The Buying Power of Millennials and Gen Zers
Tapping into social media platforms is a way to build content marketing into your overall strategy. What started in the good old days as newsletters later transformed to email blasts, and even further, took the form of tailored ad campaigns based on user data. To harness the buying power of newer generations driving the market, namely Millennials and Generation Z, advertisers and business alike must work to appeal to the emotive nature of consumers and curate tailored customer journeys as unique as they are. As Forbes is quick to point out, “Millennials and Gen-Z make up 64% of the world’s entire population.” We’ve said it before, and we’ll say it again, consumers today expect a tailored, thoughtful ad experience that speaks to their interests. Social media is one of many ways to get there.
Social Media as an Integrated Strategy
Kion Bakhtiari, contributing author to Forbes, makes a valid point— “Young people are not a monolithic marketing segment. To treat them as such says more about the prevalence of lazy marketing than it does about the audience in question.” To assume that all people ages 18 to 36 use social media alone to dictate their buying habits is far too vast a generalization to rely on. While social media has undoubtedly helped to shift buying habits, it does not have the wherewithal to effectively replace a diverse marketing initiative.
Marketers relying too heavily on social media blitzes without a thoughtful execution or a substandard customer journey leading to a poor web or person to person experience are virtually throwing money out the window. As Adam Grant, CEO of Campus Commandos, a top youth marketing agency targeting college students notes, “Millennials and their younger counterparts value authenticity. However, Gen Zers desire even more transparency from companies and distrust obvious forms of traditional advertisements.” It doesn’t matter how compelling your Facebook post is or whether or not your Instagram story is eye-catching if you plan to drive those users to a lackluster website or brick and mortar store. This not only shows a lack of foresight, but it also comes off as inauthentic and as pandering without payoff.