4 Ways of Marketing to Gen Z and Making Them Loyal Customers
by Yakshit Chaudhary Marketing ExecutiveGeneration Z or
Gen Z, usually referred to those born between the mid 90’s and early 2010’s.
And, they will account for 40% of all consumers for any
business by the year 2020. This number
does give one reason to pause and consider their potential as a target market
well worth exploring.
The study
conducted by MNI Targeted Media Inc. focused on gaining insight into Gen Z
behaviour. MNI’s report identified certain chief traits of Gen Z – excessive
reliance on social media, a high esteem for social impact, the expectation of
conversation, FOMO or fear of missing out, and a high degree of tolerance.
Let’s talk about
four ways of how to market to Gen Z and turn them into loyal customers.
#1 Tailor your content according to a platform
Being born in the
time when social media was gaining prominence, Gen Z is highly connected and
extremely comfortable with social media platforms and related technology. Ask a
question, and they’re prompt with Googling or asking Alexa/Siri for the answer.
They’re quite at home with switching between Twitter, Facebook, Instagram, or
Snapchat. However, their use of each social media platform is fairly exact.
Facebook is used to receive general updates while Twitter for staying on top of
the latest news. And if Gen Z wants to share what’s happening in their life,
they turn to Snapchat. Instagram is for those who wish to exhibit their
aspirational selves or what they’re up to through Instagram Stories.
Key takeaway: To tap
into Gen Z’s psyche, you need to tailor your message according to each
platform. This generation wants that you understand their needs and can connect
with them. Your message needs to reflect its beliefs and aspirations.
Gen Z is
socio-politically conscious, standing up for issues close to their heart.
Whether it’s about supporting the freedom to speech or raising voice against gender
discrimination, this generation cares about making the world a better place. At
the same time, they make proactive buying choices and support brands that take
a firm stance on social issues (given the brand's position aligns with their
own beliefs, of course). It ultimately boils down to whether the brand cares for
its customers and the society or not.
Key takeaway: To
connect with Gen Z, brands will have to make tough choices and take a stand on
issues which may be tricky or even controversial. OldCabs made its stance clear
on discrimination when a customer cancelled a cab citing the driver’s religion
as a basis. They made it expressly clear that they do not discriminate with
their customers or driving partners based on their caste, religion, gender or
creed.
Celebrity and
expert endorsements hold less weight with Gen Z. This generation is more likely
to relate to a “real” peer online. They
follow influencers religiously, some of whom can give celebrities a run for
their money in terms of followers and popularity.
Key takeaway: Brands
have to move with time and come to grips with the fact that influencers do hold
huge sway with their target audience i.e. Gen Z. Target, in fact, partnered
with three influencers - a 12-year-old chef who owns his own cookie business,
an 8-year old surfing prodigy, and a 10-year-old dancing sensation; when it
decided to launch a new clothing line, “Art Class” for Gen
Z. Those three young influencers we mentioned above, have a combined 10 million
followers on social media. Amazing, huh?
As per the MNI
study cited above, for 72% of Gen Z consumers, the cost is the single most
important factor while making a purchase. They compare prices at different
e-com sites before taking the plunge. If the price isn’t right, Gen Z isn’t
taking the bite!
Key takeaway: When
you’re making your move, weave a narrative about relative value into your brand
messaging. But before all things, keep the bottom line in mind: Get the price
right.
Gen Z is upfront
with you. If you get your message and the medium right, you’ll be rewarded with
its loyalty. And if you don’t, you’ll come to know about it. What matters is
that you stay real and try to connect with it based on shared values. If you
get this right, you’ll be in for a worthwhile relationship with Generation Z.
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Created on Jul 26th 2018 02:51. Viewed 690 times.