Digital transformation for NWG Leisure.

470%
Increase in booking revenue.

The buying power of Gen Z & how to target them

December 1, 2021 / Reading Time: 3 minutes /
Anna Ferguson

You may have heard people talking about Gen Z, but some people may wonder who does it refer to and who are these people who have so much buying power? 

gen z

When referring to Gen Z we are talking about the generation between 1997 and 2012, they came after me… a millennial (born between 1981-1996). I’d like to say I’m digitally savvy but considering this generation typically were given an iPhone at an average age of 10 and grew up on their parents phones and tablets I beg to differ. 

Gen Z grew up in a hyper connected world, they are digitally savvy, and have an advantage over us like no other, they are agile when it comes to spending money which is why they have so much buying power.

According to an independent study, Gen Z spending reached $140 billion prior to the pandemic and they make up approximately 32% of the global population therefore we as marketers really need to further research how we can target this generation that continues to spend.

Gen Z immerse themselves in the online world with 92% of them having a digital footprint, they have everything they need at their fingertips. They typically like to spend but do try to avoid debt and they do this by spending wisely and using various payment forms. They typically would use debit and credit but are also most likely to use Buy Now Pay Later options and the likes of Klarna, therefore we need to make sure we showcase these offers to attract Generation Z always remembering that we need to connect with these customers in 2.5 seconds. 

Here are my top tips for targeting Gen Z:

Authentic brand experience.

Gen Z want an authentic brand experience, so when we are putting together a marketing strategy we need to make sure that all our ads have lofi creative that is native to each individual platform – this experience should be synonymous and the user shouldn’t even be able to tell that your ad is an “ad”.

Interactive creative.

Eye catching interactive creative – as mentioned above we have 2.5 seconds to catch the user and with Gen Z known to favour experiences and memories more than any other generation let’s create an experience from the off and make it impactful in the first couple of seconds, we need to hook them in so they can feel part of it.

Sustainability.

They care, Gen Z are emerging as a sustainable generation and they are favouring sustainable/eco friendly brands so when serving ads if one of your USPs is eco friendly let them know about it.

Get social.

We know that Gen Z spend on average 3 hours per day on social platforms so make sure you are putting money behind social ads and as mentioned above, make sure you are creating content and creative that is right for each individual platform.

Keep up with new technology & platforms.

Whilst we are talking about social platforms let’s move onto technology – just because some of us (millennials and Gen X) don’t understand new technology, doesn’t mean your audience don’t, make sure you are always looking for the new social platform or technology to move into – get ahead of the market.

Find the gap.

Within all our industries there will be a gap for paid marketing where we can target Gen Z, whether that be Pinterest, TikTok, maybe even VR. 

Give them payment options.

We know Gen Z likes to spend, so make it easy for them, offer them various payment options including BNPL. 

We need to make sure we are constantly adapting our marketing strategy so we continue to allow Gen Z to experience our brand and in doing so we will continue to connect with one of the biggest markets! 

Are you reaching your Gen Z audience?

Our team of specialist would be happy to help!

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