high quality at a fair price.”

As we continue to innovate, we know that establishing value for our end users means providing products that cost or use less. A recent Nielson study further proved this, claiming that millennials are placing an emphasis on buying sustainable products. Those of us in the HVAC industry are no stranger to the concepts of sustainability and efficiency. It’s no surprise to see these younger consumers learning what we’ve known all along – it makes sense to invest a little more up front if value is delivered over the life of a purchase.

From the professional side of the table, this finding that millennials prize value is nothing earth-shattering, but will be helpful to keep aware of when working with this age group. Planning with millennials in mind will not only help us all appeal to this next generation of home owners, but will ultimately prompt us to keep improving…because we all know that millennials love innovation!