Factors Determining Marketing Strategies for Gen Z
Every marketing and communications professional knows that they first need to understand their target audience to create a strategy or campaign. Well-informed marketers know how crucial it is to have a broad understanding of the audience they want to reach by considering factors such as their demographics, core values, and their online habits.
While most marketing strategies worked for earlier generations, marketers have to find new strategies to serve Gen Z. we will look at why such an undertaking would benefit a business.
They Have More Buying Power
Statistical data shows that Gen Z make up to 40% of the consumer population. Therefore, besides making a more considerable portion of the market, they are likely to influence it. This finding has been arrived at by the high levels of disposable income among Millennial. Teenagers averagely spend approximately $2500 each year, mostly on food, gaming products, and clothing. Therefore, businesses can reach a more significant portion of their target audience by focusing on the essential products and services that drive the Gen Z economy.
Gen Z Are Upcoming Social Influencers
Web marketing is taking a new wave with the growth of social influencing. YouTube and Instagram have become popular internet marketing sites, and they are effective for promoting products and services across all industries. Moreover, most Gen Z consumers relate to and rely on online influencers to guide their preferences. For this matter, marketers need to stay close to influencers who believe in their values and present them to the target audience. This makes communication easier as compared to other methods.
Experience Over Products
Most Gen Z are familiar with the web marketing tactics used to capture the consumers’ attention. At some point, these became too common, and now they ignore products. Instead of telling them why your product is the best, they are more concerned about its benefits. Gone are the days when people purchase a product or service because they were convinced too. Instead, web marketing should focus on selling experiences that users would have when they used the product.
They Prefer Interactive Content
Internet marketing is more fruitful when dealing with the Gen Z through interactive and creative content. Businesses, therefore, need to provide web marketing platforms that allow for user interaction. For example, a business can opt to use internet features that would require a user to swipe, click or tap when going through posts. Besides creativity, you can use social media platforms to hold conversations with your audience to deeper understand their needs.
Heightened Fear of Missing Out
Web marketing can attract Gen Z by tapping into their fear of Missing out (FOMO). Internet marketing channels such as Facebook and Instagram stories give brands a platform to push for short-lived engagements. For example, brands can give snippets of their upcoming products that could sell for a limited time. This way, you will get your target audience’s attention, and they will be eagerly following through their notifications, waiting for the big announcement or product launch.