Think again if you believe that marketing to millennials and Gen-Z is the same game. We are observing some significant disparities in how each member of Gen-Z budgets, spends, and saves money based on their beliefs and perceptions of brands and industries as they become older and enter the workforce. It is no secret that various influences, such as environmental and political events that may affect a generation’s viewpoint, mold each generation. We can also see how distinctively different each generation is in the era of the internet. Millennials and Gen-Z will soon make up most of our workforce and will have more purchasing power, therefore, it’s critical to brush up on their unique characteristics so you can develop marketing strategies that appeal to various demographics.
Let’s first look at the differences between Gen-Z and millennials. We may then go on to the variations you should be aware of while marketing to these comparable yet different generations. When it comes to marketing, Gen Z and Millennials have previously frequently been labelled as “digital natives.” For instance, this March 2021 Statista survey claims that 62% of Gen Z and Millennials made a purchase because of social media marketing, but it doesn’t make a distinction between the two generations.
Information on Millennials
• Between 1981 and 1995 in years. They are at ease with job hopping and are upbeat about the future. They were raised during an economic boom. Millennials desire more collaboration between themselves and their co-workers than their Gen Z counterparts.
• 20% of millennials are likely to hold bachelor’s degrees, but they may question the value of their student loan burden.
• Tech smart: as multi-screen users, millennials are renowned for being tech knowledgeable. They are the last generation to have experienced and can recall life before the internet and modern technology were considered necessary.
Facts about Generation Z: Born from 1996 to 2012
• In contrast to millennials, who were reared during an economic boom, Gen Z was born between 2007 and 2009. Because of this, they are more realistic than their millennial peers. Prefer work security over the freedom to consider a variety of jobs and employers.
• The majority of Generation Z prefers to be independent and has a “do it myself” mentality in the workplace. Gen Z likes to have their own workstation. As opposed to their millennial peers, who may prefer to work in groups and circles.
• 75% of Generation Z thinks there are ways to get a better education besides going to college.
• Tech intrinsic: the first generation to not have any memories of a time before the internet. They are more adept at navigating the internet world than their millennial counterparts. More likely to use up to five devices simultaneously (occasionally). The standards for how businesses and brands can cater to each specific market are determined by these generational disparities. Here are seven tips for marketing to Generation Z.
1. Prioritize values
Gen Z viewers give the company as much consideration as the product or service when engaging with a new brand on social media. According to 45% of Gen Zers, a brand’s “appearance of trustworthiness and transparency” is a key driver of engagement. So instead of making your social media marketing solely about selling. Express your beliefs clearly in your posts and tell as much of your company’s story as you can. For instance, a clothing firm targeting Generation Z should be open and honest about the materials used. The locations where they are produced, and the working conditions there.
2. Speak their language
The key is communication. Gen Z-friendly vocabulary is crucial. whereas the millennials don’t have such language. Follow Gen Z creators, check out their work, and pay attention to the slang, acronyms, and humour they use. Finally, slay off. One warning, though: this takes time, and attempting to be cool is never cool. Avoid using the language excessively (it sounds cringe-worthy) or attempting to impose it. Instead of the obnoxious stepdad, you want to be the hip aunt. What is the most effective technique to ensure that your material is written in Gen Z’s dialect?
3. Use the appropriate platforms
Make sure you’re using the same platforms as Gen Zers because the tactics above won’t work unless they’re really viewing your content. A useful resource for discovering which demographics utilise different social media platforms is Hootsuite’s Global Digital Report. Don’t overlook TikTok if you want to engage with Gen Z ladies. TikTok is the third most effective advertising medium for influencing Gen Z ladies’ purchase decisions, according to a 2021 Statista survey. Real-life endorsements, such as referrals from friends and family and observing a friend or member of the family using a product, are the only “channels” that outrank TikTok. Instagram advertisements and posts from IG influencers rate well. But Facebook and Twitter ads have a lower likelihood of persuading Gen Z women to part with their hard-earned cash.
4. Have fun
Gen Z follows influencers because they “create content and information in a really entertaining style,” says a Morning Consult report, and because “they give intriguing stuff in a more personal context.” Boring content is useless. Additionally, according to Gen Zers, having a charismatic personality or being amusing is the second most crucial quality in determining whether or not to follow an influencer. Lean in to Gen Z’s acute, perceptive, and frequently dark sense of humour (mindfully, of course). With this generation, it really helps to demonstrate your sense of humour. For instance, the celebrity responded with a TikTok that leaned into the humour after the weird rumour.
5. Collaborate with bloggers and influencers
To develop trust Working with the people that Gen Z trusts is a surefire way to sell to them (because it’s difficult to find all of their elder sisters, we’re looking to social media influencers). People between the ages of 15 and 21 are more prone than older people to follow a few or many influencers. Additionally, 24% of Gen Z women said that when looking for information on new things to purchase, influencers are the source they utilise the most frequently. Gen Z marketing can be accomplished quite successfully by working with influencers. It’s all a part of the “speaking the language” and “brand authenticity” business: Gen Z like to purchase goods from well-known brands that they have heard of from reliable sources.
6. Avoid allyship and performative activism
Putting on an act of activism while doing nothing to further the cause will not win you over with Generation Z, which is related to putting morals first. In fact, it might prohibit you. Nearly a third of Gen Z say they unfollow, hide, or block brands on social media on a weekly basis. According to Forrester’s Technographics data. The cause? When they detect a thin veneer, Gen Z don’t think twice about abandoning brands. Younger generations are more inclined to link a brand or company’s real-world impact on society to their purchasing decisions. According to a 2022 Forbes article, and they consider everything from ethical manufacturing processes to employee treatment to eco-friendly efforts and sustainability. There are many methods to actually support your community, including giving actual money, volunteering, attending marches and rallies, and elevating disadvantaged voices
7. Conduct a sale
Okay, this will work with any generation, Gen Z and millennials both are especially interested in discounts. Discounts were discovered to be the main driver of Gen Z customers’ social media engagement with a new business in May 2022. Therefore, hold a sale if everything else fails.
Also Read: Uncovering the Truth Behind Hindenburg Research: Is it a Legitimate Research Firm or a Short-Selling Looters?
Conclusion
As more and more members of Generation Z enter the workforce, we can clearly see how different their purchasing patterns and worldviews are from those of millennials. There are unquestionable parallels, and we might almost conclude that Gen Z consumers elevate millennial preferences and beliefs. For the next time you organise your marketing initiatives, have this piece close at hand. To give multiple platforms, content types, and other factors priority, highlight the market segment that represents your larger market. If there’s one thing we know about millennials and Gen Z, it’s that they’re not scared to change the world. They would probably appreciate companies who do the same. So don’t be afraid to experiment and try new things.
