You may be asking yourself, “Why are we talking about Gen Z, it felt like yesterday we were talking about Millenials.” With that said, Gen Z is an important generation to understand when deciding on a marketing strategy. A couple years ago, Millennials were the majority of the population in the workforce, however, their majority has been overtaken by Gen Z. Gen Z is going to disrupt the market because they are more technologically advanced and demand more of companies, hence the rise of social enterprises, B-corps, and social initiatives.
Gen Z is the skeptic. You may have survived the market of Baby Boomers, Gen X, and Millennials, but no one will challenge you like Generation Z. They were raised by Generation X, and they will demand more from you company. They certainly won’t trust you until you show them that they can, and quite frankly, they don’t care about you until you prove to them that they should.
So, what is loyalty, and how will Gen Z push you harder than ever before?
Loyalty and Trust
Loyalty and trust go hand in hand. If you have created trust between your consumers and your business, you can expect to see greater loyalty. Forbes declared that aroyund 83% of customers would be willing to recommend a brand if they trusted a brand. Additionally, it is said that 82% of consumers that trust a brand are willing to use the brand more frequently. Clearly, trust and loyalty work together to ensure longevity.
With that said, it is important to know how to build trust and in turn, loyalty.
- Encourage Reviews: Have an open door policy. If you want to encourage it on a greater scale, offer discounts for a review that is submitted.
- Authenticity: Avoid the gimmicks and clickbait, Gen Z wants to see you for you.
- Allow Negative Reviews: As said earlier, Gen Z is sceptical about every business. If you only have positive reviews, they will likely turn away.
- Make Customers Feel Like More Than A Profitable Tool: In business, every dollar matters, but the customer should never feel like you only care because they have purchasing power
Gen Z is different from any other generation. They were raised by Gen X, with technology, and have been impacted greatly by the environments that they grew up in.
Due to the fact that Gen Z was raised by Gen X, Gen Z is a generation of entrepreneurs and system changers. They do not stand for the status quo, and have little shame in pointing out what is wrong. They value financial security and have the ability to leverage technology to their benefit. Gen Z wants to be in charge of their own path.
We all know the population triangle. While there were a lot of Baby Boomers, there were even more Gen X, and in turn, even more Millennials. Gen Z is no exemption. They outnumber millennials and are going to be disruptive in the best ways. Gen Z was raised in the most disruptive decade in history, and wants to see significant change. They spearhead the environmental and social movements and have no intention of stopping. Change is happening because Gen Z is here.
The last thing that is important to Gen Z is a combination of face-to-face and online interactions. They are able to fill their social battery with a combination of both. Despite being raised with technology, Gen Z still sees value in face-to-face communication. In fact, it has been seen that they prefer Facetime to a phone call. This is why malls and online shopping are equally successful.
Gen Z is loud, demanding, and caring. They have the power to change the world, so it is important to see where you fit into their lives. Is it via a social cause, or equal opportunity. Maybe, you will adopt a stronger online marketing strategy, or you will integrate live chats on your website. Either way, you need to understand Gen Z to reach them.
Why They Really Don’t Care
Gen Z does not care about your company specifically. They need to care about the people that work their, the causes you support, and the change you are trying to make. This generation really doesn’t care about your loyalty programs, or how big and successful you are. They support change, so how are you changing the world?
In the last decade, social enterprises, small businesses, and B-Corps have been seeing great success with Gen Z. This is because these entities are trying to facilitate change through their business. Gen Z recognizes this, and has a greater inclination towards supporting them.
Gen Z likes to feel powerful. While they don’t need to be the leader, they do need to feel as though the power is in their hands. This is why they don’t care about your business. They care about your authenticity, your people, and your business passions.
At Octopus & Son, we value every target market. With that said, it is imperative that you understand them, and what they need. This way, your marketing strategy can be a success. By having a greater understanding of Gen Z, trust, and loyalty, you can better equip yourself for the future.