If your business is working hard to attract Millennials, then prepare yourself for another demographic to consider.
Meet Generation Z. Generation Z refers to anyone born between 1995 and 2010.
Millennials may be running the workforce now, but soon they’ll be doing their best to market to a new generation. If you really want to plan for the future, you should start looking at how you’re going to make customers, or even potential employees, out of kids still in high school.
Here are some important things to keep in mind when targeting Gen Z.
They Want to Be the Boss
According to a survey conducted by the research firm Universum 55 percent of Gen Z-ers have considered starting their own company. They are following in the footsteps of Millennials who have been successful with startups such as Uber, Airbnb and Facebook. They’ve seen the generation before them build empires and they want desperately to do the same. So you should ask yourself “How can my business be of service to these budding entrepreneurs?”
Technology is Second Nature
Forget second nature, for these kids technology is quickly becoming “human nature.”
A study conducted by the Center for Generational Kinetics found that the Gen Z group is four times more likely than millennials or baby boomers to think it’s appropriate to get your first cell phone at age 13. What’s more, a study conducted by the J. Walter Thompson Intelligence company in 2012 found kids between the ages of 13 – 17 valued their internet connection more than going to the movies or having cable TV. This reveals just how much this generation relies on being virtually connected. When they communicate it is typically with text message or messaging apps that delete the conversation. Think Snapchat. They love Snapchat and they know how to use it better than anyone else. If your business is looking to recruit this demographic early Snapchat is a great place to start.
How They Spend Their Money
Or, how they spend their parent’s money. Whether they are working an after school job or given an allowance, Gen Z is spending a lot of money. And they are doing most of it online. These young adults aren’t afraid of making purchases with their cell phones or even doing shopping on social networking sites. If your business hasn’t already gone mobile —you should start now.
They Have a Heart
If millennials are “Generation Me,” then consider this age group “Generation We.” Research has shown them to be an altruistic bunch, believing they have what it takes to change the world for the better. What’s more, studies show they are more likely to support businesses that give back to the community. According to the JWT study, they are interested in global social changes such as poverty reduction, clean water and racial/gender inequity. It seems they want to align themselves with companies that have a moral standpoint.
So as you can see, if your business has its own ethical standards, like BBB Accredited Businesses are required to, you are more likely to appeal to Generation Z.
Learn more about this fascinating group by reading this study conducted by Robert Half.