Generation Z is now coming of age and they've got a lot of buying power. But marketing to them isn't easy, because marketing to this generation is unlike the ones before them. Since they are digital natives, their approach to buying is very different.
Gen Z – which includes today’s teenagers and young 20-somethings – currently makes up 25.9 percent of the U.S. population and is expected to account for about 40 percent of all consumer markets by 2020. What’s more, it’s reported that Generation Z has $44 billion in buying power. But when you factor in their influence on parent and home purchases, their real spending power is closer to $200 billion.
Generation Z is known as the social generation. Everything that happens to them is a social experience that must, in most cases, be documented and shared. To market to this audience, marketers need to be on top of the major digital trends and keep their social media strategy relevant and up to date, and not only position themselves as an active member of their communities, but also find ways to maintain their presence.
Consumers today, particularly younger generations, are more aware and politically astute than ever before. Make sure you have corporate values and that you put your money where you say your mission is. Marketing speak just won't cut it anymore.
Win over Gen Z consumers by working with a diverse variety of influencers that represent their core values: sustainability, equal representation, rebellion and humor. Understanding how Generation Z uses each popular social media platform is crucial in creating content and ads that resonate. Generation Z uses different social networking platforms for different activities. According to a study recently conducted by Response Media, Generation Z:
Showcase their aspirational selves on Instagram
Share real-life moments on Snapchat
Get the news on Twitter
Glean information from Facebook
Plus, Market Wired revealed that Instagram is the most popular app for brand discovery, with 45 percent of teens using it to find new products.
And when it comes to shopping recommendations, YouTube is Generation Z’s platform of choice at 24 percent, followed by Instagram at 17 percent and Facebook at 16 percent.
Keep these trends in mind when creating content or ads targeting Generation Z on these social platforms.
Why is it important to understand Generation Z?
Youth culture is impacting American consumer culture across generations much more broadly than ever before. The next generation provides data points into what's likely next for industries. Generation Z is one of the most powerful consumer forces in the market today. Their buying power is $44 billion and expands to $600 billion when considering the influence they have on their parents' spending. Generation Z will represent 40 percent of American consumers by 2020.
What are the values of Generation Z?
If you’re selling to Generation Z, there’s no time like the present to hone in on your influencer marketing game. But remember what we said about authenticity above – Gen Z’ers know the difference between someone who’s been paid to make too much noise about a product, and someone who’s tried something out and have shared their genuine experiences. AirRentalz marketing and promotional services can assist Host's with marketing your Airbnb/STR.