While you’ve been busy getting your business ready for the Millennials, a new generation is waiting in the wings and ready to take over. Here’s what you need to know about Generation Z.
They’re called Generation Z, and they could cause your business some serious headaches if you don’t address their needs – both as customers and employees.
Born after 1994, members of Generation Z have been brought up in a world of pervasive technology. Their attitude to work is often in stark contrast to that of previous generations – for example, according to a study by Marketo, more than 75 per cent want to base their career around a hobby, compared to only 50 per cent of Generation Y.
Ubiquitous social networking has led many to value online peer reviews over brand reputation, while most carry out extensive online research before committing to any kind of purchase. The concept of brand loyalty is rare among Generation Z customers, which means your business has to work harder than ever to build it.
This new generation lives online and it’s vital that your business does the same. The ability to communicate via social media and other online portals is crucial.
It’s also essential to ensure that your brand is visible across multiple platforms. For example,if you advertise via sponsored search, make sure your ads are optimised for mobile devices.
Generation Z don’t watch TV like their predecessors. Instead, they are more likely to switch between on-demand viewing options on smart TVs and smartphones. When advertising your brand on tv, consider therefore the advertising power of YouTube and the innovative ways in which you reach your audience using video content.
Tech companies have voiced concerns about the difficulties they’ve had in finding young and talented individuals for digitally advanced roles, with many potential recruits not coming through traditional channels like university education. Having a strategy to attract and recruit this talent is essential.
Many members of Generation Z think differently, behave differently and engage with employers in a very different way to those of previous generations. They’re often challenging, opinionated, curious, determined and not always sure about exactly what kind of job they want. This means it’s more important than ever for businesses to help them identify what they need to thrive.
The automobile giant Ford is using findings from its trend report, buying power of Generation Z, to shape their new product range which will feature Generation Z technological advancements such as self-driving cars and the integration of computers and cloud-based services into their vehicles.
This kind of forward-thinking strategy is essential for all businesses. Ford cites Generation Z as the first ‘truly global generation’ who are eager to make an impact on the world. Is your company prepared for these new levels of innovation? And more importantly, are you ready to take risks to reach out to Generation Z?