5 Things to Know About Marketing to Millennials and Gen Z
We have all heard the talk about Gen Z and their take over of social media. With the newest platform TikTok, marketing has taken a major turn. Some may think, how do dances and 15 second videos blow up businesses more than billboards and commercials? With millennials taking up 75% of the workforce and the oldest of Generation Z starting their careers, it’s time to understand these generations and what makes them tick.
These two generations have many similar qualities, the main one being both growing up with technology, but the groups have very different attitudes towards technology and money.
Two major things that affect the different attitudes are their childhood experience with technology and the economy. Millennials were raised in an economic boom while Gen Z were raised in a recession. Many people are categorizing the two in the same generation when it comes to marketing, but they do not realize that Gen Z will not respond to the majority of campaigns built for Millennials.
Gen Z expects more innovation from the companies they like. They expect you to have new and improved products and to stay updated with what’s in. Gen Z will happily pay for any product they see advertised to them but if the product does not stay in their face on their social media platforms (Instagram, Tik Tok, Snapchat) they will never think about the product or company again.
Millennials will stay loyal to the brand that identifies best with them. Millennials put a lot of trust into the companies they like. They are willing to work and spend time with the customer service representatives to find a solution whereas Gen Z will easily cancel the brand on all social media platforms when items are not as they were marketed.
Both Millennials and Gen Z value authenticity, but Gen Z knows when a product is being fluffed for a campaign. The best way I describe this is Generation Z has grown up with multiple social media platforms. Since middle school they have been building their own personal brand and aesthetic. These two things are very important to this generation and they can tell when companies are not being fully authentic. Instead of posting photos of a photoshoot of the products, invest in using influencers whose aesthetic match your audience.
Gen Z cares more about saving money and Millennials care about the brand experience. Gen Z shockingly cares more about saving money than Millennials did at their age. Maximizing every dollar is very important to Gen Z while Millennials will invest in the experience your brand delivers. While marketing to Gen Z, promotions and stressing high quality products is a great strategy. Example (any $20 purchase comes with a freebie or free shipping on all purchases).
Both Millennials and Gen Z focus on diversity, inclusivity and equality. Supporting these social rights is a major win with these two generations. Whether your company is in retail, the restaurant industry, a law firm or general business, showing greater representation in your marketing to social diversity will show your customers that you care.You are also there to make a difference, joining with them instead of just being there to be a business and take their money. This can also be achieved through influencers and simply recognizing special holidays such as raising awareness for mental health month, black history month and women's rights awareness.
As popularity of the new apps that reach these audiences continues to grow, it is also important to measure the success of the campaigns. While TikTok is popular at generating views by assigning content, you want to ensure that your product aligns with the audience. We’ve found campaigns that reach incredible numbers of people sometimes only looking for entertainment vs. be ready for a purchase. Therefore, you need to keep it up. We’re exposed to over 5,000 pieces of content a day. Tell us one thing you remember from yesterday and you’ll win a prize.
Keep the pressure up and you’ll find success.