Takeaways From Amazon’s Strategies for Younger Audiences
Amazon has recently added some features that could help drive business among teens and college students. They might inspire you if you're trying to figure out ways to boost revenue from age groups that might prove more important in the future.
Amazon knows who its future customers are—and it’s taking steps to get them started early.
Recently, the company announced two offerings targeted at attracting younger customers to both its online store and its Prime membership service. If you’re looking for ways to structure your own member offerings, you might want to take notes:
Monthly Prime plan for college students. Amazon, which is not an unpopular place to get textbooks, has long offered discounted yearly Prime plans to college students, but as any college student knows, it’s easier to make the case for a small monthly expense than a larger annual one if you’re only working part time and living off financial aid. So the company’s new $5.49-per-month Prime Student plan could prove a major boon to students who might benefit from both the free shipping and the free TV shows.
Special accounts for teens. Amazon, beyond shopping, is about making people’s lives easier, and allowing teens to shop for things using a parent’s account wasn’t exactly an easy thing to do. But the company recently announced a new class of account for teens that would allow them to shop for their desired items, but parents would get an OK before making the buy. “This is something … families of teenagers need,” Amazon Households Vice President Michael Carr told USA Today. “Today you’re either giving the teenager your credit card or you’re giving them the password to your account … This is the only way where the teenager has the independence while the parents are still in the know.”
For associations targeting younger members, ideas like these could translate to the bottom line pretty handily—both by encouraging future business among teens and young adults, and, on transactions where membership may not be the biggest financial perk, by maximizing revenue in other ways.
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