How Generation Z is affecting marketing trends in 2021.
Rumour has it Gen Z are going to be the reason businesses die on the high street and online, but before you start grabbing "the end is nigh" signs and closing the doors lets take a wider look at how Gen Z are going to be the ones to save businesses and all in all make the world a more sustainable place.
Generation Z accounts for 40% of all customers, and their buying power...phenomenal, they have money to spend, but unlike millennials and the generations before them they take more thought and care into the businesses they are spending their money with and there is many factors involved to gaining this generation as your customers!
Have you noticed over the last 5-7 years how focused company’s have become on creating a sustainable business when it comes to, how much plastic they are using and making sure their products are made and sourced responsibly. Gen Z have become one of the most caring and outspoken generations when it comes to human rights and environmental issues like global warming, animal extinction and fair trade, businesses have noticed this and put it front and centre when it comes to business & social media strategy. There is now dedicated businesses to help you reach the gen Z population https://fanbytes.co.uk/ being just one of them, they have used their expertise on how to market to Gen Z, they have found their niche and are great at what they do for business reaching out to to generation Z.
Your brand needs to speak 'authentic & original' in volumes, since generation Z has grown up with the internet at their finger tips, they can filter out quicker then anyone else what is worth their time and also what is not, Time is a precious currency for them.
One statistic out there is generation Z has an 8 second attention span ( also widely disputed) this statistic has nothing to do with 'being lazy' or 'not caring what is being said to them' It’s about all the options they have in front of them at one time. Another statistic is how well they can multi-task they can hold a conversation and take in that information whilst also engaging on social media or browsing online for the next trend better then any other generation.
Lets talk about diversity, equality and inclusivity, both millennials and generation Z have spoken up about all these areas they have forced the world to see where improvement has been needed for years and forced governments, businesses and their customers to think about how we view all these factors in our day to day lives. Businesses are now judged more harshly on their campaigns and in-store POS, is it diverse and inclusive, are they advertising to everyone not just one demographic, we have been forced into a needed global conversation about equality for everyone and how to market and cater to the global market!
Here is some needed statistics for businesses on social media click here to read the whole blog from hootsuite.
54% of social browsers use social media to research products before buying
Generation Z are online for 2 hours & 55 minutes each day
Answering a complaint on social media can increase customer advocacy by 25%
79% of consumers expect brands to respond within a day of reaching out over social media. Average brand response rates across all industries is 25%
54% of Gen Z says social media is their preferred channel for ad influence
79% of people say that user-generated content on social media significantly impacts their purchasing decisions
So from these statistics what we learn is free advertising is the best advertising, and if your going to be putting up a paid Ad campaign spend that extra time and effort getting it right for social media platforms, do the research first, A-B Testing, learn about your niche so your Ad can be targeted and reaching the people who will want to give you their money for your products. The online world is taking over and some companies have been one step ahead when it comes to the potential of social media and reaching their customers on the platforms, making their customer service available online their websites optimised so it is quicker and easier to shop for what they need and then checkout, and some companies are playing the catch up game which has been detrimental to their brands.
In summary your online presence as a business is so important! Make sure you have customer services available online with speedy replies & solutions, Generation Z responds positively to video ads on social media platforms but free advertising is key, people buying your products and showing them off on social media or reviewing them on social media persuades other people to come and shop with you! Make sure you have a branded hashtag to boost brand visibility! Generation Z can filter out fake advertising and they respond to original and authentic content. Being a sustainable company that helps the world reduce plastic and CO2 emissions, this speaks to Gen Z showing you are a caring business, but also why would it ever be bad to help the world we live in! Always consider Equality, inclusivity and Diversity within your business the more we think about it the less it needs to be a conversation, and it becomes the norm for everyone to live in a fair world, which i think it is about time things are fair!
I offer a range of social media services for businesses marketing to everyone ( not just Generation Z), one must have service we offer is a business analytics report giving you an outside view of your business to see what is and isn't working for you , but also what is and isn't working for your competitors! Feel free to contact myself on more information regarding the business analytics report.
Thursday, 20th May 2021