As the younger generations are growing up and joining the work force, it’s time to start considering them as the most important demographic to target. Both Millennials and Generation Z make up about 25 percent of the population each, and they are at the forefront of the technology boom in society.
As the kids of America grow up, enter the work force and become consumers, it is important to distinguish the difference between Millennials and Generation Z—especially when it comes to your marketing strategy.
Millennials:
There is a lot of fluctuation about when the millennial age group begins and cuts off. According to the Pew Research Center, a group that measures public attitude towards demographics, a millennial is a person born between the years of 1981 and 1996. Millennials are also referred to as “Generation Y,” “9/11 Generation,” and “Echo Boomers.”
Marketing changed like never before with millennials, due to their unlimited access to information and communication. Between phones, computers, TVs and tablets the younger generations are overloaded with content. Studies have found that millennials tend to be more focused with information versus Gen Z. Millennials are also the demographic that does the most shopping, especially online. When it comes to brand loyalty, millennials are more likely to stay true to a few select brands and join loyalty point programs.
Generation Z:
Anyone born in 1997 and after is considered “Generation Z,” or “Boomlets.” Gen Z will be known for being the most diverse generation and becoming more mature from a younger age. They will stop playing with toys younger and will be savvier shoppers. Even though they are less focused than millennials, Gen Z are better muti-taskers and can complete projects faster and with multiple distractions.
With everything on demand these days, Gen Z as consumers have a higher expectation of products. They want everything to be “share worthy” and ready at the touch of their smartphone. Gen Z is the most available, because they are on more digital platforms than any other generation. This demographic is the most affected by influencer marketing and base their buying decisions off social advertisements and reviews on sites like YouTube and Google. Instead of being brand loyal, Gen Z focuses on their own personal brand image and will buy items to enhance that.
When looking to market to these separate generations, it is important to focus on the subtle differences. Treating millennials and Gen Z the same could possibly alienate and deter one of these groups. Doing research and coming up with distinct marketing strategies will ultimately allow your business to grow and thrive with the next generation to come.
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