Business Marketing

Adapt your market targeting from millennials to Gen Z

teenager gen z

(MARKETING NEWS) Gen Z will have more purchasing power, and be more prone to spending than the generations before them – time to adapt.

Time to refocus

Research on Gen Z is increasing as they graduate and enter the workforce. The biggest misconception is that they are just another kind of millennial. In fact, they are similar to the generation raised during the Great Depression.

And while they might share dependence on technology and short attention spans with the millennial crowd, some trends in Gen Z are remarkably different. Marketing strategies need to be adjusted accordingly.

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Trying to get Gen Z on the phone?

Unlike millennials, Gen Z does not prefer all the digital interactions available. They are more likely to use click-to-call features, especially after texting or chatting first.

Once on the phone, though, the Gen Z cohort is more likely to hang up quickly, curse at the person on the line, or be frustrated if there is no immediate answer.

In a world where there are several avenues of communication with a company, Gen Z seems to want a more personal touch.

But they are more impatient about waiting for it.

Why does it matter?

This impatience and short attention span are tied to Generation Z being the most plugged in group, like, ever. “Gen Z consumers can be speaking to a customer agent, research everything that agent is saying and simultaneously tweet about how great or awful their experience is,” Sabrina Gravlee, Analytics Manager at the Marchex Institute.

Millennials, who prefer to make even large purchases digitally without any face-to-face or phone contact, got a lot of people thinking that was a trend that would change everything, and permanently. No car lots, no cashiers, no person-to-person selling. And that still might happen. But the Gen Z research suggests that a balance might be struck finally.

Perhaps the millennials were the opposite end of the pendulum from their baby boomer parents, and now we are back in the middle ground.

Marketing strategies on fleek

In any case, businesses would be wise to consider a hybrid approach as Generation Z becomes a bigger part of their consumer bases.

Some sources predict that they will have more purchasing power, and be more prone to spending than the generations before them.

“The faster businesses can understand the patterns and preferences of Generation Z, the faster they can gain footing with this next wave of consumer growth and ensure their own success.” say Gravlee.

Companies who adapt quickly to their youngest potential customers will be ahead of the game as we see Gen Z grow into their consumer status.

See the full report here.

#GenZ

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