Are you aware of the powerful purchasing power that Gen Z's hold?

Firstly, who are they?
Generation Z also referred to as Post Millennials or the iGeneration is the demographic cohort following millennials born from 1995 to 2009. They are the children of Generation X and even of some millennials with the eldest Gen Z’s aged 22-23.

Fun Fact: They were born social and they are addicted to their digital devices. These guys are the most technologically fluent generation thus far!

What does this mean for businesses?
Heading into 2018 there will be a shift as businesses realise the powerful purchasing power of these Gen Z’s. This is the generation that doesn’t just respect business and brand loyalty, they simply expect it and if they don’t feel valued and appreciated they will move on. It’s their initial freedom with money which makes them such a dominant consumer group. Businesses targeting this core group need to think about the three most important things to a Gen Z consumer:

1. The lowest prices – they want value and they want low prices, this is what Gen Z’s are attracted to.
2. Reading reviews – they want to check out a few real reviews (don’t make them search for them you’ll probably loose a potential purchase, make them obvious, incorporate them into your social content plan).
3. Seeing the product – they want to see photos of your actual product (don’t just put one or two, show them every angle) showcase this in your advertisements and include them on your website. In considering these three core factors businesses need to rethink their key messages and channels of communication.

Marketing – does your approach need to be re-evaluated? Here are our top tips for reaching and engaging Gen Z’s more effectively.

With a serious addiction to their digital devices, digital marketing is the uttermost crucial factor when it comes to effective marketing. Forget more traditional methods including printed advertisements in magazines, newspapers, ads on radios or direct marketing campaigns such as letterbox drops, you’ll only be wasting valuable time and money.

Think, breathe and live social media.

• You have 8 seconds or less to grab their attention – if you want a Gen Z to take action then you need to convey your message quite quickly helping them to understand what the content is about, why they should care and how it helps/entertains them.
• Focusing on building real reviews rather then loyalty – Gen Z’s don’t always show loyalty because they are more focused on lower prices and value, whilst always preferring to check out reviews before making a purchase.
• Make it easy to connect everywhere and anywhere – Gen Z’s attention is even more split than millennials using almost every digital device you can imagine. 
• Don’t create ads, create value - They don’t want sponsored content, they’re after resources, profiles, tutorials, discounts, channels etc.
• Look the part and show, don’t tell – You need to be engaging and look professional across all platforms that your business exists. You also need a strong and engaging online presence. Ps. Having 29K followers on Instagram with less then 200 likes on a photo is FAKE, Gen Z don’t like this.

In no time at all Gen Z’s will take up as much as 40% of all consumers. Your business can start now by giving these Gen Z’s a personalised, socially responsible and satisfying consumer experiences.

To refine or kick-start your marketing efforts today, contact the Marketing Eye team on 1300 300 080 to talk with one of our dedicated consultants. We have in house talent from Gen X, Millennials and Gen Z’s to help build you a winning strategy!