Our insight platform provides targeted opinions and voices from the group that will soon be one of the most potent consumer segments in the world. So get ahead of youth trends and up your marketing game. Join Selfhood today!
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An insight platform can provide targeted information about your
consumers. They can help you make predictions about specific consumers
behaviour and characteristics. It's a tool businesses can use to clearly
segment their audience and improve customer engagement through more
targeted interaction, also known as engagement marketing.
In short, engagement marketing is about cultivating a strategic,
meaningful and long term relationship with customers. We first need to
know the difference between different consumers to do this.
On the one hand, Gen Z and Millenials share some essential
characteristics. They are both considered to be digital natives. This
means they were born in an era strongly influenced by modern
technology. Research shows both display shorter attention spans, more
impulsive buying behaviour. It uses more diverse modes of
communication than other generations, i.e. laptops, phones and tablets.
On the other hand, we see a growing divide in ideology and buying
behaviour.
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Targeting the Differences Between Gen Z and Millenials
For example, let’s consider the differences between Gen Z and Millenials
buying behaviour. While many organisations may lump these generations
together, research has shown significant differences in how these groups
behave. For instance, consider the following insights:
Gen Z does more research before purchasing: The surplus of
information in our modern times has ushered in the so-called era of ‘post
truth’. There are always alternative facts available to contradict existing
data, and this has led Gen Zs, in particular, to become more sceptical
about info online. A Forester survey has documented this, which saw over
half (51%) of Gen Z researching companies to ensure they align with their
views on corporate social responsibility before making a purchase.
Millennials prefer to read reviews: Where Gen Z emphasises their own
research, Millenials tend to rely more heavily on the opinions of others.
Forbes magazine claims that one-third of millennials will wait until
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someone else has tried a brand before purchasing from them. With the
independent finding, a further 8 out 10 Millenials will never buy from a
brand that has no reviews.
Historical Events Defining Some of These Differences
Millennials (Born 1980 to 1995):
The 9/11 terrorist attacks
The Global War on Terror
The Great Recession of 08
Gen Z (Born 1995 to 2010):
Covid 19
Election of Brack Obama
The rise in gun violence
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These momentous periods can help understand how millennial and Gen Z
values have been shaped. For instance, research by consultancy group
McKinsey has shown:
Millennials
As a result of the events over their lifetimes, millennials have a tendency
to be more:
Idealistic
Individualistic
Modernist
Gen Z
Whereas Gen Zs typically are more:
o Realistic
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o Socially communicative
o Resistance to identification, such as with gender and sexuality labels.
Benefits of a Targeted Approach
All these insights can tell us a lot about pinpointing our marketing and
sales efforts towards these demographics. They can help you to do the
following:
Better understand what different customers want
Tell us what customers expect from a brand
Help to create more detailed and accurate customer profiles
Understand the reason why customers choose one brand over another
Help forecast consumer trends
And give us critical insights about customer behaviour which can help
us optimise our campaigns.
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What Can Selfhood Do for You?
With Selfhood, we can provide the most relevant and update-to-date
insights from the global market. Selfhood conducts qualitative research
utilising stories, trends and experiments directly from youth consumers.
We have a diverse collective of 5,000 Gen Z social natives across 60+
countries to help brands generate new product ideas and campaigns. Our
insight platform provides targeted opinions and voices from the group
that will soon be one of the most potent consumer segments in the world.
So get ahead of youth trends and up your marketing game...
Join Selfhood today!
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Email Id:- hello@thisisselfhood.com
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