Consumer behavior has experienced major change, mainly characterized by greater demands for personalization. This has pushed marketing specialists to adjust their communication efforts to respond to these new demands, but also, at the same time, to reach the new generations of consumers.
A new key element has indeed been added to the analysis, following a major transformation of market composition: the addition of new generations to the market, each with its own characteristics. We’re talking about Gen Z and Millennials.
The communication preferences of these generations are quite different, which raises multiple questions around marketing to Gen Z vs Millennials. From content localization services by demographics to adaptation by platform, adjusting communication based on the fundamental factors that define these generations is simply essential for communicational success.
Millennials vs. Generation Z: Meet the New Generations of Consumers
Any successful communication that seeks to embrace the new generations of consumers and users must start by having a clear understanding of the fact that millennials and Gen Z respond to different messages and templates.
Who are Millennials and Gen Z?
Millennials and Gen Z are two demographic groups that can be distinguished by their generational characteristics and life experiences. Let’s take a look at the most important aspects that define these generations.
Millennials
Also known as Gen Y, because it is the generation that follows the so-called Gen X, the name “Millennial” responds to the fact that this generation entered adulthood in the new millennium. It has also been called the “Peter Pan generation” because of its prolonged youth and interest in the search for meaningful experiences.
- Date of birth: members of this generation were born between 1981 and 1996. Today, they are between 42 and 27 years old.
- Key events: millennials have experienced the transition towards the digital age, as well as the popularization of the internet and the explosion of social media. Another key aspect that impacted this generation is that they have grown up in a context of economic boom.
- General characteristics: this generation is associated with values such as diversity, inclusion and the search for balance between work and personal life, exerting a significant influence on contemporary culture.
Gen Z
While the business world was still incorporating and analyzing millennials, Gen Z grew up and joined the consumer world. According to Bloomberg, members of this generation represented one-third of the world’s population in 2018.
Gen Z is known as “iGen” because of the influence that “i” technology had on this generation, such as iPhone, iPad, etc. They are also known as “centennials” because many of them were born at the beginning of the 21st century.
- Date of birth: Gen Z were born between the mid-1990s and mid-2010s. Today, they are between the ages of 13 and 28 years old.
- Key events: this is the first generation to grow up having continuous access to digital technology and the internet from an early age. They have also gone through a few key events, such as an increased awareness of climate change and the 2008 financial crisis.
- General characteristics: as the digital natives they are, Gen Z excel in the use of mobile phones, social media and online platforms. They are attributed with an entrepreneurial mindset and a more pragmatic attitude.
Marketing to Gen Z Vs. Millennials: How do you Adapt Marketing Communications?
As we’ve seen, these generations are affected by different events and contexts, which has given rise to different preferences and behaviors that can be well differentiated.
Taking into account the fact that general characteristics attributed to each generation may vary per niche and demographic segment, among other aspects, we need to be aware of the general characteristics that differentiate one generation from the other in order to achieve efficient communication.
It is by observing these characteristics, motivations and preferences that we can truly aspire to connect with the new generations of consumers.
Millennials: interest in learning, identification, experiences and idealism
1. Interest in learning: an educated and informed generation
Millennials show a clear interest in learning. This is a generation that is eager to know everything, about everything. Moreover, according to research conducted by Bright Horizons, just 10 years ago, 34% of Millennials had earned at least a Bachelor’s Degree.
This leads marketing efforts to adjust communication towards educational content. Businesses need to focus their efforts on becoming referents in their industry and sharing their knowledge and experience through different types of digital content, such as webinars, videos, podcasts, collaborations with influencers and more.
2. Recognition and identification
Millennials are critical of content, which is why building a narrative and offering them valuable and relevant information that fits their preferences is essential. This generation values brand identification, which is why having a coherent and well-crafted brand image has the potential to attract their attention.
Therefore, an effective communication should seek to establish a close relationship with the brand, generating that “feeling” that makes them feel a part of the brand as well as giving them the sensation they are being taken into account.
3. Experience lovers
According to a Salesforce's survey, 66% of Millennials indicated their customer experience standards were higher than ever. This generation loves experiences because they value living meaningful and authentic moments over the accumulation of material possessions.
This search for adventure and meaningful personal connections has become an integral part of Millennial lifestyle, reflecting the desire to enrich their life through experiences and relationships, a critical aspect that needs to be taken into account at the time of crafting a communication strategy.
4. Idealistic generation
Millennials are in essence an idealistic generation that seeks to establish an emotional connection with brands. In fact, they are even willing to pay more for it. They are a generation connected to global causes and movements and have a sense of community, as well as a belief that they can make a difference through collective action.
To embrace this key element, it is essential to adapt marketing communications in such a way that it fosters a genuine connection with members of this generation, appealing to their values and beliefs and building relevant and empathic storytelling.
Gen Z: pragmatism, distrust, authenticity, living the moment and hyperconnectivity
1. Pragmatism
Gen Z is characterized by being pragmatic and seeking practical and effective solutions to problems. They have grown up in a world typified by economic uncertainty and global challenges, leading to a general tendency among this generation to not hold on to utopian dreams, a characteristic more typical of Millennials.
This practical approach can be reflected in their entrepreneurial attitude and their ability to quickly adapt to a constantly changing world. As a consequence, communicating with Gen Z by proposing magical solutions or an idealistic answer would be an epic failure.
2. Distrust and the search for authenticity and innovation
This digital native generation has grown up in a world saturated with information and advertising, which has allowed them to develop the particular ability to spot falsehood and dishonesty. Communicating with this generation must be the fruit of direct, transparent and sincere communication, if it is to be effective.
Additionally, a key difference regarding Millennials is that Gen Z are more reluctant to be defined by any brand other than their own. They want to have their own independence.
3. Living the moment: ephemeral communication and shorter attention spans
This generation has been exposed from an early age to platforms such as Snapchat and Instagram, which promote brevity and immediacy in interactions. This has led to a general preference towards more ephemeral communication and shorter attention spans.
Gen Z tends to live the moment and engage with multiple contents at once. It’s a generation that’s used to consuming information quickly and often feels more comfortable with shorter messages and videos and visually impactful content.
4. Hyperconnectivity and multichannel mobile formats
This generation has grown up in a hyperconnected world and has experienced the rapid evolution of mobile technology, which is why they feel comfortable navigating a variety of platforms and applications.
For this reason, Gen Z is considered a multichannel generation, given its ability and willingness to use a wide array of communication channels simultaneously and fluidly. Their ability to absorb information in a fragmented manner and adapt to a constant flow of digital content in their daily lives is reflected in their preference for a versatile and adaptable user experience through different mobile channels.
Millennials Vs Gen Z: Two Worlds of Consumers
Changes in the composition of the consumer universe has brought about not only new behaviors and preferences, but also the incorporation of new consumers to the market.
Marketing to Gen Z vs Millennials has to be the result of tailored communication efforts. Although sometimes wrongly pointed out as similar, these generations have well-defined needs and preferences that need to be taken into account for communication to be effective.
With these different characteristics present, we can dramatically enhance communication effectiveness and ensure successful goal achievement.