Are Businesses Ready for Gen Z?
Move over Millennials. The next generation is quickly gaining buying power, and soon marketing tactics will move in their direction. They are estimated to have even lower attention spans than GenX, process information even faster than Millennials, and are even more entrepreneurial than Baby Boomers. They are expert multi-taskers, value independence, and have high expectations. They are progressively social and global, and have never lived in a time when the Internet was non-existent. Known as Generation Z, this group consist of those born in 1995 or later. It is estimated that they make up 25.9% of the United States population, contribute $44 billion to the economy, and will account for one-third of the population in three more short years. So, how can marketing adapt to this developing generation?
Stand Out in a Big Way
From birth, Generation Z has been bombarded with messaging, and they have a broad range of media at their disposal to work with. Being plugged in has not only shaped their creativity, but it has also (unfortunately for marketers) made their environment cluttered. Never before have businesses needed to stand out so much. Everything, from content to imagery, needs to be fresh, exciting, and eye-catching to grab this group’s attention.
Be Innovative in an Innovative Way
Generation Z kids are always looking for ways to be innovative. From setting up their YouTube channels to finding ways to stand apart from the crowd, they are always working with their environment. Social media is nothing new, but it gives marketing agencies a unique opportunity to work with it. If an agency can earn the respect of a Generation Z buyer by being connected and creative, they will have a customer for life.
Use Technology and Emotion Together
Relatability is authenticity for this group. Apparently, technology has played a big part in the development of Generation Z. Experts predict that because of this, traditional marketing that focused on general demographics will have to reroute their focus. Instead of age or race, businesses will need to look at emotions and connections. Evoking a feeling of connectivity will do far more for an advertising campaign than only speaking directly to a narrow subset of the population based on narrow parameters.
Have a Cause That You Care About, Like Really Care About
Whether it is global warming, anti-bullying, or animal rights, adopting a cause for your company and actively promoting it will connect more to this target audience than other traditional tactics. This generation wants to see a company’s authentic side, they want a business they spend their money with to have a cause, but they also demand that it be authentic. This group seeks to change the world, and they start with their wallets.
The reality of this future marketplace is that businesses and marketers alike will need to be adaptable, authentic, and comfortable with this changing pace. Their products and services need to line up with GenZ values, and embrace that standing out from the crowd is what it is all about, for both the company and the consumer.