If your clients are among the many marketers who put all consumers under age 35 into one group, it’s time to give them a wake-up call. AdAge.com has just published a piece by Joline McGoldrick on the up-and-coming Generation Z. The oldest consumers in this demographic group are aged 19. They have money to spend, and they don’t shop like millennials do.
McGoldrick points out that, globally, Gen Z folks make up 27% of the total population. Marketers need to begin preparing strategies now on how appeal to these young consumers who will soon hold the purse strings to their own household budgets. As Gen Z members come to terms with establishing their buying habits, they’re exhibiting distinct characteristics.
Because these consumers grew up during the Great Recession, they understand the value of a dollar. They’ll invest time researching a product or service to be sure it’s what they want. Marketers need to provide plenty of information and opportunity to view a product in action in their promotional messages.
Members of Generation Z are not as eager to share their personal information as their millennial counterparts were. McGoldrick says “attempts at hyper-personalization often come off to Gen Z as intrusive.”
What’s a brand to do? Acknowledge that one-size-fits-all digital marketing doesn’t work for all audiences. We all know marketers were slow to shift to digital formats and personalization strategies to court millennials. Now, it’s time for another change. To reach Gen Z, your clients must develop campaigns that encourage interaction.
Gen Z consumers like to experiment and play digitally with brand offerings. Members of Gen Z, McGoldrick emphasizes, respond to calls for input. They prize being consulted and want their opinions to count. McGoldrick explains how Lego Ideas found success using this strategy.
Once brands prove themselves trust worthy, Gen Z consumers will engage and become loyal customers. Have you started talking with your clients about how they plan to approach Gen Z consumers?