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If you’re running a business, then you are probably facing the negative consequences of the COVID 19 pandemic. Globally, spending has slowed down and consumers and businesses alike are getting more cautious.
How does one stay afloat – and profitable – at a time like this? Turns out, catering to the younger consumers may be a smart tool to employ. Various Gen Z marketing strategies – like video marketing, influencer marketing, or social media could help you win new customers.
Right now, consumers have changed their everyday behavior (not just buying behavior) in many ways, from where they work to the way they dress to what they’re doing in their downtime. And the demographic that stands out is Gen Z (as well as Millennials) since they are the most adventurous and least set in their ways (compared to Gen X and Baby Boomers). The fact is, they are young, they are impressionable, they have purchasing power and they hold the key to longer-term buying behaviors and loyalties.
Disruptions like the ones we are currently experiencing (thanks to the pandemic) can spark dramatic – and even permanent- changes in consumer behaviors, giving brands a unique opportunity to cash in. Investing in the right marketing tactics and tools now, to capture a slice of the Gen-Z pie, will lead to immediate and lasting benefits.
Gen Z is of particular interest – they will have increased spending power as they come into adulthood, along with an ability to influence older generations. They will increase their spending in the coming decade, while the opposite will happen for Gen X and Baby Boomers.
Brands need to develop a deeper understanding of Gen Z and millennial consumers, anticipate their shifts, and reframe their marketing campaigns to tap into their buying power as their behaviors are in a state of flux. The pandemic has brought about a dramatic shift in the way people are fulfilling their needs – whether it’s shopping or entertainment or eating – with a combination of traditional approaches (cooking more at home) and technology-driven tools (learning and shopping online).
Gen Z-ers are digital natives: they were born into a world driven by digital technology, and have never known life without mobile apps, smartphones, and social media. All of these technologies have transformed the way we communicate and connect – and your marketing strategy needs to be in sync with that. Here are a few things to keep in mind when marketing to Gen Z-ers.
Gen Z is an important demographic you need to focus your energies on right now. As they enter adulthood, they are making more purchase decisions as older generations – mainly Baby Boomers and Gen X – reduce their spends. Here are 5 strategies to keep in mind when dealing with Gen Z.
If you are selling to Gen Z, then you should invest in, (and cash in on!) the video marketing benefits that social media offers. There are several ways video marketing benefits a brand.
It boosts conversions since videos give your audience a deeper look into you brand, product and service. It also makes an interesting addition to your email marketing campaigns as it boosts open rates. It also encourages social shares – data shows that 92% of mobile customers share videos with others.
It also helps build trust and credibility amongst your audience, because a majority of consumers say that product videos are helpful in the decision process.
Video marketing strategies are designed by marketing teams to create, curate, and utilize videos as a way to market their products and services to their target audience.
The aim is to keep audience members engaged with the brand with content that is informative, simple and easy to digest. There are many different types of videos you can create to connect with your audience. How to videos are always a good place to start, as they are interactive and informative.
Demo vidoes are also a good way to engage customers – this gives them an idea about how to use your product or service. Brand videos, on the other hand, showcase your company’s vision, mission and/or products and services, and allows customers to get a deeper understanding of what you’re all about.
In an influencer marketing strategy, a brand forms a partnership with a social media influencer or celebrity influencer – and the influencer agrees to post the brand’s content or message on their own platform to share with their followers.
Influencers usually have a large and engaged audience, so brands benefit when an influencer shares or mentions their content or messaging. Brands often find influencers on social media, by running a quick search by topic to understand who is making their voice heard.
Brands generally look for influencers who are an authority in their niche, and who have demonstrated some kind of expertise in their field. It is important that there be some common ground between the influencer and the brand in question.
You must have heard of influencer marketing platforms that connect influencers to brands. But what are influencer marketing platforms? They are technology services that connect brands with content creators.
They are a two way street, helping brands look for influencers and influencers look for brands. The main benefit of using an influencer marketing platform is that is helps save you, the brand, time and effort.
You don’t need to spend hours scrolling through social media and tracking engagement – the platforms will provide a list of influencers along with their statistics. You can find hundreds of influencer marketing platforms across the world – a quick Google search will help you find one in your country.
Amol has helped catalyse business growth with his strategic & data-driven methodologies. With a decade of experience in the field of marketing, he has donned multiple hats, from channel optimization, data analytics and creative brand positioning to growth engineering and sales.
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