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Reports
Millennial and Gen Z Marketing Matters More than Ever Now
COVID-19 has affected mental, physical and corporate life to the core. This pandemic has also made Gen-Z a bit more motivated to support their communities.According to a research conducted by Forbes, 55% of millennials are now more inclined to do so rather than they were before pandemic.
Gen Z and millennials are gradually leading the shift to e-commerce.Since this pandemic began, 33% of GEN Z consumers have increased their online spending.Marketing and overall spending is inclining towards the digital world. Small businesses can implement Instagram Live or Facebook Live to heighten customer’s attention.
A recent trend that has taken the market by storm is YouTube (YT) Shorts and Instagram (IG) Reels, which is the after-effect of TikTok videos. Businesses are constantly vying for Gen Z attention, whose attention span is quite short. Now, with the help of YouTube shorts and Instagram Reels, businesses can effectively create a 60 seconds video to target millennials and Gen Z users.
Another way to hook YT and IG users’ eyeballs is to incorporate informative/ entertaining elements as short as possible. Effective, creative, or engaging captions go a long way in keeping the audience engaged with the brand’s content.
Businesses must also employ trending hashtags to reach a larger audience range. Doing so also increases the views of the post. The Reel and Shorts feature also helps businesses stay in tune with emerging trends, given the easy-to-create format of these features. Following the upcoming trends helps businesses expand their presence.
These formats can also capture repurposed content. Multiple YT Shorts can be made of a lengthy YT video to reprocess the used content. Reels and Shorts can also be used to immediately update the users regarding a new development.
Small businesses can partner with influencers and invite guests relevant to their industries.Though what separates GEN Z from others is their attitude to fight back and start from crash. Investing in proper stocks and taking conservative measures can act as a good strategy.
Memes are also prominently used to market services/ products to millennials or the Gen Z population. Memes can be a joke, a catchphrase, or even a video/GIFs usually derived from popular culture like movies or TV series. They are highly relatable and shared with a large base of audience on social media platforms. Thereby, giving an edge to brands to enhance their brand narratives and storytelling.
The marketing potential of memes cannot be overlooked by businesses. Memes are used in almost all marketing and branding. As per the statistics of YPulse, about 3/4th of millennials presently share memes, and around 40% of millennials follow meme accounts on social media platforms.
The creation of a good meme helps users engage with brands’ content. One crucial aspect of a good meme is its huge recall value. Memes that are shared by our friends or make us laugh hysterically are the ones that make for effective memes. Creating an efficient meme marketing strategy is no rocket science. Remember, when it comes to memes, always choose simplicity in context.
Older Gen Z consumers (aged 21-25) are financially squeezed and will require greater support from companies to maintain their standard of living.Better marketing can help them create an almost realistic road to re-establish the financial foundations and living strategies.
YouTube, Twitter, Facebook and Instagram will gather more attention. It already did but consumers have now been more educated about online shopping and working.Social media continues to evolve and invents tools for retailers so as to track traffic coming from various sectors.
By 2020, Generation Z will account for 40% of all consumers. Few brands, businesses influencers and industry owned by them actually want to hear, where they go for information, what platforms they use frequently and what’s grabbing most of the attention.
Only talking about being a leader makes no sense, SHOW IT
Your content and website need to be engaging. Gen Z are pros at the game of the Internet.It does not really matter what your business achieved in 20 years; if you are unprofessional and out of trend you won’t grab attention at all. There is a huge difference in talking about being an industry leader and proving to be one.
GEN Z focusses on changing the world rather than just thinking of it
60% of GEN Zers want to create an impact through the kind of jobs they are doing. Finding out about you selling or hiring a product genuinely or trapping them in a campaign is a very easy game for them.
Conversations and a proper community form the base of GEN Z
Social media attracts this generation because their mobile devices are a primary way of communication—not just with friends, but with online communities as well.Social platforms have created niche markets and various groups of like-minded consumers.
Extremely open-minded and their struggle to make everyone similar
Consumers are curiously paying attention to big brands and companies to facilitate major changes.It focusses on the same point as of creating a positive impact. Information and messaging need to be intelligent, thoughtful and inclusive. It’s not about showing that you’re right rather it’s about including everyone together.
The pandemic also appears to have a positive impact on the stress levels for younger generation. 52% of Gen Zers said that before COVID-19 spread worldwide, they were even more stressed.According to The Wall Street Journal ‘Nearly three-fourths of Gen Zers and millennials survey say the pandemic has made them more sympathetic to the needs of others.’
Gen Zers have developed sophisticated content that develops from being snowed under the mountain of information all the time.Keeping emails short and learning the basics of email-marketing creates a greater impact. Working with marketing professionals and identifying brands is what matters the most.
As the most diverse generation, it’s obvious that Gen Z is the most politically active and environmentally conscious population. This generation is inclined towards betterment and is inspired by young activists. More brands are now investing in marketing dollars to work with any online celebrity to a micro-influencer. Though when it comes to who an influencer is in the Gen Z community, only 21% are self-identified.
GEN Z are passionate about sticking to the values they believe
They are passionate about making an improvement or change and fighting for the values they believe in. Share the mission and values of your brand, or take it further. They also focus to partner with a charity or cause about which your brand is passionate about.
Upgrade the promotional strategies and remain up-to-date
81% of Gen Z have a serious plan to race against their parents to make more money. They are often using all the digital apps to save as much as they can (e.g., Rakuten, RetailMeNot).Most of Gen Z does thorough research on a product before they convert. Offering free shipping or discounts can quickly convert Gen Z consumers.
It’s high time and now one should to include the demographic in marketing strategy to expand reach, boost conversion, and increase brand awareness and information.Whether it’s about implementing new features on e-commerce website or digging out new digital marketing campaigns, we must not forget to prioritize consumer relations.
Develop the Four P’s of Marketing in Your New world
The four P’s of marketing:
We all know that the crisis caused by COVID-19 pandemic has completely changed the way people shop and consume goods. It won’t be surprising to think that the behaviour will continue to change in a post-pandemic world too.Consumers are probably going to consider their options in a better way than before.
They will now make a more conscious choice hoping that products will provide them lasting value.All of the points discussed above boils down to the fact that adapting four P’s of marketing in your customers’ new reality hits priority level.
It’s not a great challenge for GEN Z to get stabilized again. They will quickly re-group with their peers in more personal settings because of the longing for connection. Adding to it, as many works in service industries have been shut down.
Therefore, Gen-Z will quickly return to action to make up for all their lost income. There is no doubt that they are already scanning for ways to achieve supplemental income.