Although marketing principles do not change, most brands will agree that targeting millennials and the next generation (called “Gen Z” for now, or those born from about 1998), presents new challenges.
We know that they spend most of their time on their mobile phones or on social media, or watching Youtube, but how exactly can they be reached?
We asked Anna Esperanza, our resource person on Multi-Generation Selling, for some insights on how to tailor our marketing efforts to younger generations.
1. Focus on consumer behavior
Due diligence on the psychology and sociology of each segment is still relevant. But learn to be observant on how the different generations obtain and share information. While Gen X and Baby Boomers might still read a newspaper or pamphlet, younger consumers will look at their peers and mentors on social media, particularly Instagram. Generational influencers are also key to understanding younger consumers.
2. Know the general characteristics, but be person-centered
Yes, demographics, psycho-graphics, and buying behavioral patterns plus our research on these factors are still important considerations. But in the case of a younger customer, be prepared to listen more and follow their thought patterns and opinions on social media. Always communicate through their trusted channels — again, usually through close friends or influencers in their social group. Aim for a person-centered, one-on-one approach.
3. Design customer-centric experiences
We’ve heard reports of people looking at TVs and appliances at physical retail stores and then going home to order the exact same item online. The store has become a demo-only channel, missing out on the sale. The solution is to be customer-centric, to ensure that our younger audience can try the brand, speak to their peers about it, and ensure their concerns are addressed. Even better would be to design the product or service specifically for them, with their inputs.
4. Be updated on current trends
Millennials and the young adult Gen Zs are about lifestyle integration and living in the now. To keep them loyal, keep your products and services up to trend. Note their current concerns, which range from the environment, to desiring cultural or social impact or change.
Understand the generation voice of your consumers, communicate what matters to influencers, and ensure that your product or your service fits. This would ensure that your efforts will create an impact, which will go beyond the communication channel (Instagram or other social media) or sales channel (physical or online) chosen.
Esperanza will facilitate a course on “Effective Multi-Generational Selling: Understanding unique needs of the different generations to engage and influence sales” on Aug. 16, 2018.
The Inquirer Academy is at 4168 Don Chino Roces Ave. corner Ponte St., Makati City. For more information about the workshops or if you would like to add your input on the article, you may email ask@inquireracademy.com, call (632) 834-1557 or 771-2715 and look for Jerald Miguel or Judy Bondoc.