As a Millennial herself, Andrea knew that BigCompany.com needed to evolve from the physical world to the digital world ... and fast! Upstart competitors were eating away at market share, convincing next-generation consumers that 'digital is better'. By collaborating with colleagues across functional and business units, a fully digital product was architected. Andrea was excited and exhilarated to bring to life the product that would transform the company from a laggard to a leader, but as she presented and proposed the approach, a flood of questions ensued. Would this new product drive renewed success or be an admission of defeat? Would a bold new approach shore up positioning solely with current customers, or among new customers as well? Would the investment in a digital approach pay off and, if so, how soon?
Andrea knew what to do. She had enlisted her research colleagues in the process, who suggested that concept testing would enable BigCompany.com to measure the potential success for a digital approach among current customers, lapsed customers and prospects. By engaging the Millennial experts at Ypulse, feedback on the concept could be collected, enabling Stephanie's product team to make last-minute refinements to ensure product / market fit prior to launch. Combining concept testing with market potential research would also provide accurate estimates on the likelihood of adoption and sales growth.
As anticipated, the launch of the digital product suite brought a much-needed boost to BigCompany.com. Next generation Millennial consumers, who had written the company off for dead, were impressed by how much deeper and more capable their digital product was in comparison to the products they'd tried in the past. As a result of her ability to reposition BigCompany.com as a market leader, Andrea's star continued to rise ...
The least you need to know about what's happening in the new Millennial influenced world.
It's not enough to know what. You need to know who and how much. And most of all, why.
Now, what does it all mean for your brand?