Are you ready for Generation Z?

Is your business ready for Generation Z?

A few weeks ago, I wrote an article on how to market Millennials. Now it feels the right time to turn our attention to the next generation. Generation Z (or iGen'ers). Born between 1995, and 2012, this generation are currently aged between 8 and 25. This young generation is quickly becoming one of the most important groups for businesses and marketers to understand as they step into their long term business planning. As of 2020, this generation is the largest group of consumers worldwide, and whilst they are a young group, this group already influences 93% of all household purchases (especially when related to food, travel, and household goods). 

Why should you care about this group? 

After all, it is commonly agreed that marketing to youngsters with no buying power is ethically debatable and frowned upon. Indeed Susan Linn, director of the Campaign for a Commercial-Free Childhood, questions the very nature of child marketing, in a Guardian article, she is quoted as saying;

"There's no moral, ethical, or social justification for marketing any product to children."

Well, I am not suggesting that you begin to target such a young group as part of your marketing strategy. But I am suggesting that you ensure that your business and marketing strategies are ready for this group as their buying power grows over the next ten years. For some businesses, this means addressing the holes in your marketing now.

What do we know about them?

They're digital natives

They have never lived in a world without instant search results, a wealth of information at their fingertips, and using a computer (or more likely a smart phone!) wasn't standard practice. Nothing less than digital excellence will ever be accepted by this group

They are experts in social media 

And social media marketing techniques; and understand the difference between an authentic brand interaction (e.g. a celebrity endorsing a brand outside of a paid partnership) and a paid-for interaction (paid social media adverts, sponsored posts). Before going shopping, they will check reviews, check out what they see on their social media feeds and when shopping they will get real-time feedback from their friends on what they are thinking about buying through social and WhatsApp. 

Really understanding the role that social media plays in building your brand will have never been more important.

They take less risks

Their process for purchasing is more thought out and influenced by their wider world because they are more cautious and less likely to take risks. CareerPlanner.com says:

"Whereas Millennials were raised to think they were special and that they could become anything they dreamed of, and then after graduating they found that Boomers had let millions of jobs slip out of the country, iGen'ers have seen this, and are far more cautious and less optimistic and maybe less naive."

Brands will need to work harder to encourage trial. Where Gen Z's are comfortable, getting them out of their habits will require working people they trust (influencers), and delivering products they believe in.

They have a (really) short attention span

They need instant gratification. Growing up with a smartphone always within easy reach, this generation is the least likely to be confident in face to face interactions. Part of what this then means is they are likely to have less patience for human 'thinking' and will have a desire to access information, and answers as quickly as possible. Brands will need to respond with quicker content, slick communication and perfect digital and real-time execution.

They will need more reassurance

This generation is growing up more protected than other generations. This will mean that they will need more support for major changes they make. Perhaps it will be buying a house, or selecting a university. But brands may need to adjust their marketing strategies to focus more on content and media delivery which instils trust, and helping, rather than heavy push strategies.

Their racial barriers are becoming nonexistent

According to HuffPost, this group, more than any will have "conviction in diverse races and religions and believe people can coexist in society.”  Gen Z are predicted to be the most tolerant and welcoming generation yet! Hallelujah! Therefore brands need to stop just talking about being inclusive and be inclusive (in their workforce and their campaigns) to have cut through with this generation.

Gen Z's or iGen'ers are a really exciting group, that marketers and businesses are still only really starting to understand; but one thing we do know is that this group (who have grown up in times economic and political uncertainty - not to mention a global pandemic) are going to be shaping the next stage of business and marketing strategy as businesses develop their services and products for the years ahead.

If you need help getting your business ready for Gen Z, get in touch at hello@marketingwithpassion.co.uk