How does advertising differ depending on the age of the target audience? Some marketers pay little attention to it while others adjust their products or services to satisfy consumers of a certain age. When being aware of generations' preferences and interests, advertisers can focus on the channels where buyers spend most of the time.
Nowadays, businesses turn their eyes to Z-ers more and more avidly. Centennials comprise about 2.6 billion people who are barely 24, but they possess immense buying potential and account for 40% of global consumers.
Here are some points advertisers need to know to reach Gen Z buyers.
Why Gen Z Matters for Businesses
Generation Z is crucial for businesses that want to succeed in the next decades. These buyers are on the track of becoming the largest group of consumers, leaving behind Millennials and Gen X. Unlike their older counterparts, Z-ers are prone to spend money. $140 billion comprises their buying power.
Moreover, these young people can perfectly persuade others and influence their family purchase decisions. 70% of food choices and 80-90% of other items are bought according to Z-ers' suggestions. When meeting their needs and expectations, companies can also anticipate to get word of mouth referrals and, thus, attract new audiences.
Gen Z is better aware of the new trends than older generations so that it makes them more open to trying out new brands and experimenting with products. They typically set purchase patterns to other earning members of their family or even the entire community.
Centennials considerably differ from previous generations when it comes to purchasing. They are a distinct group of people with their own values and unique experience. Therefore, brands need to find new approaches to this audience instead of treating them like an extension of Millennials. The opportunities advertisers get on CTV comes in handy when building proper communication and targeting accordingly.
Gen Z's Attitude to Video Content and Ads
Furthermore, Z-ers are also known as a video-consuming generation. They usually use streaming services or social media to watch the content. What is different about their viewing experience?
OTT and CTV Media Consumption
When realizing the peculiar characteristics of Gen Z viewers, it's easier to engage them in media content consumption. Due to the distinctions among generations, brands should leverage various approaches to reach these audiences in the channels they view the most. Frankly, linear TV doesn't work for young generations. 70% of Gen Z and 72% of Millennials watch TV and consume media content accessing it via online sources such as game consoles or smart TVs as well as multimedia devices like Apple, Roku, and the like.
For that reason, CTV and OTT emerge as a proper environment for advertisers where they can target the right audiences. As the young generations use several digital platforms at the same time, Millennials and Centennials juggle between 3 and 5 screens, respectively. They may check their social media accounts, text to their friends, play games, shop or browse online. Therefore, traditional TV viewing emerges beyond their attention, and plenty of commercials are simply overlooked. Even when linear TV is turned on, young viewers' eyes are focused on their gadgets. Therefore, brands move to CTV and try to take the best of it instead of frittering away ad budgets.
Receptivity Towards Ads
In this environment, advertisers can reach even attention-scattered customers who are Gen Z. The young audience spends tons of time-consuming video content on CTV and treats light ad loads as natural. They are shorter and less annoying compared to commercials on linear TV.
Surprisingly, 54% of Z-ers don't mind but enjoy watching ads, especially targeted which allows them to consume media content based on their interests. Gen Z is also more likely to watch non-skippable commercials unlike Gen Y or Gen X.
How to Market to Z-ers
In the upshot, brands should come up with special marketing approaches to reach Gen Z as well as focus on the channels where they spend most of the time.
The analysis of market trends has shown the promising potential of CTV. This environment provides marketing technologies that enable Fiksu to cover the staggering number of Gen Z viewers. With this in mind, the company has developed and recently launched the new platform Bidmind by Fiksu that helps brands reach and engage their customers.
Here are the following ideas on how to market to the youngest buyers.
The message should be short and eye-catching. Z-ers' attention span is about 8 seconds. It's vital to make this time work for the brand and reach the set aim.
Short and Efficient
Gen Z is prone to rely on influencer's content. When advertising campaigns comprise expert opinions or suggestions from movement leaders, role models, or educators, it's a win-win tactic to engage larger audiences.
When targeting this group of buyers, advertisers should expose them to brand value. Only along with it, they purchase services and goods. Not otherwise. Centennials don't like to be marketed. They prefer to choose for themselves what matters.
Gen Z is aware of recent innovations, so they expect brands to stay tuned with digital developments and use them in commercial campaigns. Marketers need to select the proper media strategy to remain captivating for this audience.
In the long run, Gen Z has already begun to replace Millennials as the largest cohort of buyers. They considerably differ from older generations and, thus, require new marketing approaches. Their admiration of the digital world and immense buying potential are the pillars on which brands can map out their marketing strategies.