Conventional marketing wisdom over the past two to three years has been that reaching out to the Millennials is critical for long term sustainability. However, as they gained the limelight from Generation X, who in turn superseded the baby boomers, there is already a new generation elbowing its way to the head of the table. Move over, Millennials, Generation Z is here. Is your marketing strategy ready the next generation?
Who Is Generation Z?
There is plenty of media debate about both the name and the exact dates relating to Generation Z. Most agree that it refers to those born around the turn of the millennium and others say it officially starts with those born in 1996 or later (which effectively means pre-teens to 21 year olds). So while Millennials are now entering the world of work and family life, Gen Z-ers are today’s teenagers and university students looking to effectively manage their student loans, or those just setting a first toe in the world of work but still living with parents.
The above might not make them sound like the most attractive target market in terms of wealth, but consider this: By 2020, Generation Z will account for 40 percent of all consumers. Failing to attract them and win their loyalty now could prove fatal for your business five years down the line. Saying “attract them” is one thing, but how can you do that? Here are three golden rules:
Remember The Eight Second Rule
You thought Millennials had goldfish attention spans? For Gen Z, you must cut to the chase even quicker. If you expect them to watch your video or click your blog post, you need to make sure they are absolutely clear on what the content is about and why it is of value to them. And you have just eight seconds to do it.
Influence The Influencers
Gen Z has grown up around influencer marketing, and probably knows more about it than many marketing managers, even if they don’t know it by name. Many have been building their social media reputations since they were preteens. This changes the business / customer dynamic to one of collaboration and partnership. Speak to them in these terms, or your customers might become tantamount to your competitors.
Add Value
The generation has grown up around fast, easily accessible online content and has a built-in ability to filter out promotional fluff and "sponsored content". Don’t even think in terms of “ads” (banner ads certainly aren't going to cut it) - instead, focus your energy on providing content that engages, entertains and has inherent value.
A Changing World
The world around us is constantly changing, and the marketing landscape changes with it. Generation Z encompasses those who are leading the change. Generation Z is set to have even larger spending power than the influential Millennial generation that came before them and changed everything. Businesses have two choices - join the ride or be left behind.
I hope you enjoyed this article about how to determine if your marketing campaigns are speaking to the new influential demographic: Generation Z.
Interested in more articles about marketing towards younger customers?
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Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business
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