Marketing to Gen Z
Step aside Millennial, Generation Z is the focus. Gen Z is the most diverse generation yet; they are expected to comprise 32 percent of the global population in 2020, outnumbering millennial, who will account for 31.5 percent. For a long time, brand marketers have focused their efforts on attracting millennial consumers, a tech-savvy generation who tend to be driven by the entire experience of buying a product. Gen Z, motivated by purchases that stretch the value of money spent, hold the highest lifetime value of any consumer segment.
- Generation Z is digital natives, so marketers must act that way, too. Generation Z is the online generation so the best way to reach them with your marketing efforts is to market to them where they are, i.e. online.
- Creating quick, effective content to market to Gen Z is a perfect shot to grab customer perceived value. Gen Z has grown up in the era of online reviews and this generation is more likely to make a purchasing decision based on the positive reviews they read about the company.
- Influencers are an excellent addition to any Gen Z marketing efforts. This is because this generation follows influencers on their social media pages and trusts what they say about company products.
For eg: ScoopWhoop, BuzzFeed, TechnicalGuruji-YouTube channels, doing paid promotions of several products of various brands.
- Gen Z knows they have options when it comes to who and where they will spend their money. They are the first generation to grow up with access to a truly global economy. This means brands have to market themselves based on values, not product features, price and design.
Like millennial, Gen Z wants to make a difference in the world. Because of technology, they are extremely plugged-in and hyper-aware of all the challenges facing our planet. They are also expertly adept at blocking out marketing ‘noise.’ To succeed, marketers need to align their brand to a greater purpose with a narrative that captures the attention and imaginations of this upcoming demographic.